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Organization and Description of Business (Tables) | 3 Months Ended
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Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Preliminary Purchase Price Allocation of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary allocation of the purchase price among assets acquired and liabilities assumed (in thousands):
| At January 12, 2026
Total current assets | $ | 136,404 |
Property and equipment, net | 868,672 |
Lease right-of-use assets, net | 4,589 |
Intangible assets, net (1) | 5,400 |
Other long-term assets, net | 1,296 |
Goodwill (2) | 117,446 |
Total assets | 1,133,807 |
Total current liabilities | 32,652 |
Non-current operating lease liabilities | 2,966 |
Deferred income taxes | 186,595 |
Total liabilities | 222,213 |
Total consideration | $ | 911,594 |
Cash acquired | 10,646 |
Total consideration, net of cash acquired | $ | 900,948 |
(1)Intangible assets, net is comprised of $5.4 million of trade names with a remaining useful life of approximately 3 years. (2)Goodwill recorded is primarily related to the recognition of deferred tax liabilities arising from acquisition date fair value adjustments with the remainder related to expected commercial and operational synergies, and is subject to change based on final purchase price allocations. None of the goodwill recorded as a result of this transaction is deductible for tax purposes.
Unaudited Pro Forma Results of Operations | The following unaudited pro forma consolidated results of operations for the three months ended March 31, 2026 and 2025 are presented as if the J-W Power Acquisition had been completed on January 1, 2025 (in thousands).
| Three Months Ended March 31,
| 2026 |  | 2025
Revenues | $ | 341,556 |  |  | $ | 324,583 |
Net income | 46,331 |  |  | 35,664 |

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