Business Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022

Business Combinations [Abstract]

Schedule of the fair values of the assets acquires and liabilities assumed

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition dates for acquisitions closed during fiscal years 2022, 2021, and 2020:

	2022		2021		2020
	Total		Total		Total
Cash	$	—	$	1,480	$	—
Billed and unbilled receivables, net	1,807		17,728		1,439
Right-of-use assets	632		2,932		—
Property and equipment	1,510		3,741		28
Prepaid expenses	—		519		33
Other assets	—		13		28
Intangible assets:
Customer relationships	3,612		36,338		237
Trade name	268		2,098		30
Customer backlog	460		3,847		56
Other	281		4,456		5
Total Assets	$	8,570	$	73,152	$	1,856
Liabilities	(5,623)		(13,984)		(345)
Deferred tax liabilities	—		(4,521)		(86)
Net assets acquired	$	2,947	$	54,647	$	1,425
Consideration paid (Cash, notes and/or stock)	$	7,921	$	95,316	$	1,694
Contingent earn-out liability (Cash and stock)	6,299		5,133		255
Total Consideration	$	14,220	$	100,449	$	1,949
Excess consideration over the amounts assigned to the net assets acquired (Goodwill)	$	11,273	$	45,802	$	524

Schedule of Pro forma consolidated results of operations

The following table presents the results of operations of businesses acquired from their respective dates of acquisition for fiscal years 2022, 2021, and 2020.

	2022		2021		2020
Gross revenues	$	5,211	$	29,965	$	851
Income before income taxes	$	985	$	5,167	$	31

The following table presents the unaudited, pro forma consolidated results of operations (in thousands, except per share amounts) for fiscal years 2022, 2021, and 2020 as if the 2022 acquisitions had occurred at the beginning of fiscal year 2021 and the 2021 acquisitions had occurred at the beginning of fiscal year 2020. The pro forma information provided below is compiled from the pre-acquisition financial information and includes pro forma adjustments for amortization expense, adjustments to certain expenses, and the income tax impact of these adjustments. These unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the

Company would have been if the acquisitions and related financing transactions had occurred on the date assumed, nor are they indicative of future results of operations.

	Fiscal Years Ended
	2022		2021		2020
Gross revenues	$	789,934	$	765,632	$	720,039
Net income	$	50,071	$	49,769	$	22,774
Basic earnings per share	$	3.39	$	3.50	$	1.83
Diluted earnings per share	$	3.28	$	3.38	$	1.78