Acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

The fair value of the purchase price and preliminary allocation of the purchase price is as follows (in thousands):



Cash	$	2,500
Less working capital adjustments	(74		)
Fair value of Ashford Inc. common stock issued	4,547
Purchase price consideration	$	6,973

The fair value of the purchase price and final allocation of the purchase price is as follows (in thousands):



Term loan	$	5,000
Less working capital adjustments	(733		)
Fair value of Ashford Inc. common stock issued	3,748
Consideration payable	500
Fair value of contingent consideration	1,384
Purchase price consideration	$	9,899

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed



	Fair Value		Estimated Useful Life
Current assets	$	754
FF&E	1,983		5 years
Operating lease right-of-use assets	165
Goodwill	4,827
Trademarks	440
Customer relationships	2,800		15 years
Total assets acquired	10,969
Current liabilities	639
Noncurrent liabilities	431
Total assumed liabilities	1,070
Net assets acquired	$	9,899



	Fair Value		Estimated Useful Life
Current assets	$	76
Marine vessels	2,220		20 years
FF&E	1,530		20 years
Operating lease right-of-use assets	391
Goodwill	1,235
Trademarks	490
Boat slip rights	3,100		20 years
Total assets acquired	9,042
Current liabilities	291
Noncurrent liabilities	1,778
Total assumed liabilities	2,069
Net assets acquired	$	6,973

Pro Forma Information

The following table reflects the unaudited pro forma results of operations as if the Remington, Sebago and BAV acquisitions had occurred and the indebtedness associated with those acquisitions was incurred on January 1, 2019, and the removal of $406,000 and $750,000 of transaction costs directly attributable to the acquisitions for the three months ended March 31, 2020 and 2019 (in thousands):



	Three Months Ended March 31,
	2020			2019
Total revenue	$	133,842		$	146,790
Net income (loss)	(177,834		)	1,085
Net income (loss) attributable to common stockholders	(185,919		)	(7,639		)