Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Acquisition

Summary of preliminary calculation of goodwill based on the excess of consideration transferred and the fair value of the previously held equity interests over the fair value of the assets acquired and liabilities assumed

The following table summarizes the preliminary calculation of goodwill based on the excess of consideration transferred and the fair value of the previously held equity interests over the fair value of the assets acquired and liabilities assumed (in thousands).

	December 31, 2019
Purchase consideration:
Cash at closing	$	288,089
Assumption of debt previously owed by FRC		10,000
Deferred payments		53,471
Contingent consideration		12,786
Consideration transferred		364,346
Fair value of previously-held equity interests		122,000
Total		486,346
Less net assets acquired:
Current assets		23,682
Property and equipment		84,360
Intangible assets		338,782
Operating lease assets		223,455
Other assets		5,842
Current liabilities		(64,814)
Operating lease liabilities		(202,433)
Other noncurrent liabilities		(883)
Total net assets acquired		407,991
Goodwill	$	78,355

Schedule of Pro Forma Results of Operations (unaudited)

The following pro forma results of operations for fiscal 2019 and 2018 give effect to the Acquisition as if it had occurred on January 2, 2018 (in thousands):

	Fiscal Year
	2019		2018
Revenues	$	2,732,901	$	2,579,019
Net income		74,949		80,800
Net income per share:
Basic		1.71		1.79
Diluted	$	1.68	$	1.75