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BUSINESS COMBINATIONS (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Purchase Price Paid for Acquisitions | A summary of the purchase price and the purchase price allocation for acquisitions follows:
| Six Months Ended June 30,
| 2024 |  | 2023
Purchase Price: |  |  |
Cash used in acquisitions, net of cash acquired | $ | 748 |  |  | $ | 544,359 |
Holdbacks | — |  |  | 1,900 |
Total consideration | $ | 748 |  |  | $ | 546,259 |
Allocated as follows: |  |  |
Current assets | $ | — |  |  | $ | 15,364 |
Property, plant and equipment: |  |  |
Land | — |  |  | 2,213 |
Buildings and improvements | — |  |  | 8,666 |
Machinery and equipment | 282 |  |  | 90,276 |
Operating lease right-of-use assets | — |  |  | 11,260 |
Intangible assets: |  |  |
Covenants not-to-compete | 75 |  |  | 10,550 |
Customer relationships | 38 |  |  | 93,000 |
Deferred tax liability | — |  |  | (5,160) |
Current liabilities | (2) |  |  | (15,195) |
Operating lease liabilities, less current portion | — |  |  | (9,887) |
Fair value of assets acquired and liabilities assumed | 393 |  |  | 201,087 |
Excess purchase price allocated to goodwill | $ | 355 |  |  | $ | 345,172 |
Schedule of Unaudited Pro forma Combined Information | Unaudited pro forma combined operational results prepared as though each acquisition completed since the beginning of the prior fiscal year had occurred as of January 1, 2023 is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenues | $ | 377,199 |  |  | $ | 365,644 |  |  | $ | 718,315 |  |  | $ | 706,384 |
Operating income | $ | 23,028 |  |  | $ | 26,792 |  |  | $ | 29,894 |  |  | $ | 41,353 |
Net income | $ | 7,012 |  |  | $ | 7,133 |  |  | $ | 2,913 |  |  | $ | 12,391 |
Basic earnings per share attributable to common stockholders: |  |  |  |  |  |  |
Weighted average common shares outstanding | 58,109 |  |  | 52,885 |  |  | 58,070 |  |  | 52,331 |
Basic earnings per common share | $ | 0.12 |  |  | $ | 0.13 |  |  | $ | 0.05 |  |  | $ | 0.24 |
Diluted earnings per share attributable to common stockholders: |  |  |  |  |  |  |
Weighted average common shares outstanding | 58,199 |  |  | 52,980 |  |  | 58,161 |  |  | 52,427 |
Diluted earnings per common share | $ | 0.12 |  |  | $ | 0.13 |  |  | $ | 0.05 |  |  | $ | 0.24 |

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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/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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