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Business acquisition (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [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

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 reflects the impact of the transaction on the Company's consolidated results as if it had occurred on January 1, 2022.

Year ended December 31,						2023						2022
Revenue						$	1,296,328					$	1,086,460
Net income						89,658						78,261

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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- References

No definition available.

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X

- 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

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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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