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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Xator Corporation

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Preliminary Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the preliminary purchase price allocation as of the date of acquisition (in thousands):

		Amount
Cash and cash equivalents		$	8,935
Accounts receivable			28,199
Contract assets			4,591
Prepaid expenses and other current assets			3,615
Property and equipment			1,699
Right of use assets, operating leases			7,517
Goodwill			252,994
Investments in and advances to unconsolidated joint ventures			698
Intangible assets			123,500
Other noncurrent assets			9,156
Accounts payable			(6,626	)
Accrued expenses and other current liabilities			(31,119	)
Contract liabilities			(2,080	)
Short-term lease liabilities, operating leases			(2,371	)
Long-term lease liabilities, operating leases			(5,146	)
Other long-term liabilities			(9,156	)
Net assets acquired		$	384,406

Schedule of Preliminary Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were preliminarily assigned to intangible assets (in thousands, except for years):

		Gross Carrying Amount				Amortization Period
						(in years)
Customer relationships		$	37,000			15
Backlog			81,000			6
Trade Name			4,000			1
Developed technologies			1,000			3
Non-compete agreements			500			3

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the Xator acquisition had been consummated as of the beginning of fiscal year 2021 (in thousands) is as follows:

		Three Months Ended								Nine Months Ended
		September 30, 2022				September 30, 2021				September 30, 2022				September 30, 2021
Pro forma Revenue		$	1,134,370			$	1,027,430			$	3,199,336			$	2,920,933
Pro forma Net Income including noncontrolling interests			43,970				28,878			$	102,860			$	49,609

BlackHorse Solutions, Inc.

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Preliminary Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

		Amount
Cash and cash equivalents		$	15,428
Accounts receivable			3,351
Contract assets			5,979
Prepaid expenses and other current assets			937
Property and equipment			2,239
Right of use assets, operating leases			6,157
Goodwill			143,086
Intangible assets			65,000
Accounts payable			(2,326	)
Accrued expenses and other current liabilities			(17,190	)
Contract liabilities			(320	)
Short-term lease liabilities, operating leases			(1,011	)
Long-term lease liabilities, operating leases			(5,146	)
Deferred tax liabilities			(10,916	)
Other long-term liabilities			(235	)
Net assets acquired		$	205,033

Schedule of Preliminary Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

		Gross Carrying Amount				Amortization Period
						(in years)
Customer relationships		$	39,000			16
Backlog			23,000			3
Trade name			1,000			2
Developed technologies			1,000			3
Non-compete agreements			1,000			3

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the BlackHorse acquisition had been consummated as of the beginning of fiscal year 2020 (in thousands) is as follows:

		Three Months Ended								Nine Months Ended
		September 30, 2022				September 30, 2021				September 30, 2022				September 30, 2021
Pro forma Revenue		$	1,134,370			$	957,498			$	3,092,160			$	2,748,559
Pro forma Net Income including noncontrolling interests			44,766				30,608				95,299			$	56,232

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

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-Publisher FASB
-Name Accounting Standards Codification
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+ References

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+ References

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