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Acquisitions (Tables)

12 Months Ended

Dec. 31, 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			7,393
Contract assets			25,397
Prepaid expenses and other current assets			3,615
Property and equipment			1,699
Right of use assets, operating leases			7,517
Goodwill			253,190
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		$	384,602

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:

		2022				2021
		(unaudited)				(unaudited)
Pro forma Revenue		$	4,302,448			$	3,949,562
Pro forma Net Income including noncontrolling interests			139,901				91,770

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 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 on an unaudited pro forma basis, as if the acquisition closed as of the beginning of the fiscal year ended December 31, 2020 as follows (in thousands):

		2021				2020
		(unaudited)				(unaudited)
Pro forma Revenue		$	3,699,227			$	3,966,809
Pro forma Net Income including noncontrolling interests			93,592				108,008

Braxton Science & Technology Group

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		$	7,006
Accounts receivable			18,163
Contract assets			8,350
Prepaid expenses and other current assets			3,036
Property and equipment			5,114
Right of use assets, operating leases			10,788
Goodwill			212,185
Intangible assets			74,950
Accounts payable			(7,464	)
Accrued expenses and other current liabilities			(9,845	)
Contract liabilities			(300	)
Short-term lease liabilities, operating leases			(1,915	)
Long-term lease liabilities, operating leases			(8,873	)
Deferred tax liabilities			(1,694	)
Net assets acquired		$	309,501

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		$	34,100			12
Backlog			38,200			3
Developed technologies			2,000			6
Non-compete agreements			650			3

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the Braxton acquisition had been consummated as of the beginning of 2019 (in thousands) is as follows:

		2020
		(unaudited)
Pro forma Revenue		$	4,039,420
Pro forma Net Income including noncontrolling interests			125,298

X

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