XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.3
BUSINESS COMBINATIONS (Tables)
 9 Months Ended
Sep. 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:
 Nine Months Ended
September 30,
 20242023
Purchase Price:
Cash used in acquisitions, net of cash acquired$261,235 $842,635 
Working capital settlements
(2,633)— 
Holdbacks and additional consideration owed
1,575 2,435 
Total consideration$260,177 $845,070 
Allocated as follows:
Current assets$7,309 $19,297 
Property, plant and equipment:
Land1,310 6,760 
Buildings and improvements1,004 29,636 
Machinery and equipment56,396 175,309 
Operating lease right-of-use assets5,222 11,732 
Intangible assets:
Trade names1,970 — 
Covenants not-to-compete10,754 37,648 
Customer relationships57,713 145,553 
Deferred tax liability(23,509)(11,013)
Current liabilities(23,268)(21,724)
Operating lease liabilities, less current portion(5,092)(9,939)
Other long-term liabilities— (828)
Fair value of assets acquired and liabilities assumed89,809 382,431 
Excess purchase price allocated to goodwill$170,368 $462,639 
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
September 30,		Nine Months Ended
September 30,
 2024202320242023
Revenues$419,593 $400,081 $1,195,575 $1,164,131 
Operating income$23,891 $33,298 $51,151 $72,018 
Net income$5,481 $16,765 $5,961 $26,723 
Basic earnings per share attributable to common stockholders:
Weighted average common shares outstanding58,808 57,962 58,318 54,228 
Basic earnings per common share$0.09 $0.29 $0.10 $0.49 
Diluted earnings per share attributable to common stockholders:
Weighted average common shares outstanding58,921 58,062 58,415 54,325 
Diluted earnings per common share$0.09 $0.29 $0.10 $0.49