XML 83 R29.htm IDEA: XBRL DOCUMENT
v3.20.1

Acquisition (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Business Combinations [Abstract] |
Schedule of Business Acquisitions, by Acquisition | Based on the Company's valuation, the total consideration of approximately $113 million (excluding any earn-out payments), which includes a final cash and net working capital consideration of $1.1 million, has been allocated to assets acquired (including identifiable intangible assets and goodwill) and liabilities assumed, as follows (in thousands):
Description |  | Fair Value
Accounts receivable |  | $ | 7,295 |
Unbilled receivables |  | 431 |
Inventories |  | 8,016 |
Prepaid expenses and other current assets |  | 766 |
Property and equipment |  | 4,521 |
Intangibles - customer related |  | 54,500 |
Intangibles - trade name |  | 2,100 |
Goodwill |  | 77,828 |
Operating lease right-of-use assets |  | 2,594 |
Other assets |  | 333 |
Other current liabilities |  | (6,576 | )
Long-term operating lease liabilities |  | (2,127 | )
|  | $ | 149,681 |
Cash consideration |  | $ | 113,181 |
Acquisition date estimated fair value of earn-out obligation |  | 34,800 |
Section 338(h)(10) election |  | 1,700 |
Total |  | $ | 149,681 |
Business Acquisition, Pro Forma Information | The unaudited consolidated pro forma results of operations are as follows (in thousands except per share amounts):
|  |  |  |  |  | Year ended December 31,
|  |  |  |  |  |  |  | 2018
Revenue |  |  |  |  |  |  |  | $ | 743,347 |
Net Income |  |  |  |  |  |  |  | $ | 35,963 |
Basic earnings per share |  |  |  |  |  |  |  | $ | 3.31 |
Diluted earnings per share |  |  |  |  |  |  |  | $ | 3.29 |

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -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://fasb.org/us-gaap/role/ref/legacyRef -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
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration