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Business acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of fair value of the assets acquired and liabilities assumed at the acquisition date | The following table summarizes the total consideration paid for MacKellar and the fair values of the assets acquired and liabilities assumed at the acquisition date:
|  | October 1, 2023
Cash consideration |  | $ | 65,572 |
Earn-out at estimated fair value |  | 79,839 |
Deferred consideration at estimated fair value |  | 27,014 |
Contingent payment at estimated fair value |  | 7,243 |
Total consideration transferred |  | $ | 179,668 |
Equipment financing assumed |  | 203,946 |
Total purchase price |  | $ | 383,614 |
Purchase price allocation to assets acquired and liabilities assumed: |  |
Cash |  | $ | 13,901 |
Accounts receivable |  | 65,033 |
Contract assets |  | 713 |
Inventories |  | 12,155 |
Prepaid expenses |  | 2,187 |
Property, plant and equipment |  | 394,394 |
Investments in affiliates and joint ventures |  | 85 |
Intangible assets |  | 690 |
Accounts payable |  | (45,829) |
Accrued liabilities |  | (22,464) |
Other long-term obligations |  | (16,934) |
Deferred income tax liabilities |  | (20,317) |
Third party equipment financing assumed: |  |
Financing obligations |  | (173,430) |
Finance leases |  | (30,516) |
Total identifiable net assets at fair value |  | $ | 179,668 |
The following table summarizes the total consideration paid for ML Northern and the fair value of the assets acquired and liabilities assumed at the acquisition date:
Purchase price allocation to assets acquired and liabilities assumed: |  | October 1, 2022
Property, plant and equipment and working capital |  |
Cash |  | $ | 795 |
Accounts receivable |  | 4,068 |
Prepaid expenses |  | 30 |
Property, plant and equipment |  | 9,562 |
Operating lease right-of-use asset |  | 131 |
Accounts payable |  | (48) |
Accrued liabilities |  | (599) |
Deferred tax liabilities |  | (216) |
|  | $ | 13,723 |
Lease liabilities |  |
Finance lease liabilities |  | $ | (5,595) |
Operating lease liabilities |  | (126) |
|  | $ | (5,721) |
Total identifiable net assets at fair value |  | $ | 8,002 |
Schedule of total consideration paid | The following table summarizes the total consideration paid for MacKellar and the fair values of the assets acquired and liabilities assumed at the acquisition date:
|  | October 1, 2023
Cash consideration |  | $ | 65,572 |
Earn-out at estimated fair value |  | 79,839 |
Deferred consideration at estimated fair value |  | 27,014 |
Contingent payment at estimated fair value |  | 7,243 |
Total consideration transferred |  | $ | 179,668 |
Equipment financing assumed |  | 203,946 |
Total purchase price |  | $ | 383,614 |
Purchase price allocation to assets acquired and liabilities assumed: |  |
Cash |  | $ | 13,901 |
Accounts receivable |  | 65,033 |
Contract assets |  | 713 |
Inventories |  | 12,155 |
Prepaid expenses |  | 2,187 |
Property, plant and equipment |  | 394,394 |
Investments in affiliates and joint ventures |  | 85 |
Intangible assets |  | 690 |
Accounts payable |  | (45,829) |
Accrued liabilities |  | (22,464) |
Other long-term obligations |  | (16,934) |
Deferred income tax liabilities |  | (20,317) |
Third party equipment financing assumed: |  |
Financing obligations |  | (173,430) |
Finance leases |  | (30,516) |
Total identifiable net assets at fair value |  | $ | 179,668 |
Schedule of Unaudited Proforma Information | The following unaudited pro forma information gives effect to the transaction as if it had occurred on January 1, 2022. The unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the acquisition had occurred on January 1, 2022, nor are they indicative of future results of operations.
Year ended December 31, |  | 2023 |  | 2022
Revenue |  | $ | 1,296,328 |  |  | $ | 1,086,460 |
Net income |  | 89,658 |  |  | 78,261 |

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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 a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -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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