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Business Combinations (Tables)

9 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The table below presents the calculation of the total purchase consideration:

Base price consideration						$	2,000
20-day volume weighted average price of Smart Sand stock						$	1.33
Shares issued						1,504
Closing share price on September 18, 2020						$	1.37
Total purchase consideration						$	2,060

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The Company’s preliminary allocation of the purchase price in connection with the acquisition was calculated as follows:

												Fair Value
Assets Acquired
			Cash									$	309
			Accounts receivable									75
			Inventory									2,459
			Prepaid expenses and other current assets									123
			Property, plant and equipment									60,310
			Right-of-use assets									9,603
						Total assets acquired						72,879
Liabilities Assumed
			Accounts payable									16
			Accrued expenses and other liabilities									2,010
			Asset retirement obligations									8,424
			Operating lease liabilities									9,603
			Deferred income taxes									10,877
						Total liabilities assumed						30,930
						Estimated fair value of net assets acquired						$	41,949

Business Acquisition, Pro Forma Information

The following represents pro forma consolidated revenue and income before income tax expense as if Eagle Proppants Holdings had been included in the consolidated results of the Company for the three and nine months ended September 30, 2020 and 2019. These amounts have been calculated after applying the Company’s accounting policies and adjusting the results of Eagle Proppants Holdings to reflect the depreciation and accretion expense that would have been charged assuming the fair value adjustments to property, plant and equipment and asset retirement obligations as well as equipment rent that would have been recorded based on the acquired right-of-use assets.

						Three Months Ended September 30,												Nine Months Ended September 30,
						2020						2019						2020						2019
Revenues						$	23,442					$	78,115					$	105,852					$	226,942
Income before income tax expense						$	34,614					$	12,297					$	39,700					$	33,484

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

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-Name Accounting Standards Codification
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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

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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.

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