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Acquisitions (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Schedule of Weighted Average Assumptions

The weighted-average assumptions under the Monte Carlo simulation model were as follows:

			February 28, 2021
Risk-free rate			0.1%
Revenue discount rate			8.8%
Revenue volatility			27.3%

Schedule of Allocations of Purchase Price

Assets acquired and liabilities assumed as of the acquisition date are presented in the following table:

			Proficient Transport
			February 28, 2021
Tangible assets:
Accounts receivable, net			$	3,865
Property and equipment			140
Other assets			10
Total tangible assets			4,015
Intangible assets:
Customer relationships			6,060
Non-compete agreements			18
Goodwill			5,754
Total intangible assets			11,832
Total assets acquired			15,847
Liabilities assumed:
Current liabilities			32
Total liabilities assumed			32
Net assets acquired			$	15,815

Schedule of Acquired Finite-Lived Intangible Assets

The weighted-average useful life of acquired intangible assets as of the acquisition date are summarized in the following table:

			Weighted-Average Useful Lives
Customer relationships			8 years
Non-compete agreements			1 year

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Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

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Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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