XML 57 R40.htm IDEA: XBRL DOCUMENT v3.22.4

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following table summarizes the Quixote Acquisition Date fair value of the consideration transferred in connection with the acquisition:

Cash			$	199,098
Seller note			160,000
Total consideration			$	359,098

The following table summarizes the Acquisition Date fair value of the consideration transferred in connection with the acquisitions:

			Zio						Star Waggons
Cash			$	117,198					$	92,656
Contingent consideration			22,543						—
Total consideration			$	139,741					$	92,656

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the Quixote Acquisition Date, which are provisional measurements and subject to change:

Cash and cash equivalents			$	5,780
Accounts receivable			7,238
Prepaid expenses and other assets			3,788
Investment in real estate(1)			47,741
Non-real estate property, plant and equipment			65,939
Intangible assets			76,900
Operating lease right-of-use assets			106,115
Total assets acquired			313,501
Accounts payable, accrued liabilities and other			$	12,700
Operating lease liabilities			95,112
Total liabilities assumed			107,812
Net identifiable assets acquired			$	205,689
Goodwill			153,409
NET ASSETS ACQUIRED			$	359,098

_____________

1.Represents leasehold improvements related to Quixote’s leasehold interests in studio properties.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the respective Acquisition Dates:

			Zio						Star Waggons
Cash and cash equivalents			$	1,084					$	300
Accounts receivable			3,001						4,185
Prepaid expenses and other assets			1,509						1,605
Non-real estate property, plant and equipment			23,399						25,000
Intangible assets			41,670						33,480
Total assets acquired			70,663						64,570
Accounts payable, accrued liabilities and other			$	1,498					$	1,913
Intangible liabilities			—						110
Total liabilities assumed			1,498						2,023
Net identifiable assets acquired			$	69,165					$	62,547
Goodwill			70,576						30,109
NET ASSETS ACQUIRED			$	139,741					$	92,656

Business acquisition, pro Forma information

The amounts of revenue and loss from operations of Quixote included in the Company’s Consolidated Statement of Operations from the Quixote Acquisition Date to December 31, 2022 are as follows:

Revenue			$	33,200
Loss from operations			$	(5,290)

The following represents the pro forma Consolidated Statements of Operations as if the results of operations of Quixote had been included in the consolidated results of the Company for the years ended December 31, 2022 and 2021:

			Year Ended December 31, 2022						Year Ended December 31, 2021
Revenue			$	1,090,857					$	982,985
Net (loss) income			$	(17,715)					$	38,508

The amounts of revenue and income from operations of Zio and Star Waggons included in the Company’s Consolidated Statements of Operations from each respective Acquisition Date to December 31, 2021 are as follows:

			Zio						Star Waggons
Revenue			$	11,419					$	9,651
Income from operations			$	2,395					$	2,947

The following represents the pro forma Consolidated Statements of Operations as if the results of operations of Zio and Star Waggons had been included in the consolidated results of the Company for the years ended December 31, 2021 and 2020:

			Year Ended December 31, 2021						Year Ended December 31, 2020
Revenue			$	933,229					$	830,463
Net income			$	38,884					$	8,159

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 https://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 https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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 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 https://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 https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration