XML 34 R27.htm IDEA: XBRL DOCUMENT v3.24.3

Mergers and Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

Business Acquisition [Line Items]

Schedule of Purchase Price Consideration

The following table summarizes the consideration for the Merger (in thousands, except stock price and shares):

Fair value of shares transferred to Dril-Quip shareholders (1)		$		530,909
Fair value of replacement Dril-Quip stock-based payment awards attributable to the purchase price				6,364
Total purchase price consideration		$		537,273

(1) The fair value of shares transferred to Dril-Quip stockholders is based on 34,452,230 shares of Dril-Quip common stock outstanding and the closing stock price of Dril-Quip common stock of $15.41 on the Closing Date.

Schedule of Preliminary Allocation to Estimated Fair Value of Identifiable Assets Acquired and Liabilities Assumed and resulting Gain on Bargain Purchase

The table below presents the preliminary allocation to the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting gain on bargain purchase as of the Closing Date (in thousands):

			Preliminary Purchase Price Allocation
Cash and restricted cash		$		154,312
Trade receivables				125,155
Contract assets				8,675
Inventories				148,958
Assets held for sale				1,535
Prepaid expenses and other current assets				20,023
Property and equipment, net				133,690
Right of use assets – operating				21,358
Deferred tax asset, net				124,634
Other long-term assets				5,461
Total assets				743,801
Accounts payable				48,887
Accrued expenses				28,906
Contract liabilities				14,332
Operating lease liabilities - current				2,080
Current portion of long-term debt and finance lease obligations				595
Other current liabilities				213
Long-term debt and finance lease obligations				1,645
Operating lease liabilities - noncurrent				15,397
Other long-term liabilities				1,814
Total liabilities				113,869
Net assets acquired				629,932
Gain on bargain purchase				(92,659	)
Total purchase consideration		$		537,273

Schedule of Unaudited Pro Forma Consolidated Results of Operations

Amounts are presented in thousands:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
Revenues	$	231,203			$	260,433			$	727,626			$	728,435
Net income	$	3,962			$	6,279			$	35,143			$	92,904

X

- Definition

Schedule of consideration for the merger part of business combination.

+ References

No definition available.

+ Details

Name:	invx_ScheduleOfConsiderationForTheMergerPartOfBusinessCombination
Namespace Prefix:	invx_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-5

+ Details

Name:	us-gaap_BusinessAcquisitionLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

+ Details

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration