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BUSINESS ACQUISITIONS (Tables) | 9 Months Ended
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Sep. 30, 2023
BUSINESS ACQUISITIONS |
Schedule of assets acquired and liabilities assumed measured at their fair values as of the acquisition date | ​
​ | ​ | ​ | ​
​ | ​ | Preliminary Fair Value
(in thousands) | ​ | as of July 1, 2023
Accounts receivable | ​ | $ | 12,836
Inventories | ​ | ​ | 1,373
Prepaid and other current assets | ​ | ​ | 384
Accounts payable | ​ | ​ | (4,499)
Property, plant and equipment | ​ | ​ | 37,374
Operating lease right-of-use assets | ​ | ​ | 46
Current portion of operating lease liabilities | ​ | ​ | (31)
Long-term operating lease liabilities | ​ | ​ | (15)
Finance lease right-of-use assets | ​ | ​ | 1,165
Current portion of finance lease liabilities | ​ | ​ | (247)
Long-term finance lease liabilities | ​ | ​ | (944)
Goodwill | ​ | ​ | 18,674
Other intangibles | ​ | ​ | 13,200
Total consideration | ​ | ​ | 79,316
Less: Assumption of capital lease liabilities (1) | ​ | ​ | (518)
Total cash consideration | ​ | $ | 78,798
​ | ​ | ​ | ​
(1) Disclosed as part of Accrued expenses and other current liabilities on | ​ | ​ | ​
the Consolidated Balance Sheet as of September 30, 2023. | ​ | ​ | ​
Schedule of preliminary fair values assigned to identifiable intangible asset | ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Weighted-Average
(in thousands) | ​ | Fair Value | Amortization Period (Years)
​ | ​ | ​ | ​ | ​ | ​
Customer Relationships | ​ | $ | 10,000 | ​ | 10
Trade Names and Trademarks | ​ | ​ | 3,200 | ​ | 10
Total Amortizable Intangible Assets | ​ | $ | 13,200 | ​ | ​
Schedule of pro forma financial information | ​
​ | ​ | ​ | ​
(in thousands) | ​ | Three months ended September 30, 2023
Revenues | ​ | $ | 22,173
Net income | ​ | ​ | 1,761
​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30,
(in thousands) | ​ | ​ | 2023 | ​ | 2022
Revenues | ​ | $ | 330,417 | $ | 482,779
Net income | ​ | ​ | 18,317 | ​ | 73,405
​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended September 30,
(in thousands) | ​ | ​ | 2023 | ​ | 2022
Revenues | ​ | $ | 1,274,700 | $ | 1,183,765
Net income | ​ | ​ | 163,951 | ​ | 143,075
​

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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 -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
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + 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 -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
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