Business Combinations (Tables)

12 Months Ended

Dec. 31, 2018

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