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Business Combinations (Tables) | 6 Months Ended
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Jun. 30, 2017
Business Combinations [Abstract] |
Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed | The estimated fair values of the assets acquired and liabilities assumed for the acquisitions, as well as total purchase prices and cash paid, approximated the following as of June 30 and may be adjusted during the valuation period since acquisition (in thousands):
|  | 2017 |  |  | 2016 |
|  | Alpha |  |  | Columbia |  |  | Other |  |  | Total |  |  | Alpine |  |  | Other |  |  | Total |
Estimated fair values: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 247 |  |  | $ | — |  |  | $ | — |  |  | $ | 247 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Accounts receivable |  |  | 30,405 |  |  |  | 990 |  |  |  | 1,130 |  |  |  | 32,525 |  |  |  | 3,959 |  |  |  | 1,518 |  |  |  | 5,477 |
Inventories |  |  | 1,751 |  |  |  | 650 |  |  |  | 880 |  |  |  | 3,281 |  |  |  | 700 |  |  |  | 311 |  |  |  | 1,011 |
Other current assets |  |  | 5,566 |  |  |  | — |  |  |  | 3 |  |  |  | 5,569 |  |  |  | — |  |  |  | 8 |  |  |  | 8 |
Property and equipment |  |  | 1,528 |  |  |  | 659 |  |  |  | 686 |  |  |  | 2,873 |  |  |  | 656 |  |  |  | 789 |  |  |  | 1,445 |
Intangibles |  |  | 57,100 |  |  |  | 4,760 |  |  |  | 3,321 |  |  |  | 65,181 |  |  |  | 12,800 |  |  |  | 5,036 |  |  |  | 17,836 |
Goodwill |  |  | 37,825 |  |  |  | 1,699 |  |  |  | 963 |  |  |  | 40,487 |  |  |  | 6,642 |  |  |  | 3,220 |  |  |  | 9,862 |
Other non-current assets |  |  | 150 |  |  |  | 31 |  |  |  | 129 |  |  |  | 310 |  |  |  | — |  |  |  | 24 |  |  |  | 24 |
Accounts payable and other current liabilities |  |  | (17,901 | ) |  |  | (348 | ) |  |  | (1,210 | ) |  |  | (19,459 | ) |  |  | (2,046 | ) |  |  | (1,239 | ) |  |  | (3,285 | )
Fair value of assets acquired and purchase price |  |  | 116,671 |  |  |  | 8,441 |  |  |  | 5,902 |  |  |  | 131,014 |  |  |  | 22,711 |  |  |  | 9,667 |  |  |  | 32,378 |
Less fair value of common stock issued |  |  | 10,859 |  |  |  | — |  |  |  | — |  |  |  | 10,859 |  |  |  | — |  |  |  | — |  |  |  | — |
Less seller obligations |  |  | 2,002 |  |  |  | 623 |  |  |  | 400 |  |  |  | 3,025 |  |  |  | 1,560 |  |  |  | 870 |  |  |  | 2,430 |
Cash paid |  | $ | 103,810 |  |  | $ | 7,818 |  |  | $ | 5,502 |  |  | $ | 117,130 |  |  | $ | 21,151 |  |  | $ | 8,797 |  |  | $ | 29,948 |
Estimates of Acquired Intangible Assets | Estimates of acquired intangible assets related to the acquisitions are as follows for the six months ended June 30 (dollars in thousands):
|  | 2017 |  |  | 2016 |
Acquired intangibles assets |  | Estimated Fair Value |  |  | Weighted Average Estimated Useful Life (yrs.) |  |  | Estimated Fair Value |  |  | Weighted Average Estimated Useful Life (yrs.) |
Customer relationships |  | $ | 32,744 |  |  |  | 8 |  |  | $ | 10,667 |  |  |  | 9 |
Trademarks and trade names |  |  | 17,190 |  |  |  | 15 |  |  |  | 5,235 |  |  |  | 15 |
Non-competition agreements |  |  | 1,847 |  |  |  | 5 |  |  |  | 1,934 |  |  |  | 5 |
Backlog |  |  | 13,400 |  |  |  | 1.5 |  |  |  | — |  |  |  | — |
Pro Forma Results of Operations | The unaudited pro forma information for the combined results of the Company has been prepared as if the 2017 acquisitions had taken place on January 1, 2016 and the 2016 acquisitions had taken place on January 1, 2015. The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2016 and 2015, respectively, and the unaudited pro forma information does not purport to be indicative of future financial operating results. See Note 12, Business Combinations, to our audited financial statements in Item 8 of Part II of our 2016 Form 10-K for additional information on 2016 acquisitions included in the table below (in thousands, except per share data):
|  | Pro forma for the three months ended June 30, |  |  | Pro forma for the six months ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Net revenue |  | $ | 285,346 |  |  | $ | 255,626 |  |  | $ | 548,299 |  |  | $ | 492,239 |
Net income |  | $ | 12,371 |  |  | $ | 12,399 |  |  | $ | 19,502 |  |  | $ | 19,372 |
Basic and diluted net income per share |  | $ | 0.39 |  |  | $ | 0.39 |  |  | $ | 0.62 |  |  | $ | 0.61 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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