XML 57 R19.htm IDEA: XBRL DOCUMENT
v3.19.3

Acquisitions (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2019
Acquisitions |
Schedule of acquisition date fair value of consideration transferred and the acquisition date fair value of the identifiable assets acquired and liabilities assumed, including an amount for goodwill | The following summarizes the acquisition date fair value of consideration transferred and the acquisition date fair value of the identifiable assets acquired and liabilities assumed, including an amount for goodwill (in thousands): ​
​ | ​ | ​
Consideration transferred: | ​ | ​
Cash paid at closing | $ | 178,000
Advance to former owners | ​ | 20,500
Working capital adjustment | ​ | (7,594)
Notes issued to former owners | ​ | 25,000
Tax equalization payment | ​ | 202
Estimated fair value of contingent earn-out payments | ​ | 19,500
​ | $ | 235,608
Recognized amounts of identifiable assets acquired and liabilities assumed: | ​ | ​
Cash and cash equivalents | $ | 4,850
Billed and unbilled accounts receivable | ​ | 92,309
Other current assets | ​ | 8,587
Other long-term assets | ​ | 53
Property and equipment | ​ | 4,970
Goodwill | ​ | 96,439
Identifiable intangible assets | ​ | 90,200
Lease right-of-use asset | ​ | 10,495
Accounts payable | ​ | (20,220)
Accrued compensation and benefits | ​ | (974)
Billings in excess of costs and estimated earnings | ​ | (31,553)
Other current liabilities | ​ | (11,278)
Long-term lease liabilities | ​ | (8,270)
​ | $ | 235,608
Schedule of acquired intangible assets | The acquired intangible assets include the following (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Valuation Method | ​ | Estimated Useful Life | ​ | ​ | Estimated Fair Value
Backlog | ​ | Excess earnings | ​ | 2 years | ​ | $ | 4,600
Trade Names | ​ | Relief-from-royalty | ​ | 25 years | ​ | ​ | 32,600
Customer Relationships | ​ | Excess earnings | ​ | 10 years | ​ | ​ | 53,000
Total | ​ | ​ | ​ | ​ | ​ | $ | 90,200
Schedule of unaudited pro forma consolidated results of operations | The unaudited pro forma consolidated results of operations, assuming the acquisition had occurred on January 1, 2018, are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ | 2019 | 2018 | ​ | 2019 | ​ | 2018
Revenue | $ | 706,918 | ​ | $ | 707,199 | ​ | $ | 1,984,054 | ​ | $ | 1,885,757
Pre-tax income | $ | 49,718 | ​ | $ | 51,374 | ​ | $ | 106,223 | ​ | $ | 116,754

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration