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Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2017
Business Combinations [Abstract] |
Summary of Estimated Consideration Allocated on a Preliminary Basis to Assets Acquired and Liabilities Assumed | Based on the Company’s preliminary valuation, a total estimated consideration of $71.8 million has been allocated on to the assets acquired and liabilities assumed, as follows (in thousands). During the fourth quarter, a final determination of the purchase price and the final valuation report were completed upon the final determination of working capital at closing. No adjustments were made to the fair values of assets acquired and liabilities assumed as a result:
Accounts receivable, net |  | $ | 8,357 |
Contract retainage |  |  | 1,948 |
Inventories, net |  |  | 2,344 |
Prepaid expenses and other assets |  |  | 1,223 |
Revenues in excess of billings |  |  | 3,463 |
Fixed assets, net |  |  | 1,264 |
Intangible assets |  |  | 4,900 |
Goodwill |  |  | 57,938 |
Accounts payable |  |  | (3,990 | )
Accrued liabilities and other expenses |  |  | (2,329 | )
Billings in excess of revenues |  |  | (1,752 | )
Customer Deposits |  |  | (1,562 | )
Total consideration |  | $ | 71,804 |
Summary of Unaudited Pro Forma Results of Operations | The following pro forma results are prepared for comparative purposes only and do not necessarily reflect the results that would have occurred had the acquisition occurred at the beginning of the years presented or the results which may occur in the future. The following unaudited pro forma results of operations assume the acquisition occurred on January 1, 2016 (in thousands, except per share amounts):
|  | Year Ended December 31 |
|  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
|  | Actual |  |  | Pro Forma |
Net sales |  | $ | 565,153 |  |  | $ | 479,616 |  |  | $ | 597,288 |  |  | $ | 534,618 |
Net income |  | $ | 95,128 |  |  | $ | 67,847 |  |  | $ | 96,608 |  |  | $ | 68,344 |
Basic earnings per common share |  | $ | 3.24 |  |  | $ | 2.31 |  |  | $ | 3.29 |  |  | $ | 2.33 |
Diluted earnings per common share |  | $ | 3.22 |  |  | $ | 2.29 |  |  | $ | 3.27 |  |  | $ | 2.31 |

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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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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