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BUSINESS ACQUISITIONS (Tables) | 6 Months Ended
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Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Pro Forma Unaudited Revenue and Earnings Included in Consolidated Results | The following represents the pro forma unaudited revenue and earnings as if Cisco, Drydon and Burlingame had been included in the consolidated results of the Company for the six months ended June 30, 2022 and 2021, respectively:
|  | Six Months Ended June 30,
|  | 2022 |  | 2021
|  | (in thousands/unaudited)
Revenue |  | $ | 703,040 |  |  | $ | 555,052 |
Net income |  | $ | 29,286 |  |  | $ | 11,302 |
Schedule of Purchase Price Consideration | In aggregate, the acquisition-date fair value of the consideration transferred for the three businesses totaled $61.2 million, which consisted of the following:
Purchase Price Consideration (in millions) |  | Total Consideration
Cash payments |  | $ | 49.3 |
Fair value of stock issued |  | 4.7 |
Future consideration |  | 7.2 |
Total purchase price consideration |  | $ | 61.2 |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date:
Acquisitions
(In thousands) | Cisco | All Other | Total
Cash | $ | 4,352 |  | $ | 517 |  | $ | 4,869 |
Accounts receivable | 5,173 |  | 2,698 |  | 7,871 |
Other receivables | — |  | 56 |  | 56 |
Inventory | 3,032 |  | 37 |  | 3,069 |
Other current assets | 472 |  | — |  | 472 |
Non-compete agreements | 878 |  | 229 |  | 1,107 |
Customer relationships | 10,730 |  | 964 |  | 11,694 |
Property and equipment | 1,187 |  | 124 |  | 1,311 |
Operating lease ROU asset | 2,168 |  | — |  | 2,168 |
Other assets | — |  | 2 |  | 2 |
Assets acquired | $ | 27,992 |  | $ | 4,627 |  | $ | 32,619 |
Short-term operating lease liability | (463) |  | — |  | (463) |
Current liabilities assumed | (5,208) |  | (1,061) |  | (6,269) |
Long-term operating lease liability | (1,705) |  | — |  | (1,705) |
Deferred tax liability | (2,897) |  | — |  | (2,897) |
Net assets acquired | $ | 17,719 |  | $ | 3,566 |  | $ | 21,285 |
Total Consideration | 52,184 |  | 9,049 |  | 61,233 |
Goodwill | $ | 34,465 |  | $ | 5,483 |  | $ | 39,948 |

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- 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
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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 -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
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