Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

The

following table summarizes the consideration paid at closing for all acquisitions during the year ended December 31, 2023 (in thousands):


Cash	$	19,943
Deferred payments	137
Total	$	20,080

The following table summarizes the consideration paid at closing for all acquisitions during the year ended December 31, 2022 (in thousands):


Cash	$	17,170
Deferred payments	457
Total	$	17,627

The following table summarizes the consideration paid for all acquisitions during the year ended December 31, 2021 (in thousands):


	AeroCare		Spiro		Healthy Living		Agilis		We Care		Community		Other		Total
Cash	$	1,153,409	$	65,759	$	47,048	$	30,828	$	34,834	$	129,423	$	196,669	$	1,657,970
Equity	1,220,342		7,109		5,057		14,668		6,321		—		7,703		1,261,200
Contingent consideration	—		1,000		—		1,000		—		5,800		—		7,800
Deferred payments	—		—		—		—		—		—		4,478		4,478
Total	$	2,373,751	$	73,868	$	52,105	$	46,496	$	41,155	$	135,223	$	208,850	$	2,931,448

Summary of estimated fair values of the net assets acquired

Based upon management’s evaluation, which is preliminary and subject to completion of working capital and other adjustments, the consideration paid for all acquisitions during the year ended December 31, 2023 was allocated as follows during the period (in thousands):


Cash	$	256
Accounts receivable	1,264
Inventory	1,483
Prepaid and other current assets	10
Equipment and other fixed assets	9,011
Operating lease right-of-use assets	5,506
Finance lease right-of-use assets	200
Goodwill	9,616
Accounts payable and accrued expenses	(713)
Operating lease liabilities	(5,506)
Finance lease liabilities	(200)
Other current liabilities	(847)
Net assets acquired	$	20,080

Based upon management’s evaluation, the consideration paid for all acquisitions during 2022 was allocated as follows (in thousands):


Cash	$	162
Accounts receivable	2,336
Inventory	771
Prepaid and other current assets	16
Equipment and other fixed assets	4,585
Goodwill	12,341
Identifiable intangible assets	500
Deferred tax assets	180
Accounts payable and accrued expenses	(3,130)
Contract liabilities	(134)
Net assets acquired	$	17,627

Based upon management’s evaluation, the consideration paid for all acquisitions during 2021 was allocated as follows during the year ended December 31, 2021 (in thousands):


	AeroCare		Spiro		Healthy Living		Agilis		We Care		Community		Other		Total
Cash	$	27,686	$	2,132	$	579	$	1,131	$	458	$	2	$	5,005	$	36,993
Accounts receivable	71,916		$	5,756	5,838		—		2,007		15,798		25,587		126,902
Inventory	26,998		1,733		2,949		2,330		465		5,214		10,663		50,352
Prepaid and other current assets	3,522		152		1,088		—		—		571		2,403		7,736
Equipment and other fixed assets	190,755		6,897		1,188		348		5,254		44,952		24,963		274,357
Operating lease right-of-use assets	52,927		2,581		1,366		490		970		4,412		15,897		78,643
Goodwill	2,083,423		64,380		44,095		55,375		35,971		88,393		164,929		2,536,566
Identifiable intangible assets	122,800		1,000		1,500		500		400		2,300		4,400		132,900
Other assets	1,178		16		—		—		—		2,505		—		3,699
Deferred tax liabilities	(46,234)		—		—		—		(1,228)		—		(308)		(47,770)
Accounts payable and accrued expenses	(82,722)		(5,517)		(3,363)		(3,188)		(1,389)		(13,725)		(21,679)		(131,583)
Contract liabilities	(14,495)		(486)		(102)		—		(783)		(3,156)		(608)		(19,630)
Other current liabilities	(10,021)		—		(1,667)		—		—		(180)		(1,833)		(13,701)
Other long-term liabilities	(1,055)		—		—		—		—		(2,683)		—		(3,738)
Operating lease obligations	(52,927)		(2,581)		(1,366)		(490)		(970)		(4,412)		(15,897)		(78,643)
Finance lease obligations	—		(2,195)		—		—		—		(4,768)		(4,672)		(11,635)
Net assets acquired	$	2,373,751	$	73,868	$	52,105	$	56,496	$	41,155	$	135,223	$	208,850	$	2,941,448

Summary of results of business acquired

Results of Businesses Acquired

The following table presents the amount of Net revenue and Operating income in the period of acquisition since the respective acquisition dates for the acquisitions described above that is included in the Company’s consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021:


(in thousands)	Year Ended December 31,
	2023		2022		2021
Net revenue	$	7,246	$	16,455	$	1,005,097
Operating income	$	745	$	767	$	136,404