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Business Combinations (Tables)
9 Months Ended
Sep. 30, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed A summary of the preliminary fair values of the assets acquired and liabilities assumed and the measurement period adjustments recorded during the nine months ended September 30, 2021 is as follows (in thousands):
Initial Amounts Recognized as of the
Acquisition Date
Measurement Period AdjustmentsPreliminary Amounts Recognized as of the Acquisition Date (as Adjusted)
Assets
Land$29,352 $3,208 $32,560 
Buildings and improvements239,708 (87,428)152,280 
Machinery and equipment63,596 (38,248)25,348 
Assets under construction— 41 41 
Operating lease right-of-use assets26,400 739 27,139 
Cash and cash equivalents7,894 — 7,894 
Accounts receivable11,894 — 11,894 
Goodwill42,737 130,249 172,986 
Acquired identifiable intangibles:
Customer relationships102,732 1,268 104,000 
Other assets303 — 303 
Total assets524,616 9,829 534,445 
Liabilities
Accounts payable and accrued expenses4,006 2,117 6,123 
Operating lease obligations26,400 (661)25,739 
Deferred tax liability5,012 8,373 13,385 
Total liabilities35,418 9,829 45,247 
Total consideration for the Hall’s acquisition$489,198 $— $489,198 
A summary of the preliminary fair values of the assets acquired and liabilities assumed and the measurement period adjustments recorded during the nine months ended September 30, 2021 is as follows (in thousands):
Initial Amounts Recognized as of the
Acquisition Date
Measurement Period AdjustmentsPreliminary Amounts Recognized as of the Acquisition Date (as Adjusted)
Assets
Land$95,286 $56,749 $152,035 
Building and improvements778,170(132,809)645,361
Machinery and equipment206,45321,487 227,940
Assets under construction— 15,416 15,416
Operating lease right-of-use assets191,22912,552 203,781
Financing lease asset46,845(14,531)32,314
Cash and cash equivalents47,534— 47,534
Accounts receivable78,423(1,132)77,291
Goodwill346,67357,550 404,223
Acquired identifiable intangibles:
Customer relationships333,501(58,357)275,144
Investment in partially owned entities21,638(9,738)11,900
Other assets20,0387,219 27,257
Total assets2,165,790 (45,594)2,120,196 
Liabilities
Accounts payable and accrued expenses90,86014,397 105,257
Operating lease obligations191,2292,688 193,917
Financing lease obligations46,845(14,531)32,314
Sale-leaseback obligations73,075— 73,075
Deferred tax liability175,719(49,385)126,334 
Total liabilities577,728 (46,831)530,897 
Total consideration for the Agro acquisition$1,588,062 $1,237 $1,589,299 
Pro Forma Information
The accompanying unaudited pro forma consolidated financial statements exclude the results of the AM-C, Bowman Stores, ColdCo, Halls, KMT Brrr!, Lanier, Liberty Freezers and Newark Facility Management acquisitions, which were deemed immaterial individually and in the aggregate based on quantitative and qualitative considerations. Additionally, the Company has not presented pro forma combined results of operations for the acquisitions of Nova Cold and Newport, because the results of operations as reported in the accompanying Condensed Consolidated Statements of Operations would not have been materially different. These statements are provided for illustrative purposes only and do not purport to represent what the actual Consolidated Statements of Operations of the Company would have been had the Agro acquisition occurred on the dates assumed, nor are they necessarily indicative of what the results of operations would be for any future periods.
Pro forma (unaudited)
(in thousands, except per share data)
Three Months EndedNine Months Ended
September 30, 2020
Total revenue$643,195 $1,859,384 
Net (loss) income attributable to Americold Realty Trust$(3,264)$28,247 
Net (loss) income per share, diluted(1)
$(0.01)$0.11 
(1)Adjusted to give effect to the issuance of 46.1 million common shares in connection with the Agro Acquisition.