XML 44 R32.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Acquisitions (Tables) | 6 Months Ended
--- | ---
Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of recognized identified assets acquired and liabilities assumed | The table below represents the purchase price allocation for RPS based on estimates, assumptions, valuations and other analyses as of January 23, 2023. The all cash purchase consideration, excluding the aforementioned forward contract gain, was allocated to the tangible and intangible assets, and liabilities of RPS based on their estimated fair values, with any excess purchase consideration allocated to goodwill as follows (in thousands):
| Amount
Cash and cash equivalents | $ | 32,093 |
Accounts receivable and contract assets | 202,303 |
Prepaid expenses and other current assets | 45,999 |
Income taxes receivables | 1,999 |
Property and equipment | 38,435 |
Right-of-use assets, operating leases | 40,179 |
Intangible assets | 174,094 |
Deferred income taxes | 35,084 |
Other long-term assets | 1,061 |
Total assets acquired | 571,247 |
Accounts payable | $ | (44,376) |
Accrued compensation | (19,073) |
Contract liabilities | (46,287) |
Income tax payable | (7,083) |
Short-term lease liabilities, operating leases | (13,477) |
Other current liabilities | (135,474) |
Current portion of long-term debt | (91,973) |
Long-term lease liabilities, operating leases | (26,702) |
Other long-term liabilities | (13,742) |
Deferred tax liabilities | (41,613) |
Total liabilities assumed | (439,800) |
Fair value of net assets acquired | 131,447 |
Goodwill | 652,762 |
Total purchase consideration | $ | 784,209 |
Schedule of acquired finite-lived intangible assets by major class | The following table summarizes the estimated fair values that were assigned to intangible assets at the acquisition date:
| Fair Value |  | Weighted-Average Estimated Useful Life
| (in thousands) |  | (in years)
Backlog | $ | 27,880 |  |  | 1.6
Trade names | 27,260 |  |  | 3.0
Client relations | 118,954 |  |  | 11.1
Total intangible assets acquired | $ | 174,094 |  |  | 8.3
Business acquisition, pro forma information | Following are the supplemental consolidated financial results of Tetra Tech and RPS for the second quarter and first half of fiscal 2023 on an unaudited pro forma basis, as if the RPS acquisition had been consummated at the beginning of fiscal 2022 (in thousands):
| Three Months Ended |  | Six Months Ended
| April 2, 2023 |  | April 2, 2023
Revenue | $ | 1,203,538 |  |  | $ | 2,310,839 |
Net Income including noncontrolling interests | 40,200 |  |  | 103,901 |
Schedule of estimated contingent earn out liabilities | The following table summarizes the changes in the fair value of estimated contingent consideration for the second quarters and first halves of fiscal 2024 and 2023 (in thousands):
| Three Months Ended |  | Six Months Ended
| March 31, 2024 |  | April 2, 2023 |  | March 31, 2024 |  | April 2, 2023
Beginning balance | $ | 55,604 |  |  | $ | 69,029 |  |  | $ | 73,422 |  |  | $ | 65,566 |
Estimated earn-out liabilities for acquisitions | 21,900 |  |  | 12,248 |  |  | 21,900 |  |  | 12,248 |
Payments of contingent consideration | (3,250) |  |  | (2,000) |  |  | (22,112) |  |  | (2,000) |
Adjustments to fair value recorded in earnings | 14 |  |  | 7,544 |  |  | (22) |  |  | 8,477 |
Interest accretion expense | 444 |  |  | 697 |  |  | 915 |  |  | 1,212 |
Effect of foreign currency exchange rate changes | (133) |  |  | 564 |  |  | 476 |  |  | 2,579 |
Ending balance | $ | 74,579 |  |  | $ | 88,082 |  |  | $ | 74,579 |  |  | $ | 88,082 |
Maximum potential payout at end of period | $ | 129,253 |  |  | $ | 143,882 |  |  | $ | 129,253 |  |  | $ | 143,882 |

X
- Definition Schedule of Estimated Contingent Earn Out Liabilities + References No definition available. + Details
Name: | ttek_ScheduleOfEstimatedContingentEarnOutLiabilitiesTableTextBlock
Namespace Prefix: | ttek_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
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 -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration