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Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Summary of Purchase Price Allocation to Acquisition | A summary of the initial purchase price allocation of the acquisition is as follows (Dollars in thousands):
Cash paid and payable and liabilities assumed |  |
Cash paid and payable |  | $ | 34,523 |
Accounts payable and accrued expenses |  | 4,086 |
Lease obligation |  | 620 |
Deferred compensation |  | 2,938 |
|  | $ | 42,167 |
Fair value of assets acquired |  |
Goodwill |  | $ | 15,816 |
Inventories |  | 7,797 |
Accounts receivable |  | 7,706 |
Customer relationships |  | 4,961 |
Trade names |  | 2,775 |
Property, plant and equipment |  | 2,121 |
Right of use asset |  | 620 |
Other assets |  | 371 |
|  | $ | 42,167 |
Unaudited Pro Forma Revenue and Net Income for Lawson Products Assuming the Partsmaster Acquisition Closed | The following table contains unaudited pro forma revenue and net income for Lawson Products assuming the Partsmaster acquisition closed on January 1, 2019.
| (Unaudited)
| Pro Forma Year Ended December 31,
| 2020 |  | 2019
Revenue | 396,679 |  |  | 435,486 |
Net Income | 16,535 |  |  | 7,277 |

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- Definition Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(4) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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