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Parker Acquisition (Tables) | 6 Months Ended
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Jun. 30, 2025
Parker Acquisition |
Schedule of fair value of assets acquired and liabilities assumed | The table below presents the allocation of the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting gain on bargain purchase as of the closing date: ​
​ | ​ | ​ | ​ | ​
​ |  | Fair Value |
(In thousands) | ​ | at Acquisition |
Assets: | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | $ | 84,995 | ​
Accounts receivable | ​ |  | 132,084 | ​
Inventory | ​ |  | 4,576 | ​
Other current assets | ​ |  | 37,664 | ​
Property, plant and equipment | ​ |  | 264,500 | ​
Deferred income taxes | ​ |  | 66,828 | ​
Other assets | ​ |  | 43,910 | ​
Total assets acquired | ​ | ​ | 634,557 | ​
​ | ​ | ​ | ​ | ​
Liabilities: | ​ | ​ | ​ | ​
Trade accounts payable | ​ | $ | 43,774 | ​
Accrued liabilities | ​ | ​ | 66,808 | ​
Income taxes payable | ​ | ​ | 4,027 | ​
Other short-term liabilities | ​ | ​ | 6,462 | ​
Long-term debt | ​ | ​ | 177,755 | ​
Deferred income taxes | ​ | ​ | 2,594 | ​
Other liabilities | ​ | ​ | 36,076 | ​
Total liabilities assumed | ​ | ​ | 337,496 | ​
Net assets acquired | ​ | ​ | 297,061 | ​
Gain on bargain purchase | ​ | ​ | 116,499 | ​
Total consideration transferred | ​ | $ | 180,562 | ​
​
Schedule of selected financial information on a proforma basis | The pro forma condensed combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the Parker acquisition taken place on January 1, 2024. Furthermore, the financial information is not intended to be a projection of future results. The following table summarizes our selected financial information on a pro forma basis: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended |  | Six Months Ended
​ | ​ | June 30, |  | June 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
​ | ​ | (In thousands)
Operating revenues | ​ | $ | 832,788 | ​ | $ | 890,346 | ​ | $ | 1,672,093 | ​ | $ | 1,784,985
Net income (loss) | ​ |  | (3,770) | ​ |  | 190 | ​ |  | (32,432) | ​ |  | 79,981
​

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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 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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