Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Fair Value of Assets and Liabilities Assumed

The preliminary estimated fair value of assets acquired, and liabilities assumed as of the closing date, are as follows:

	Preliminary Allocation
Accounts receivable	$	6,653
Inventories		9,543
Contract assets, net		5,242
Prepaid expenses and other assets		90
Property and equipment		11,422
Operating lease right-of-use asset		12,259
Intangible assets		91,900
Total assets acquired		137,109
Accounts payable		(2,482	)
Accrued and other liabilities		(1,270	)
Deferred tax liabilities		(23,604	)
Operating lease liability		(12,259	)
Total liabilities assumed		(39,615	)
Net assets acquired		97,494
Goodwill		90,300
Fair value of consideration transferred	$	187,794
Consideration:
Cash	$	187,794
Fair value of consideration transferred	$	187,794

Schedule for Valuation of Identifiable Intangible Assets Acquired and Estimate of Useful Lives

The valuation of the identifiable intangible assets acquired in the Martin Acquisition and our estimate of their respective useful lives are as follows:

			Initial
	Preliminary		Useful Life
	Valuation		(in years)
(in thousands)
Trade name	$	24,000	indefinite
Customer relationships		52,700	15
Customer-related backlog (amortized in 2022)		400	<1
Developed technology		14,600	3 - 14
Non-compete-related intangible		200	5
Intangible assets, net	$	91,900