ACQUISITIONS AND BUSINESS COMBINATIONS (Tables)

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Schedule of Total Consideration and Amounts Related to the Assets Acquired and Liabilities Assumed

The total consideration for the Coram Acquisition and the amounts related to the assets acquired and liabilities assumed based on the estimated fair values as of the acquisition date were as follows:

($ in millions)	Coram Materials
Accounts receivable(1)	$	2.0
Inventory	10.0
Other current assets	0.3
Property, plant and equipment	130.9
Total assets acquired	143.2
Current liabilities	0.1
Other long-term liabilities	0.2
Total liabilities assumed	0.3
Total consideration (fair value)(2)	$	142.9

(1)     The aggregate fair value of the acquired accounts receivable approximated the aggregate gross contractual amount.

(2)     Consisted of a $140.2 million initial cash payment, a $1.7 million initial present value of deferred consideration, and a $1.6 million working capital adjustment paid in August 2020, less a $0.6 million settlement of accounts payable owed by the Company to Coram Materials at the acquisition date. The total amount of deferred consideration was $2.0 million, of which $1.0 million was paid in the six months ended June 30, 2021 and the remainder is due in February 2022.

Schedule of Unaudited Pro Forma Information

The pro forma consolidated financial results shown below represent our estimate of the Company's results of operations as if the Coram Acquisition had been completed on January 1, 2020.

($ in millions except per share)	Three Months Ended  June 30, 2020		Six Months Ended June 30, 2020
Revenue	$	322.7	$	659.2
Net income attributable to U.S. Concrete	$	9.3	$	7.7
Earnings per share attributable to U.S. Concrete - basic	$	0.56	$	0.46
Earnings per share attributable to U.S. Concrete - diluted	$	0.56	$	0.46

Schedule of Adjustments Reflected in Pro Forma Net Income (Loss) and Net Income (Loss) Per Share Amounts

The pro forma amounts above reflect the following adjustments:

($ in millions)	Three Months Ended  June 30, 2020		Six Months Ended June 30, 2020
Decrease in cost of goods sold related to fair value increase in inventory	$	2.6	$	4.2
Increase in depreciation, depletion and amortization expense	—		(0.9)
Exclusion of buyer transaction costs	0.1		0.6
Exclusion of seller transaction costs	—		0.3
Increase in interest expense	—		(0.8)
Increase in income tax expense	—		(1.1)