XML 75 R33.htm IDEA: XBRL DOCUMENT
v3.23.2

Acquisitions (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Summary of Consideration and Allocation to Assets Acquired and Liabilities Assumed | The following table summarizes the total consideration and allocation to assets acquired and liabilities assumed. The initial cash consideration was determined, in part, based upon estimated net working capital of the acquired entities at closing. The purchase price allocation is provisional and will be finalized through the one year measurement period. In the second quarter of 2023, certain adjustments were identified that affected the provisional accounting, as presented below. These were adjustments to net working capital and to the value of acquired interest in an InfraBridge fund based upon a revised net asset value ("NAV") of the fund, applying new information about facts and circumstances that existed at the time of acquisition.
(In thousands) |  | As Reported At March 31, 2023 |  | Measurement Period Adjustments |  | As Revised At June 30, 2023
Consideration |  |  |  |  |  |
Cash |  | $ | 364,338 |  |  | $ | 1,102 |  |  | $ | 365,440 |
Estimated fair value of contingent consideration |  | 10,874 |  |  | — |  |  | 10,874 |
|  | $ | 375,212 |  |  |  |  | $ | 376,314 |
Assets acquired and liabilities assumed |  |  |  |  |  |
Cash |  | 51,174 |  |  | — |  |  | 51,174 |
Principal investments |  | 130,810 |  |  | (12,400) |  |  | 118,410 |
Intangible assets |  | 50,800 |  |  | — |  |  | 50,800 |
Other assets |  | 27,682 |  |  | 8,517 |  |  | 36,199 |
Deferred tax liabilities |  | (10,198) |  |  | — |  |  | (10,198) |
Other liabilities |  | (21,625) |  |  | (10,190) |  |  | (31,815) |
Fair value of net assets acquired |  | 228,643 |  |  |  |  | 214,570 |
Goodwill |  | 146,569 |  |  | 15,175 |  |  | 161,744 |
|  | $ | 375,212 |  |  |  |  | $ | 376,314 |
The following table summarizes the allocation of cash consideration to assets acquired, which includes capitalized transaction costs.
|  |  |  | 2023 |  | 2022 |  |  |  |  |  |  |  |  |  |
(In thousands) |  |  |  | Acquisition by DataBank |  |  |  | TowerCo |  | Acquisitions by DataBank |  | Vantage SDC Expansion Capacity |  |  |  |  |  |  |  |  |  |
Purchase price allocation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate |  |  |  | $ | 153,944 |  |  |  |  | $ | 363,121 |  |  | $ | 627,474 |  |  | $ | 140,140 |  |  |  |  |  |  |  |  |  |  |
Intangible assets |  |  |  | 1,993 |  |  |  |  | 673,218 |  |  | 77,885 |  |  | 21,162 |  |  |  |  |  |  |  |  |  |  |
ROU and other assets |  |  |  | — |  |  |  |  | 234,462 |  |  | 3,994 |  |  | — |  |  |  |  |  |  |  |  |  |  |
Deferred tax liabilities |  |  |  | — |  |  |  |  | (243,223) |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |
Intangible, lease and other liabilities |  |  |  | (1,334) |  |  |  |  | (236,324) |  |  | (2,839) |  |  | — |  |  |  |  |  |  |  |  |  |  |
|  |  |  | $ | 154,603 |  |  |  |  | $ | 791,254 |  |  | $ | 706,514 |  |  | $ | 161,302 |  |  |  |  |  |  |  |  |  |  |

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

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration