Acquisitions (Tables) - PLH Group Inc

9 Months Ended

Sep. 30, 2023

Acquisitions

Summary of the cash paid for acquisitions

Purchase consideration (in thousands)
Total purchase consideration	$	472,193
Less cash and restricted cash acquired		(43,152)
Net cash paid	$	429,041

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		74,739
Contract assets		74,700
Prepaid expenses and other current assets		10,858
Property, plant and equipment		51,824
Operating lease assets		16,340
Deferred tax asset		21,731
Intangible assets:
Customer relationships		77,300
Tradename		11,600
Other long-term assets		6,466
Accounts payable and accrued liabilities		(105,427)
Contract liabilities		(49,629)
Long-term debt (including current portion)		(3,313)
Noncurrent operating lease liabilities, net of current		(12,004)
Other long-term liabilities		(7,445)
Total identifiable net assets		210,892
Goodwill		261,301
Total purchase consideration	$	472,193

Schedule of pro forma results

	Three Months Ended		Nine Months Ended
	September 30, 2022		September 30, 2022
	(unaudited)		(unaudited)
Revenue	$	1,339,477	$	3,485,099
Income before provision for income taxes		62,760		101,760
Net income		51,111		81,815
Weighted average common shares outstanding:
Basic		53,181		53,228
Diluted		53,748		53,778
Earnings per share:
Basic	$	0.96	$	1.54
Diluted		0.95		1.52