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Acquisitions (Tables)

9 Months Ended

Sep. 30, 2025

Chesapeake Technology International, Corp

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

The following table summarizes the acquisition date fair value of the purchase consideration transferred (in thousands):

		Amount
Cash and cash equivalents		$	4,769
Accounts receivable			28,145
Contract assets			4,256
Inventory			169
Right of use assets, operating leases			2,310
Prepaid expenses and other current assets			762
Property and Equipment			1,029
Goodwill			57,998
Intangible assets			34,820
Other noncurrent assets			3,173
Accounts payable			(17,818	)
Short-term lease liabilities, operating leases			(143	)
Accrued expenses and other current liabilities			(7,265	)
Contract liabilities			(8,079	)
Deferred income taxes			(6,300	)
Long-term lease liabilities, operating leases			(2,167	)
Other long-term liabilities			(4,125	)
Net assets acquired		$	91,534

Schedule of 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		$	20,690			15
Backlog			8,010			5
Developed technologies			3,000			3
Non-compete agreements			2,460			3
Trade name		$	660			1

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the CTI acquisition had been consummated as of the beginning of fiscal year 2024 (in thousands) is as follows:

		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Pro forma Revenue		$	1,621,748			$	1,828,838			$	4,815,991			$	5,065,144
Pro forma Net Income including noncontrolling interests			82,693				83,368				236,520				211,653

The unaudited pro forma supplemental information is based on estimates and assumptions which the Company believes are reasonable and reflects the pro forma impact of additional amortization related to the fair value of acquired intangible assets, and the pro forma impact of reflecting acquisition costs, which consisted of legal, advisory and due diligence fees and expenses which are reflected in the earliest period presented. This supplemental pro forma information has been prepared for comparative purposes and does not purport to be indicative of what would have occurred had the acquisition been consummated during the periods for which pro forma information is presented.

TRS group Inc

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

The following table summarizes the acquisition date fair value of the purchase consideration transferred (in thousands):

		Amount
Cash and cash equivalents		$	2,054
Accounts receivable			3,390
Contract assets			2,277
Income taxes receivable			354
Prepaid expenses and other current assets			2,414
Property and Equipment			5,832
Goodwill			22,972
Intangible assets			6,100
Accounts payable			(1,095	)
Accrued expenses and other current liabilities			(3,270	)
Contract liabilities			(4,222	)
Short-term lease liabilities, operating leases			(116	)
Long-term lease liabilities, operating leases			(124	)
Net assets acquired		$	36,566

Schedule of 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)
Backlog		$	1,900			3
Developed technologies			3,900			5
Trade name		$	300			1

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the TRS acquisition had been consummated as of the beginning of fiscal year 2024 (in thousands) is as follows:

		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Pro forma Revenue		$	1,621,748			$	1,817,499			$	4,762,454			$	5,037,031
Pro forma Net Income including noncontrolling interests			82,057				85,410				234,856				220,098

BCC Engineering, LLC

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

The following table summarizes the acquisition date fair value of the purchase consideration transferred (in thousands):

		Amount
Cash and cash equivalents		$	2,839
Accounts receivable			24,142
Contract assets			16,649
Prepaid expenses and other current assets			2,483
Right of use assets, operating leases			9,438
Property and Equipment			1,586
Other noncurrent assets			1,744
Goodwill			175,680
Intangible assets			32,400
Accounts payable			(8,668	)
Accrued expenses and other current liabilities			(7,296	)
Contract liabilities			(4,446	)
Short-term lease liabilities, operating leases			(2,090	)
Deferred income taxes			(2,299	)
Long-term lease liabilities, operating leases			(7,462	)
Other long-term liabilities			(1,183	)
Net assets acquired		$	233,517

Schedule of 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		$	6,500			4
Backlog			23,400			4
Non-compete agreements			1,700			3
Other		$	800			1

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the BCC acquisition had been consummated as of the beginning of fiscal year 2023 (in thousands) is as follows:

		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Pro forma Revenue		$	1,621,748			$	1,836,915			$	4,760,431			$	5,093,599
Pro forma Net Income including noncontrolling interests			82,775				83,518				237,013				213,256

BlackSignal Technologies, LLC.

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

The following table summarizes the acquisition date fair value of the purchase consideration transferred (in thousands):

		Amount
Cash and cash equivalents		$	4,917
Accounts receivable			5,171
Contract assets			3,209
Prepaid expenses and other current assets			447
Right of use assets, operating leases			5,370
Property and Equipment			997
Goodwill			116,849
Intangible assets			97,600
Other assets			145
Accounts payable			(951	)
Accrued expenses and other current liabilities			(4,999	)
Short-term lease liabilities, operating leases			(800	)
Deferred income taxes			(19,647	)
Long-term lease liabilities, operating leases			(4,570	)
Net assets acquired		$	203,738

Schedule of 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		$	73,900			14
Backlog			11,700			3
Developed technologies			5,200			5
Non-compete agreements			6,100			3
Other		$	700			1

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the BlackSignal acquisition had been consummated as of the beginning of fiscal year 2023 (in thousands) is as follows:

		Three Months Ended								Nine Months Ended
		September 30, 2025				September 30, 2024				September 30, 2025				September 30, 2024
Pro forma Revenue		$	1,621,748			$	1,816,364			$	4,760,431			$	5,048,235
Pro forma Net Income including noncontrolling interests			82,324				86,364				236,142				214,787

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