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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

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- References

No definition available.

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- 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

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