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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2019
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | A summary of the fair value of the assets acquired and liabilities assumed is as follows (in thousands):
Cash | $ | 200 |
Inventories | 4,138 |
Prepaid and other current assets | 243 |
Property, plant, and equipment | 30,230 |
Goodwill (1) | 46,210 |
Accounts payable and other current liabilities | (759 | )
Long-term capital lease obligations | (5,244 | )
Other non-current liabilities | (487 | )
Total | $ | 74,531 |
________________________________________________________ (1) The total goodwill balance of $46.2 million was allocated to our retail segment. A summary of the preliminary estimated fair value of the assets acquired and liabilities assumed is as follows (in thousands):
Cash | $ | 16,146 |
Accounts receivable | 34,954 |
Inventories | 98,367 |
Prepaid and other assets | 5,320 |
Property, plant, and equipment | 412,766 |
Operating lease assets | 62,337 |
Goodwill (1) | 40,415 |
Total assets (2) | 670,305 |
Obligations under inventory financing agreements | (116,873 | )
Accounts payable | (55,444 | )
Current operating lease obligations | (21,571 | )
Other current liabilities | (18,411 | )
Long-term operating lease obligations | (40,766 | )
Deferred tax liability | (89,909 | )
Other non-current liabilities | (804 | )
Total liabilities | (343,778 | )
Total | $ | 326,527 |
______________________________________________
(1) | We allocated $23.4 million and $17.0 million of goodwill to our refining and logistics segments, respectively.
(2) We allocated $402.7 million and $267.6 million of total assets to our refining and logistics segments, respectively.
Business Acquisition, Pro Forma Information | The following unaudited pro forma financial information presents our consolidated revenues and net income (loss) as if the Washington Acquisition had been completed on January 1, 2018 (in thousands except per share information):
| Nine Months Ended September 30,
| 2019 |  | 2018
Revenues | $ | 4,030,290 |  |  | $ | 3,515,536 |
Net income (loss) | (72,544 | ) |  | 19,897 |
Income (loss) per share |  |  |
Basic | $ | (1.45 | ) |  | $ | 0.41 |
Diluted | $ | (1.45 | ) |  | $ | 0.41 |

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- 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 http://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 http://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 http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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