Below is a summary of each significant acquisition by year, including revenue and net income (loss) since date of acquisition, shown for the year of acquisition. The largest of our 2022 acquisitions were Central Aluminum Supply Corporation and Central Aluminum Supply of North Jersey, LLC (collectively "CAS") in April 2022 and ABS Insulating Company, Inc., ABS Sprayfoam Insulation, Inc. and ABS Coastal Insulating Company, LLC (collectively "ABS") in December 2022. In each table, “Other” represents acquisitions that were individually immaterial in that year. Net income (loss), as noted below, includes amortization, taxes and interest allocations when appropriate. Prior period amounts have been recast to conform with the current year presentation.


2022 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
CAS	4/11/2022	Share	$	55,150	$	22,927	$	78,077	$	37,822	$	(1,001)


ABS	12/19/2022	Share	23,150		412		23,562		658		(97)
Other	Various	Asset/Share	35,759		3,639		39,398		22,576		787
Total			$	114,059	$	26,978	$	141,037	$	61,056	$	(311)


2021 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
IWI	03/01/2021	Share	$	42,098	$	5,959	$	48,057	$	36,259	$	3,373
Five Star	9/13/2021	Share	26,308		5,466		31,774		6,861		(119)
AMD	12/13/2021	Asset	119,490		6,631		126,121		3,707		(225)
Other	Various	Asset/Share	55,119		9,835		64,954		35,604		(390)
Total			$	243,015	$	27,891	$	270,906	$	82,431	$	2,639


2020 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income (Loss)
ICON	10/13/2020	Asset	$	16,900	$	3,598	$	20,498	$	4,798	$	449
Other	Various	Asset	59,546		10,488		70,034		35,696		1,443
Total			$	76,446	$	14,086	$	90,532	$	40,494	$	1,892

The estimated fair values of the assets acquired and liabilities assumed for the acquisitions, as well as total purchase prices and cash paid, approximated the following (in thousands):


	2022
	CAS		ABS		Other		Total
Estimated fair values:
Cash	$	243	$	193	$	87	$	523
Accounts receivable	3,502		2,777		5,800		12,079
Inventories	13,784		853		2,456		17,093
Other current assets	576		485		71		1,132
Property and equipment	2,590		1,269		4,498		8,357
Operating lease right-of-use asset	844		—		66		910
Intangibles	34,900		12,800		17,365		65,065
Goodwill	27,594		10,546		11,154		49,294
Other non-current assets	—		—		56		56
Accounts payable and other current liabilities	(5,387)		(2,677)		(2,133)		(10,197)
Deferred income tax liabilities	—		(2,455)		—		(2,455)
Income tax payable	—		(229)		—		(229)

Other long-term liabilities	(569)		—		(22)		(591)
Fair value of assets acquired and purchase price	78,077		23,562		39,398		141,037
Less seller obligations	22,927		412		3,639		26,978
Cash paid	$	55,150	$	23,150	$	35,759	$	114,059


	2021
	IWI		Five Star		AMD		Other		Total
Estimated fair values:

Cash	$	168	$	1,472	$	—	$	67	$	1,707
Accounts receivable	5,122		4,583		8,393		13,584		31,682
Inventories	1,157		1,399		7,540		1,786		11,882
Other current assets	3,014		330		—		1,975		5,319
Property and equipment	796		1,161		1,133		4,124		7,214
Operating lease right of-use-asset	—		—		199		—		199
Intangibles	25,200		17,400		52,800		31,554		126,954
Goodwill	23,282		6,626		56,327		21,122		107,357
Other non-current assets	264		—		—		417		681
Accounts payable and other current liabilities	(8,416)		(1,170)		(184)		(6,809)		(16,579)
Deferred income tax liabilities	—		—		—		(2,089)		(2,089)
Other long-term liabilities	(2,530)		(27)		(87)		(777)		(3,421)
Fair value of assets acquired and purchase price	48,057		31,774		126,121		64,954		270,906
Less seller obligations	5,959		5,466		6,631		9,835		27,891
Cash paid	$	42,098	$	26,308	$	119,490	$	55,119	$	243,015


