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Acquisitions | 9 Months Ended
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Sep. 30, 2021
Solaris Midstream Holdings, LLC and Subsidiaries |
Acquisitions |
Acquisitions | 4.Acquisitions On June 11, 2020, we acquired certain produced water handling, transportation and water disposal assets in Lea County, New Mexico of a wholly-owned subsidiary of Concho. This acquisition further expanded our water infrastructure system in the Delaware basin and further extended and expanded our water management agreement with Concho. The net purchase consideration was $149.6 million, which comprised $77.6 million of Class A Units (4,561,391 units) and $72.0 million of Redeemable Preferred Units with a face value of $75.0 million. (See Note 9 – Redeemable Preferred Units). We incurred $1.6 million of acquisition-related costs, which are included in Transaction Costs in 2020. The following table sets forth our purchase price allocation: ​
​ | ​ | ​ | ​
Fair Value of Consideration |  | ​ | ​
Class A Units Issued to Seller | ​ | $ | 77,602
Redeemable Preferred Units Issued to Seller | ​ | ​ | 71,974
Total Consideration | ​ | ​ | 149,576
​ | ​ | ​ | ​
Fair Value of Assets and Liabilities Acquired | ​ | ​ | ​
Property, Plant and Equipment - Water Handling Facilities | ​ | ​ | 18,566
Property, Plant and Equipment - Pipelines (including right of way) | ​ | ​ | 33,897
Intangible Assets - Contracts | ​ | ​ | 90,300
Asset Retirement Obligations | ​ | ​ | (776)
Total Assets Acquired | ​ | $ | 141,987
Goodwill | ​ | ​ | 7,589
​ The unaudited pro forma results presented below have been prepared to give effect to the acquisition discussed above on our results of operations for the nine months ended September 30, 2020 as if the Concho Lea County acquisition had been consummated on January 1, 2020. The unaudited pro forma results do not purport to represent what our actual results of operations would have been if the acquisition had been completed on such date or to project its results of operation for any future date or period. ​
​ | ​ | ​ | ​
​ |  | Nine Months
(in thousands) | ​ | Ended
​ | ​ | September 30, 2020
Pro Forma (unaudited) | ​ | ​ | ​
Total Revenues | ​ | $ | 129,749
Net Income | ​ | $ | 924
​

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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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