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ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2018
Business Combinations [Abstract] |
Schedule of Business Combination Consideration Transferred | The acquisition-date fair value of the consideration transferred totaled $282.3 million, which consisted of the following (in thousands, except shares):
| February 29, 2016
Common stock (8,208,006 shares) | $ | 209,529 |
Converted share-based payment awards | 2,001 |
Cash | 70,811 |
Total consideration | $ | 282,341 |
Summary of Purchase Price Allocation | The following table presents the purchase price allocation for Furmanite (in thousands):
| February 29, 2016
Cash and cash equivalents | $ | 37,734 |
Accounts receivable | 65,925 |
Inventory | 25,847 |
Current deferred tax assets | 19,857 |
Prepaid expenses and other current assets | 23,044 |
Current assets of discontinued operations | 18,623 |
Property, plant and equipment | 63,259 |
Intangible assets | 88,958 |
Goodwill | 89,646 |
Other non-current assets | 687 |
Non-current deferred tax assets | 2,542 |
Total assets acquired | 436,122 |
Accounts payable | 12,359 |
Other accrued liabilities | 33,127 |
Income taxes payable | 229 |
Current liabilities of discontinued operations | 1,434 |
Non-current deferred tax liabilities | 91,431 |
Defined benefit pension liability | 13,509 |
Other long-term liabilities | 1,692 |
Total liabilities assumed | 153,781 |
Net assets acquired | $ | 282,341 |
Summary of Pro Forma Consolidated Results of Operations | Our unaudited pro forma consolidated results of operations are shown below as if the acquisition of Furmanite had occurred on June 1, 2015. These results are not necessarily indicative of the results that would actually have occurred if the acquisition had taken place at June 1, 2015, nor are they necessarily indicative of future results (in thousands, except per share data).
| Pro forma data
| Year Ended December 31,
| 2016
| (unaudited)
Revenues | $ | 1,240,466 |
Income (loss) from continuing operations attributable to Team shareholders | $ | (7,497 | )
Earnings (loss) per share from continuing operations: |
Basic | $ | (0.25 | )
Diluted | $ | (0.25 | )

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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