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Business acquisitions (Tables)
 12 Months Ended
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 value79,839 
Deferred consideration at estimated fair value27,014 
Contingent payment at estimated fair value7,243 
Total consideration transferred$179,668 
Equipment financing assumed203,946 
Total purchase price$383,614 
Purchase price allocation to assets acquired and liabilities assumed:
Cash$13,901 
Accounts receivable65,033 
Contract assets713 
Inventories12,155 
Prepaid expenses2,187 
Property, plant and equipment394,394 
Investments in affiliates and joint ventures85 
Intangible assets690 
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 receivable4,068 
Prepaid expenses30 
Property, plant and equipment9,562 
Operating lease right-of-use asset131 
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 value79,839 
Deferred consideration at estimated fair value27,014 
Contingent payment at estimated fair value7,243 
Total consideration transferred$179,668 
Equipment financing assumed203,946 
Total purchase price$383,614 
Purchase price allocation to assets acquired and liabilities assumed:
Cash$13,901 
Accounts receivable65,033 
Contract assets713 
Inventories12,155 
Prepaid expenses2,187 
Property, plant and equipment394,394 
Investments in affiliates and joint ventures85 
Intangible assets690 
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 31,20232022
Revenue$1,296,328 $1,086,460 
Net income89,658 78,261