Business Acquisition (Tables)

6 Months Ended

Jun. 30, 2022

Business Combinations [Abstract]

Summary of Provisional Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed by the Company as of the January 14, 2022 acquisition date. The business combination accounting under Topic 805 was finalized for this acquisition during the three months ended June 30, 2022, with no changes to the provisional amounts disclosed for the three months ended March 31, 2022. The Company has elected to use both practical expedients provided by ASU No. 2021-08 for the valuation of contract assets and contract liabilities from contracts with customers, with no material impact to the unaudited condensed consolidated financial statements.

Cash	$	1,002
Accounts receivable		588
Other current assets		95
Property, plant and equipment		297
Intangible assets		1,100
Goodwill		4,791
Total assets acquired		7,873
Current liabilities		209
Deferred tax liability		235
Total liabilities assumed		444
Net assets acquired	$	7,429

Summary of Purchase Price Allocation to Identifiable Intangible Assets and Their Estimated Useful Lives

The following table summarizes the purchase price allocation to the identifiable intangible assets and their estimated useful lives as of the January 14, 2022 acquisition date:

	Amount		Useful Life (years)
Backlog	$	270		1
Customer relationships		710		5
Tradename/Trademark		120		1
	$	1,100