Acquisitions (Tables)

6 Months Ended

Jun. 30, 2021

Unaudited Pro Forma Condensed Financial Information

The following table summarizes the unaudited pro forma condensed financial information of the Company as if the Mergers had occurred on January 1, 2020.

	Three Months Ended					Six Months Ended
	June 30, 2021		June 30, 2020			June 30, 2021			June 30, 2020
Revenue	$	239,554	$	188,149		$	474,990		$	342,274
Net income (loss)		4,438		(150,337	)		(48,746	)		(297,267	)
Net income (loss) attributable to stockholders		3,904		(125,983	)		(46,146	)		(226,343	)

Hygo Merger [Member]

Business Acquisition [Line Items]

Value Consideration Paid

Based on the closing price of NFE’s common stock on April 15, 2021, the total value of consideration in the Hygo Merger was $1.98 billion, shown as follows:

Consideration			As of April 15, 2021
Cash consideration for Hygo Preferred Shares	$	180,000
Cash consideration for Hygo Common Shares		400,000
Total Cash Consideration			$	580,000
Merger consideration to be paid in shares of NFE Common Stock		1,400,784
Total Non-Cash Consideration				1,400,784
Total Consideration			$	1,980,784

Fair Values Assigned to Assets Acquired, Liabilities Assumed and Non-Controlling Interests

The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. The Company is in the process of finalizing the valuation of assets acquired, liabilities assumed and non-controlling interests of Hygo, and therefore the purchase price allocation should be considered preliminary. The preliminary purchase price allocation may be subject to further refinement as the evaluation of the underlying inputs and assumptions of third-party valuations and the assessment of acquisition-related income taxes are finalized. The goodwill balance may be adjusted pending the completion of the valuation of the assets acquired, liabilities assumed and non-controlling interests of Hygo as described above. The preliminary estimates may be subject to adjustments during the measurement period, not to exceed one year, based upon new information obtained about facts and circumstances that existed as of the acquisition date. To the extent that significant changes occur in the future, the Company will disclose such changes in the reporting period in which they occur. Preliminary fair values assigned to the assets acquired, liabilities assumed and non-controlling interests of Hygo as of the closing date were as follows:

Hygo	As of April 15, 2021
Assets Acquired
Cash and cash equivalents	$	26,641
Restricted cash		48,183
Accounts receivable		5,126
Inventory		1,022
Other current assets		8,095
Assets under development		128,625
Property, plant and equipment, net		385,389
Intangible assets, net		44,702
Equity method investments		805,391
Finance leases, net		601,000
Deferred tax assets, net		1,065
Other non-current assets		52,996
Total assets acquired:	$	2,108,235
Liabilities Assumed
Current portion of long-term debt	$	38,712
Accounts payable		3,059
Accrued liabilities		39,149
Other current liabilities		13,495
Long-term debt		455,165
Deferred tax liabilities, net		241,177
Other non-current liabilities		21,520
Total liabilities assumed:		812,277
Non-controlling interest		62,111
Net assets acquired:		1,233,847
Goodwill	$	746,937

GMLP Merger [Member]

Business Acquisition [Line Items]

Value Consideration Paid

The consideration paid by the Company in the GMLP Merger was as follows:

Consideration				As of April 15, 2021
GMLP Common Units ($3.55 per unit x 69,301,636 units)	$	246,021
GMLP General Partner Interest ($3.55 per unit x 1,436,391 units)		5,099
Partnership Phantom Units ($3.55 per unit x 58,960 units)		209
Cash Consideration				$	251,329
GMLP debt repaid in acquisition		899,792
Total Cash Consideration					1,151,121
Cash settlement of preexisting relationship		(3,978	)
Total Consideration				$	1,147,143

Fair Values Assigned to Assets Acquired, Liabilities Assumed and Non-Controlling Interests

The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. The Company is in the process of finalizing the valuation of assets acquired, liabilities assumed and non-controlling interests of GMLP, and therefore the purchase price allocation should be considered preliminary. The preliminary purchase price allocation may be subject to further refinement as the evaluation of the underlying inputs and assumptions of third-party valuations and the assessment of acquisition-related income taxes are finalized. The goodwill balance may be adjusted pending the completion of the valuation of the assets acquired, liabilities assumed and non-controlling interests of GMLP as described above. The preliminary estimates may be subject to adjustments during the measurement period, not to exceed one year, based upon new information obtained about facts and circumstances that existed as of the acquisition date. To the extent that significant changes occur in the future, the Company will disclose such changes in the reporting period in which they occur. Preliminary fair values assigned to the assets acquired, liabilities assumed and non-controlling interests of GMLP as of the closing date were as follows:

GMLP	As of April 15, 2021
Assets Acquired
Cash and cash equivalents	$	41,461
Restricted cash		24,816
Accounts receivable		3,195
Inventory		2,151
Other current assets		2,789
Equity method investments		356,000
Property, plant and equipment, net		1,063,215
Intangible assets, net		120,000
Deferred tax assets, net		963
Other non-current assets		4,400
Total assets acquired:	$	1,618,990
Liabilities Assumed
Current portion of long-term debt	$	185,681
Accounts payable		3,019
Accrued liabilities		17,226
Other current liabilities		73,774
Deferred tax liabilities, net		16,008
Other non-current liabilities		10,630
Total liabilities assumed:		306,338
Non-controlling interest		167,174
Net assets to be acquired:		1,145,478
Goodwill	$	1,665