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Acquisition (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands):
Total purchase price, net of cash and cash equivalents acquired |  |  |  | $ | 424,870 |
Fair value of net assets acquired: |  |  |  |
Current assets |  | $ | 346,885 |  |  |
Identifiable intangible assets - see description below |  | 158,100 |  |  |
Property and equipment |  | 2,266 |  |  |
Other assets |  | 246,158 |  |  |
Current liabilities |  | (330,051) |  |  |
Long-term liabilities, including long-term accounts payable |  | (115,171) |  |  |
Total fair value of net assets acquired |  |  |  | 308,187 |
Excess purchase price over fair value of net assets acquired ("goodwill") |  |  |  | $ | 116,683 |
Summary of Intangible Assets Acquired as Part of Business Combination | The identifiable intangibles resulting from the acquisition are amortized using the straight-line method over the following estimated useful lives:
Intangible Assets |  | Estimated Economic Life
Customer relationships |  | 10 Years
Trade name |  | 3 Years
Non-compete agreements |  | 3-5 Years

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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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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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