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Acquisitions Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2020
Business Combinations [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the breakdown of the purchase price allocation for these businesses and the subsequent adjustments made based on additional information which became available prior to June 30, 2020 (in thousands):
| Initial Purchase Price Allocation |  | Adjustments |  | Adjusted Purchase Price Allocation
Current assets | $ | 1,482 |  |  | $ | 187 |  |  | $ | 1,669 |
Preneed trust assets | 15,891 |  |  | — |  |  | 15,891 |
Property, plant & equipment | 21,680 |  |  | — |  |  | 21,680 |
Cemetery property | 11,994 |  |  | (45 | ) |  | 11,949 |
Goodwill | 99,344 |  |  | (825 | ) |  | 98,519 |
Intangible and other non-current assets | 8,269 |  |  | — |  |  | 8,269 |
Assumed liabilities | (657 | ) |  | (145 | ) |  | (802 | )
Preneed trust liabilities | (15,463 | ) |  | — |  |  | (15,463 | )
Deferred revenue | (1,633 | ) |  | 992 |  |  | (641 | )
Purchase price | $ | 140,907 |  |  | $ | 164 |  |  | $ | 141,071 |
During the three months ended June 30, 2020, we paid an additional $164,000 for our acquisition of the cemetery business in Fairfax, Virginia to reimburse the sellers for certain incremental taxes resulting from the 338(h)(10) election under the Internal Revenue Code. We also received $153,000 in cash, recorded in Current assets, related to the closing of all operating bank accounts in place prior to the acquisition. As of June 30, 2020, our accounting for cemetery receivables, cemetery property, deferred revenue and deferred tax liabilities for our 2019 acquisitions has not been finalized.
| Initial Purchase Price Allocation |  | Adjustments |  | Adjusted Purchase Price Allocation
Current assets | $ | 2,662 |  |  | $ | (107 | ) |  | $ | 2,555 |
Preneed trust assets | 9,089 |  |  |  |  | 9,089 |
Property, plant & equipment | 1,720 |  |  |  |  | 1,720 |
Cemetery property | 14,753 |  |  |  |  | 14,753 |
Goodwill | 12,916 |  |  | 110 |  |  | 13,026 |
Intangible and other non-current assets | 2,506 |  |  |  |  | 2,506 |
Assumed liabilities | (489 | ) |  |  |  | (489 | )
Deferred tax liability | (527 | ) |  | (3 | ) |  | (530 | )
Preneed trust liabilities | (9,089 | ) |  |  |  | (9,089 | )
Deferred revenue | (541 | ) |  |  |  | (541 | )
Purchase price | $ | 33,000 |  |  | $ | — |  |  | $ | 33,000 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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