Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

PLH Group Inc

Acquisitions

Summary of the cash paid for acquisitions

Purchase consideration (in thousands)
Total purchase consideration	$	481,493
Less cash and restricted cash acquired		(43,152)
Net cash paid	$	438,341

Summary of the identifiable assets acquired and liabilities assumed

Identifiable assets acquired and liabilities assumed (in thousands)
Cash, cash equivalents and restricted cash	$	43,152
Accounts receivable		74,411
Contract assets		75,359
Prepaid expenses and other current assets		13,444
Property, plant and equipment		63,528
Operating lease assets		16,340
Intangible assets:
Customer relationships		84,900
Tradename		17,700
Deferred tax assets		6,008
Other long-term assets		6,418
Accounts payable and accrued liabilities		(98,282)
Contract liabilities		(25,488)
Long-term debt (including current portion)		(3,313)
Noncurrent operating lease liabilities, net of current		(12,004)
Deferred tax liability		(3,032)
Other long-term liabilities		(4,136)
Total identifiable net assets		255,005
Goodwill		226,488
Total purchase consideration	$	481,493

PLH and FIH

Acquisitions

Schedule of pro forma results

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
Revenue	$	1,339,477	$	1,102,971	$	3,485,099	$	3,038,474
Income before provision for income taxes		62,760		59,194		101,760		43,679
Net income		51,111		42,220		81,815		31,669
Weighted average common shares outstanding:
Basic		53,181		53,769		53,228		52,407
Diluted		53,748		54,367		53,778		54,946
Earnings per share:
Basic	$	0.96	$	0.79	$	1.54	$	0.60
Diluted		0.95		0.78		1.52		0.58