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Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The preliminary purchase price allocation is as follows (in thousands):
Receivables$9,122 
Contract assets16,193 
Inventories5,512 
Other current assets570 
Other assets214 
Property and equipment, net6,434 
Intangible asset - customer related59,000 
Goodwill40,095 
Operating lease right-of-use assets7,832 
     Total assets acquired 144,972 
Accounts payable(9,764)
Accrued expense and other current liabilities(5,680)
Long-term operating lease obligations(7,339)
     Total liabilities assumed(22,783)
Net assets acquired, excluding cash$122,189 
Cash consideration, net of cash acquired$112,189 
VSE Common stock, at fair value10,000 
Total$122,189 
The final purchase price allocation is as follows (in thousands):
Receivables$7,383 
Inventories31,228 
Other current assets515 
Property and equipment2,527 
Intangible assets21,950 
Goodwill53,942 
Operating lease right-of-use assets6,679 
     Total assets acquired124,224 
Accounts payable(10,128)
Accrued expenses and other current liabilities(5,793)
Long-term operating lease obligations(5,937)
Deferred tax liabilities(2,666)
     Total liabilities assumed(24,524)
Net assets acquired, excluding cash$99,700 
Cash consideration$101,870 
Post-close adjustment(2,170)
Total$99,700 
The final purchase price allocation is as follows (in thousands):
Other current assets (a)
$11,500 
Property and equipment2,714 
Intangible assets16,200 
Goodwill74,586 
     Total assets acquired$105,000 
Cash consideration$105,000 
Total consideration$105,000 
(a) Represents prepaid inventory consisting of finished goods acquired but not in our physical possession as of the acquisition date.
Schedule of Business Acquisition, Pro Forma Information The unaudited consolidated pro forma results of operations are as follows (in thousands):
Three months ended September 30,Nine months ended September 30,
2024202320242023
Revenue
273,613 253,508 812,893 686,520 
Income from continuing operations
11,739 11,262 21,712 26,378 
The unaudited consolidated pro forma results of operations are as follows (in thousands):
Nine months ended September 30, 2023
Revenue
$672,918 
Income from continuing operations
$31,377