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BUSINESS COMBINATIONS (Tables)

9 Months Ended

Sep. 30, 2024

BUSINESS COMBINATIONS

Schedule of allocation of the consideration for net assets acquired

The allocation of the consideration for the net assets acquired by SHC from Southern Hydraulic Cylinder, Inc. were as follows:

​	​	​	​
(in thousands)	​	​	​
Sources of financing:	​	​	​
Cash	​	$	17,352
Fair value of consideration transferred	​	​	17,352
​	​	​	​
Fair value of assets and liabilities:	​	​	​
Accounts receivable	​	​	2,245
Fixed assets	​	​	3,735
Inventory	​	​	3,467
Prepaid insurance	​	​	71
Intangibles	​	​	193
Total identifiable assets acquired	​	​	9,711
​	​	​	​
Assumed liabilities	​	​	738
Goodwill	​	$	8,379

Schedule of pro forma summary of the Company

​

​	​	​	​	​	​
​	Nine Months Ended September 30
(in thousands)	​	2024	​	​	2023
Revenue	$	1,035,593	​	$	863,037
Income before income taxes	$	67,502	​	$	54,926

​

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

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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

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