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Business Combination (Tables) | 12 Months Ended
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Dec. 31, 2021
Business Combinations [Abstract] |
Schedule of Acquisition | The following table presents the allocation of the consideration paid to the assets acquired and liabilities assumed, based on their fair values as of December 10, 2021, in the acquisition of BasX described above, which was still preliminary at December 31, 2021. The provisional amounts are subject to change as the Company continues to evaluate the information required to complete the valuation through the measurement period. We expect to complete our valuation in the first quarter of 2022.
| (in thousands)
Accounts receivable | $ | 13,699 |
Inventories | 2,725 |
Contract assets | 7,635 |
Prepaid expenses and other | 341 |
Property, plant and equipment | 13,169 |
Right of use assets | 15,611 |
Intangible assets | 70,329 |
Goodwill | 82,498 |
Accounts payable | (9,388) |
Accrued liabilities | (3,807) |
Contract liabilities | (7,771) |
Lease liabilities | (15,611) |
Contingent Consideration - shares of AAON | (66,000) |
Consideration paid | $ | 103,430 |
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets Acquired | The Company recognized the following definite and indefinite-lived intangible assets as part of the acquisition of BasX:
| (in thousands)
Definite-lived intangible assets |
Intellectual property | $ | 6,479 |
Customer relationships | 48,684 |
| 55,163 |
Indefinite-lived intangible assets |
Trademarks | 15,166 |
Total intangible assets acquired | $ | 70,329 |
Schedule of Pro Forma Information | The following unaudited pro forma consolidated results of operations for the years ended December 31, 2021 and 2020 are presented as if the combination had been made on January 1, 2020.
| (unaudited)
| Years ended December 31,
| 2021 |  | 2020
| (in thousands, except per share data)
Revenues | $ | 611,158 |  |  | $ | 562,563 |
Net income | 63,491 |  |  | 80,507 |
Earnings per share: |  |  |
Basic | $ | 1.21 |  |  | $ | 1.54 |
Dilutive | $ | 1.18 |  |  | $ | 1.52 |

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- 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
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