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Merger (Tables) | 3 Months Ended
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Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Fair Value of the Consideration Transferred | The Closing Date fair value of the consideration transferred totaled $634.0 million, which was comprised of the following:
(In thousands, except share and per share amounts) |  | Purchase Price
Shares of V2X common stock issued |  | 18,591,866 |
Market price per share of V2X as of Closing Date |  | $ | 33.92 |
Fair value of common shares issued |  | $ | 630,636 |
Fair value of cash consideration |  | 3,315 |
Total consideration transferred |  | $ | 633,951 |
Purchase Price Allocation | The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed in the Merger as of the Closing Date. The estimated fair value of Vertex’s assets acquired and liabilities assumed at the acquisition date are determined based on preliminary valuations and analyses. As of March 31, 2023, we considered these amounts to be preliminary because we are still in the process of gathering and reviewing information to support the details surrounding tax matters and assumptions underlying certain existing or potential reserves. The final determination could result in further adjustments.
(In thousands) |  | Preliminary Fair Value
Cash and cash equivalents |  | $ | 196,993 |
Receivables |  | 334,655 |
Prepaid expenses |  | 49,172 |
Property, plant, and equipment |  | 53,618 |
Intangible assets |  | 480,000 |
Other non-current assets |  | 18,895 |
Right-of-use assets |  | 21,062 |
Accounts payable |  | (121,515) |
Debt |  | (1,352,303) |
Compensation and other employee benefits |  | (45,968) |
Other current and non-current liabilities |  | (334,469) |
Total identifiable net assets |  | (699,860) |
Goodwill |  | 1,333,811 |
Total purchase consideration |  | $ | 633,951 |
Schedule of Pro Forma Information | This unaudited pro forma information is presented for informational purposes only and may not necessarily reflect the actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.
|  | Three Months Ended
|  | March 31, 2023 |  | April 1, 2022
(Unaudited, in thousands) |  | Actual |  | Pro forma
Revenue |  | $ | 943,460 |  |  | $ | 842,741 |
Net (loss) income |  | $ | (17,480) |  |  | $ | 11,953 |

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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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