XML 49 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1
BUSINESS COMBINATIONS (Tables)
12 Months Ended
Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Purchase Price Paid for Acquisitions
A summary of the purchase price paid and the purchase price allocation for acquisitions follows:
 Fiscal Year Ended
December 31,
 202320222021
Purchase Price:
Cash used in acquisitions, net of cash acquired$846,711 $76,573 $166,489 
Other non-cash consideration— 1,275 — 
Open working capital settlements due from sellers
(2,873)— — 
Holdbacks, additional consideration owed to sellers and contingent consideration
2,729 4,840 5,194 
Total consideration846,567 82,688 171,683 
Allocated as follows:
Current assets (1)
19,524 7,644 7,218 
Property and equipment:
Land8,440 3,141 1,321 
Finance lease right-of-use-assets— — 31,467 
Buildings and improvements28,411 8,576 11,046 
Machinery, equipment and other
177,916 11,689 46,396 
Operating lease right-of-use assets11,786 405 6,500 
Intangible assets:
Trade names4,320 55 8,350 
Covenants not-to-compete30,860 2,424 1,807 
Customer relationships 145,393 12,224 36,195 
Other non-current assets— 40 — 
Deferred tax liability
(9,058)— — 
Current liabilities(21,417)(3,812)(6,014)
Other long-term liabilities(828)(123)— 
Financing lease liabilities, less current portion— — (10,535)
Operating lease liabilities, less current portion(9,939)(282)— 
Fair value of assets acquired and liabilities assumed385,408 41,981 133,751 
Excess purchase price to be allocated to goodwill$461,159 $40,707 $37,932 
(1)Includes contract receivables in fiscal year 2023, 2022 and 2021 of $17,002, $6,806 and $5,340, respectively.
Schedule of Unaudited Pro forma Combined Information
Unaudited pro forma combined information that shows our operational results as though each acquisition completed since the beginning of the prior fiscal year had occurred as of January 1, 2021 is as follows.
 Fiscal Year Ended
December 31,
 202320222021
Revenues$1,436,871 $1,412,377 $1,303,556 
Operating income$89,236 $113,842 $99,286 
Net income $28,507 $60,121 $36,200 
Basic earnings per share attributable to common stockholders:
Basic weighted average shares outstanding55,174 51,623 51,312 
Basic earnings per common share$0.52 $1.16 $0.71 
Diluted earnings per share attributable to common stockholders:
Diluted weighted average shares outstanding55,274 51,767 51,515 
Diluted earnings per common share $0.52 $1.16 $0.70