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Acquisitions | 3 Months Ended
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Mar. 31, 2019
Business Combinations [Abstract] |
ACQUISITIONS | ACQUISITIONS On August 21, 2018, the Company acquired all of the outstanding stock of SolarBOS. SolarBOS is a provider of electrical balance of systems products, which consists of electrical components such as wiring, switches, and combiner boxes that support photovoltaic systems, for the U.S. solar renewable energy market. The Company expects the acquisition of SolarBOS to enable the Company to provide complementary product offerings to its existing customers and strengthen its position in the solar renewable energy market. The results of SolarBOS have been included in the Company's consolidated financial results since the date of acquisition (within the Company's Renewable Energy and Conservation segment). The aggregate purchase consideration for the acquisition of SolarBOS was $6.4 million, which includes a working capital adjustment and certain other adjustments provided for in the stock purchase agreement. The acquisition was financed through cash on hand. The purchase price for the acquisition was allocated to the assets acquired and liabilities assumed based upon their respective fair values. The excess consideration was recorded as goodwill and approximated $2.9 million, all of which is deductible for tax purposes. Goodwill represents future economic benefits arising from other assets acquired that could not be individually identified including workforce additions, growth opportunities, and increased presence in the solar renewable energy markets. The allocation of the purchase consideration to the fair value of the assets acquired and liabilities assumed is as follows as of the date of the acquisition (in thousands):
Cash | $ | 915 |
Working capital | 680 |
Property, plant and equipment | 483 |
Acquired intangible assets | 1,450 |
Other assets | 13 |
Other liabilities | (51 | )
Goodwill | 2,879 |
Fair value of purchase consideration | $ | 6,369 |
The intangible assets acquired in this acquisition consisted of the following (in thousands):
| Fair Value |  | Estimated Useful Life
Trademarks | $ | 300 |  |  | 3 years
Technology | 450 |  |  | 9 years
Customer relationships | 700 |  |  | 9 years
Total | $ | 1,450 |  |  |
During the three month periods ended March 31, 2019 and 2018, the Company did not incur any acquisition-related costs.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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- References No definition available. + Details
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