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BUSINESS ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 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, Burlingame and Sullivan had been included in the consolidated results of the Company for the nine months ended September 30, 2022 and 2021, respectively:
|  | Nine Months Ended September 30,
|  | 2022 |  | 2021
|  | (in thousands/unaudited)
Revenue |  | $ | 1,092,823 |  |  | $ | 860,590 |
Net income |  | $ | 44,170 |  |  | $ | 19,492 |
Schedule of Purchase Price Consideration | In aggregate, the acquisition-date fair value of the consideration transferred for the four businesses totaled $67.9 million, which consisted of the following:
Purchase Price Consideration (in millions) |  | Total Consideration
Cash payments |  | $ | 53.9 |
Fair value of stock issued |  | 5.8 |
Future consideration |  | 8.2 |
Total purchase price consideration |  | $ | 67.9 |
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 (in thousands):
Acquisitions
| Cisco Recognized as of Acquisition Date (1) |  | Measurement Period Adjustments (2) |  | Cisco Recognized as of Acquisition Date (As Adjusted) |  | All Other |  | Total
Cash | $ | 4,352 |  |  | $ | — |  |  | $ | 4,352 |  |  | $ | 909 |  |  | $ | 5,261 |
Accounts receivable | 5,173 |  |  | — |  |  | 5,173 |  |  | 5,941 |  |  | 11,114 |
Other receivables | — |  |  | — |  |  | — |  |  | 56 |  |  | 56 |
Inventory | 3,032 |  |  | — |  |  | 3,032 |  |  | 37 |  |  | 3,069 |
Other current assets | 472 |  |  | (339) |  |  | 133 |  |  | 5 |  |  | 138 |
Non-compete agreements | 878 |  |  | (1) |  |  | 877 |  |  | 505 |  |  | 1,382 |
Customer relationships | 10,730 |  |  | 6,070 |  |  | 16,800 |  |  | 1,248 |  |  | 18,048 |
Property and equipment | 1,187 |  |  | — |  |  | 1,187 |  |  | 127 |  |  | 1,314 |
Operating lease ROU asset | 2,168 |  |  | — |  |  | 2,168 |  |  | — |  |  | 2,168 |
Other assets | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Assets acquired | $ | 27,992 |  |  | $ | 5,730 |  |  | $ | 33,722 |  |  | $ | 8,830 |  |  | $ | 42,552 |
Short-term operating lease liability | (463) |  |  | — |  |  | (463) |  |  | — |  |  | (463) |
Current liabilities assumed | (5,208) |  |  | — |  |  | (5,208) |  |  | (1,088) |  |  | (6,296) |
Long-term operating lease liability | (1,705) |  |  | — |  |  | (1,705) |  |  | — |  |  | (1,705) |
Deferred tax liability | (2,897) |  |  | (1,515) |  |  | (4,412) |  |  | — |  |  | (4,412) |
Net assets acquired | $ | 17,719 |  |  | $ | 4,215 |  |  | $ | 21,934 |  |  | $ | 7,742 |  |  | $ | 29,676 |
Total Consideration | 52,184 |  |  | (146) |  |  | 52,330 |  |  | 15,558 |  |  | 67,888 |
Goodwill | $ | 34,465 |  |  | $ | (4,069) |  |  | $ | 30,396 |  |  | $ | 7,816 |  |  | $ | 38,212 |
(1) As previously reported in the Notes section in our Quarterly Report on Form 10-Q for the quarter end June 30, 2022. (2) The measurement period adjustments primarily related to the final valuation of intangible assets related to the acquisition of Cisco.

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