Business Combinations (Tables)

12 Months Ended

Dec. 31, 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		74,918
Contract assets		75,359
Prepaid expenses and other current assets		13,590
Property, plant and equipment		58,587
Operating lease assets		16,340
Intangible assets:
Customer relationships		77,300
Tradename		11,600
Other long-term assets		6,466
Accounts payable and accrued liabilities		(103,015)
Contract liabilities		(43,853)
Long-term debt (including current portion)		(3,313)
Noncurrent operating lease liabilities, net of current		(12,004)
Deferred tax liability		(5,234)
Other long-term liabilities		(4,136)
Total identifiable net assets		205,757
Goodwill		275,736
Total purchase consideration	$	481,493

PLH and FIH

Acquisitions

Schedule of pro forma results

(in thousands, except per share amounts):

	Year Ended December 31,
	2022		2021
	(unaudited)		(unaudited)
Revenue	$	4,814,237	$	4,138,778
Income before provision for income taxes		149,125		79,421
Net income		124,537		60,543
Weighted average common shares outstanding:
Basic		53,200		52,674
Diluted		53,759		53,161
Earnings per share:
Basic	$	2.34	$	1.15
Diluted		2.32		1.14

FIH

Acquisitions

Summary of the cash paid for acquisitions

Purchase consideration (in thousands)
Total purchase consideration	$	615,249
Less cash and restricted cash acquired		(10,525)
Net cash paid	$	604,724

Summary of the identifiable assets acquired and liabilities assumed

Identifiable assets acquired and liabilities assumed (in thousands)
Cash and cash equivalents	$	10,525
Accounts receivable		54,337
Contract assets		32,343
Prepaid expenses and other current assets		483
Property, plant and equipment		56,128
Operating lease assets		13,105
Intangible assets:
Customer relationships		122,000
Tradename		4,400
Other long-term assets		6,976
Accounts payable and accrued liabilities		(29,838)
Contract liabilities		(2,256)
Long-term debt (including current portion)		(959)
Noncurrent operating lease liabilities, net of current		(10,975)
Other long-term liabilities		(7,581)
Total identifiable net assets		248,688
Goodwill		366,561
Total purchase consideration	$	615,249