Business Combinations (Tables)

12 Months Ended

Dec. 31, 2019

Willbros

Business combinations

Summary of the identifiable assets acquired and liabilities assumed

Purchase consideration (in thousands)
Total purchase consideration	$	164,758
Less cash and restricted cash acquired		(54,138)
Net cash paid		110,620

Identifiable assets acquired and liabilities assumed (in thousands)
Cash and restricted cash	$	54,138
Accounts receivable		103,186
Contract assets		30,762
Other current assets		18,255
Property, plant and equipment		30,522
Intangible assets:
Customer relationships		47,500
Tradename		200
Deferred income taxes		27,954
Other non-current assets		2,261
Accounts payable and accrued liabilities		(122,692)
Contract liabilities		(68,104)
Other non-current liabilities		(20,953)
Total identifiable net assets		103,029
Goodwill		61,729
Total purchase consideration	$	164,758

Schedule of pro forma results

	Year Ended December 31,
	2018
	(unaudited)
Revenue	$	3,265,690
Income before provision for income taxes	$	107,500
Net income attributable to Primoris	$	73,243
Weighted average common shares outstanding:
Basic		51,350
Diluted		51,670
Earnings per share:
Basic	$	1.43
Diluted	$	1.42

2017 Acquisitions

Business combinations

Summary of the identifiable assets acquired and liabilities assumed

The following table represents the identifiable assets acquired and liabilities assumed related to the 2017 acquisitions described above (in thousands):

Accounts receivable	$	10,721
Contract assets		580
Other current assets		2,352
Property, plant and equipment		12,402
Intangible assets		21,125
Goodwill		26,269
Accounts payable and accrued liabilities		(5,476)
Contract liabilities		(447)
Total	$	67,526