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Business Combinations (Tables)

12 Months Ended

Dec. 31, 2012

Asset purchase agreement

Summary of the fair value of assets acquired and the liabilities assumed

		2012												2010
		Sprint			Silva			Saxon			Q3C			Rockford
		Acquisition			Acquisition			Acquisition			Acquisition			Acquisition
Cash		$	—		$	—		$	—		$	—		$	19,623
Accounts receivable		7,614			903			2161			17,947			57,505
Cost and earnings in excess of billings		601			23			279			4,358			2,132
Inventory and other assets		252			353			564			131			—
Investment in non-consolidated entities		—			—			—			1,298			—
Deferred tax assets		—			—			—			—			3,383
Prepaid expenses		—			—			—			174			813
Property, plant and equipment		12,078			14,675			2,948			20,526			24,107
Other assets		—			—			—			—			2,400
Intangible assets		3,600			—			1350			21,550			15,510
Goodwill		9,389			—			810			12,562			32,079
Accounts payable		(1,458		)	(1,450		)	(2,952		)	(4,448		)	(14,525		)
Billing in excess of costs and earnings		—			(414		)	(110		)	—			(35,408		)
Accrued expenses		(716		)	—			(121		)	(7,851		)	(13,324		)
Notes payable		—			—			—			(10,253		)	(4,684		)
Capital lease liabilities		(2,983		)	—			—			—			—
Deferred tax liability		—			—			—			—			(9,988		)
Total		$	28,377		$	14,090		$	4,929		$	55,994		$	79,623

Schedule of the acquired intangible assets categories, fair value and average amortization periods

				2012 Fair Value									2010 Fair Value
		Amortization		Sprint			Saxon			Q3C			Rockford
		Period		Acquisition			Acquisition			Acquisition			Acquisition
Tradename		3 & 10 years		$	700		$	—		$	6,650		$	7,450
Non-compete agreements		2 to 5 years		450			100			450			2,100
Customer relationships		5 to 15 years		2,450			1,150			14,450			2,750
Backlog		0.75 years		—			100			—			3,210
Total				$	3,600		$	1,350		$	21,550		$	15,510

Schedule of pro forma results

		2012			2011
		(unaudited)			(unaudited)
Revenues		$	1,673,001		$	1,674,406
Income before provision for income taxes		$	95,254		$	90,799
Net income attributable to Primoris		$	58,678		$	54,940
Weighted average common shares outstanding:
Basic — (1)		51,403			50,769
Diluted — (1)		51,418			51,215
Earnings per share attributable to Primoris:
Basic		$	1.14		$	1.08
Diluted		$	1.14		$	1.07

Sprint

Asset purchase agreement

Schedule of fair value of the consideration transferred to selling shareholders

Cash consideration		$	21,197
Company common stock		980
Earnout consideration		6,200
Total consideration		$	28,377

Rockford

Asset purchase agreement

Schedule of fair value of the consideration transferred to selling shareholders

Cash		$	35,039
Company common stock		13,600
Subordinated promissory note		16,712
Earnout consideration		14,272
Total fair value of consideration		$	79,623

Q3 Contracting

Asset purchase agreement

Schedule of fair value of the consideration transferred to selling shareholders

Cash consideration		$	48,116
Commitment to issue Company common stock		430
Earnout consideration		7,448
Total consideration		$	55,994

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Tabular disclosure of fair value of the consideration transferred in a business acquisition.

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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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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 350

-SubTopic 30

-Section 50

-Paragraph 1

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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 142

-Paragraph 44

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Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

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