XML 54 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1
BUSINESS COMBINATIONS (Tables)
12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed The following table summarizes the preliminary determination and recognition of assets acquired and liabilities assumed (in thousands):
At Acquisition Date
As Reported December 31, 2023
Accounts receivable$25,233 
Inventories and supplies228 
Prepaid expenses and other current assets1,302 
Property, plant and equipment26,719 
Permits and other intangibles28,900 
Operating lease right-of-use assets4,716 
Other long-term assets72 
Current liabilities(10,385)
Current portion of operating lease liabilities(1,653)
Operating lease liabilities, less current portion(3,063)
Other long-term liabilities(560)
Total identifiable net assets71,509 
Goodwill39,346 
Total purchase price$110,855 
The following table summarizes the final determination and recognition of assets acquired and liabilities assumed (in thousands):
Preliminary Allocation
As Reported
December 31, 2022
Measurement Period Adjustments
Final Allocation
As Reported December 31, 2023
Accounts receivable$1,111 $(22)$1,089 
Inventories and supplies5,816 (71)5,745 
Prepaid expenses and other current assets144 — 144 
Property, plant and equipment19,605 2,626 22,231 
Permits and other intangibles23,500 — 23,500 
Operating lease right-of-use assets585 — 585 
Other long-term assets13 — 13 
Current liabilities(3,271)(104)(3,375)
Current portion of operating lease liabilities(186)— (186)
Operating lease liabilities, less current portion(399)— (399)
Other long-term liabilities(55)(2,626)(2,681)
Total identifiable net assets46,863 (197)46,666 
Goodwill32,015 197 32,212 
Total purchase price$78,878 $— $78,878 
The following table summarizes the final determination and recognition of assets acquired and liabilities assumed (in thousands):
Final Allocation
Accounts receivable, including unbilled receivables$131,516 
Inventories and supplies3,162 
Prepaid expenses and other current assets16,291 
Property, plant and equipment314,397 
Other intangibles289,000 
Operating lease right-of-use assets34,415 
Other long-term assets962 
Current liabilities(118,854)
Current portion of operating lease liabilities(11,277)
Operating lease liabilities, less current portion(26,344)
Deferred tax liabilities(80,386)
Other long-term liabilities(4,170)
Total identifiable net assets548,712 
Goodwill (i)
676,701 
Total purchase price$1,225,413 
_____________
(i) Goodwill represents the excess of the fair value of the net assets acquired over the purchase price. Goodwill of $676.7 million is attributable to the future economic benefits arising from the acquired operations, synergies and the acquired workforce of HydroChemPSC. None of the goodwill related to this acquisition will be deductible for tax purposes. Final Goodwill was assigned to the Environmental Sales and Service reporting unit, see Note 8, "Goodwill and Other Intangible Assets" for details on reporting unit change as of December 31, 2023.
Schedule of Unaudited Pro Forma Financial Information
The following table presents unaudited pro forma combined summary financial information for the year ended December 31, 2021, and assumes the acquisition of HydroChemPSC occurred on January 1, 2020 (in thousands):

2021
Pro forma combined revenues$4,380,724 
Pro forma combined net income229,807