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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2018
Business combinations |
Schedule of pro forma results | For example, the pro forma results do not reflect any operating efficiencies and associated cost savings that we might have achieved with respect to the acquisitions (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  | 2017 |
|  | (unaudited) |  | (unaudited) |
Revenue |  | $ | 3,265,690 |  | $ | 3,256,045 |
Income before provision for income taxes |  | $ | 107,657 |  | $ | 14,813 |
Net income attributable to Primoris |  | $ | 73,356 |  | $ | 18,072 |
Weighted average common shares outstanding: |  |  |  |  |  |  |
Basic |  |  | 51,350 |  |  | 51,481 |
Diluted |  |  | 51,670 |  |  | 51,741 |
Earnings per share: |  |  |  |  |  |  |
Basic |  | $ | 1.43 |  | $ | 0.35 |
Diluted |  | $ | 1.42 |  | $ | 0.35 |
Willbros Group, Inc |
Business combinations |
Summary of the cash paid for acquisitions |
Purchase consideration (in thousands) |  |  |  |
Total purchase consideration |  | $ | 164,758 |
Less cash and restricted cash acquired |  |  | (54,138) |
Net cash paid |  |  | 110,620 |
Summary of the identifiable assets acquired and liabilities assumed |
Preliminary identifiable assets acquired and liabilities assumed (in thousands) |  |  |  |
Cash and restricted cash |  | $ | 54,138 |
Accounts receivable |  |  | 102,719 |
Contract assets |  |  | 30,762 |
Other current assets |  |  | 18,712 |
Property, plant and equipment |  |  | 30,522 |
Intangible assets: |  |  |  |
Customer relationships |  |  | 47,500 |
Tradename |  |  | 200 |
Deferred income taxes |  |  | 24,017 |
Other non-current assets |  |  | 2,261 |
Accounts payable and accrued liabilities |  |  | (114,088) |
Contract liabilities |  |  | (63,902) |
Other non-current liabilities |  |  | (20,868) |
Total identifiable net assets |  |  | 111,973 |
Goodwill |  |  | 52,785 |
Total purchase consideration |  | $ | 164,758 |
2017 Acquisitions |
Business combinations |
Summary of the identifiable assets acquired and liabilities assumed | The following table represents the identifiable assets acquired and liabilities assumed related to the 2017 acquisitions described above (in thousands):
Accounts receivable | $ | 10,721 |  |
Contract assets |  | 580 |  |
Other current assets |  | 2,352 |  |
Property, plant and equipment |  | 12,402 |  |
Intangible assets |  | 21,125 |  |
Goodwill |  | 26,269 |  |
Accounts payable and accrued liabilities |  | (5,476) |  |
Contract liabilities |  | (447) |  |
Total | $ | 67,526 |  |
2016 Acquisitions |
Business combinations |
Summary of the identifiable assets acquired and liabilities assumed | The following table represents the identifiable assets acquired and liabilities assumed related to the 2016 acquisitions described above (in thousands):
Accounts receivable | $ | 1,606 |  |
Other current assets |  | 64 |  |
Property, plant and equipment |  | 2,133 |  |
Intangible assets |  | 3,000 |  |
Goodwill |  | 5,660 |  |
Accounts payable and accrued liabilities |  | (1,587) |  |
Total | $ | 10,876 |  |

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