	2020
	ICON		Other		Total
Estimated fair values:

Accounts receivable	$	4,828	$	12,777	$	17,605
Inventories	243		2,518		2,761
Other current assets	675		779		1,454
Property and equipment	380		5,482		5,862
Intangibles	11,830		34,393		46,223
Goodwill	2,870		18,435		21,305
Other non-current assets	145		96		241
Accounts payable and other current liabilities	(445)		(4,196)		(4,641)

Other long-term liabilities	(28)		(250)		(278)
Fair value of assets acquired and purchase price	20,498		70,034		90,532
Less seller obligations	3,598		10,488		14,086
Cash paid	$	16,900	$	59,546	$	76,446

Contingent consideration is included as “seller obligations” in the above table or within “fair value of assets acquired” if subsequently paid during the period presented. These contingent payments consist primarily of earnouts based on performance that are recorded at fair value at the time of acquisition, and/or non-compete agreements and amounts based on working capital calculations. When these payments are expected to be made over one year from the acquisition date, the contingent consideration is discounted to net present value of future payments based on a weighted average of various future forecast scenarios.

Further adjustments to the allocation for each acquisition still under its measurement period are expected as third-party or internal valuations are finalized, certain tax aspects of the transaction are completed, contingent consideration is settled, and customary post-closing reviews are concluded during the measurement period attributable to each individual business combination. As a result, insignificant adjustments to the fair value of assets acquired, and in some cases total purchase price, have been made to certain business combinations since the date of acquisition and future adjustments may be made through the end of each measurement period.

The provisional amounts for one of our 2021 acquisitions originally reported in our Consolidated Balance Sheets included in our Annual Report on Form 10-K for the period ended December 31, 2021 were adjusted due to adjustments to pre-acquisition financial information and ongoing analysis of the fair value measurements. As a result of an independent appraisal, we increased goodwill by approximately $1.6 million and decreased intangibles by $(3.0) million. These adjustments were within applicable measurement period guidelines and did not effect earnings.

Goodwill and intangibles per the above table may not agree to the total gross increases of these assets as shown in Note 7, Goodwill and Intangibles, during the years ended December 31, 2022, 2021 and 2020 due to minor adjustments to goodwill for the allocation of certain acquisitions still under measurement as well as other immaterial intangible assets added during the ordinary course of business.


	2022			2021			2020
Acquired intangibles assets	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)
Customer relationships	$	45,236	12	$	95,173	12	$	28,307	8
Trademarks and trade names	16,794		15	23,149		15	9,834		15
Non-competition agreements	2,645		5	7,054		5	3,315		5
Backlog	390		1	1,578		1.5	4,767		1.5

The unaudited pro forma information has been prepared as if the 2022 acquisitions had taken place on January 1, 2021, the 2021 acquisitions had taken place on January 1, 2020 and the 2020 acquisitions had taken place on January 1, 2019. The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2021, 2020 and 2019 and the unaudited pro forma information does not purport to be indicative of future financial operating results (in thousands, except for per share data):


	December 31,
	2022		2021		2020
Net revenue	$	2,732,084	$	2,217,592	$	1,922,327
Net income	227,108		135,850		107,791
Basic net income per share	7.91		4.63		3.65
Diluted net income per share	7.87		4.59		3.63

Unaudited pro forma net income reflects additional intangible asset amortization expense of $2.5 million, $13.1 million and $18.2 million for the years ended December 31, 2022, 2021 and 2020, respectively, additional interest expense of $4.3 million for each of the years ended December 31, 2021 and 2020, respectively, as well as additional income tax expense of $1.2 million, $5.7 million and $3.7 million for the years ended December 31, 2022, 2021 and 2020, respectively.