Acquisitions (Tables)

6 Months Ended

Jun. 30, 2022

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Preliminary Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the preliminary purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	9,025
Accounts receivable		28,199
Contract assets		8,217
Prepaid expenses and other current assets		3,614
Property and equipment		1,699
Right of use assets, operating leases		3,575
Goodwill		260,760
Investments in and advances to unconsolidated joint ventures		698
Intangible assets		116,100
Other noncurrent assets		9,156
Accounts payable		(6,626	)
Accrued expenses and other current liabilities		(31,309	)
Contract liabilities		(2,080	)
Short-term lease liabilities, operating leases		(1,979	)
Long-term lease liabilities, operating leases		(1,596	)
Other long-term liabilities		(9,156	)
Net assets acquired	$	388,297

Schedule of Preliminary Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were preliminarily assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	59,200	14
Backlog		48,300	3
Developed technologies		4,300	4
Non-compete agreements		2,200	3
Other		2,100	2

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the Xator acquisition had been consummated as of the beginning of fiscal year 2021 (in thousands) is as follows:

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Pro forma Revenue	$	1,048,894	$	960,253	$	2,064,966	$	1,893,503
Pro forma Net Income including noncontrolling interests		30,199		16,376	$	56,106	$	20,071

BlackHorse Solutions, Inc.

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed on Preliminary Purchase Price Allocation

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed based on the purchase price allocation as of the date of acquisition (in thousands):

	Amount
Cash and cash equivalents	$	15,428
Accounts receivable		3,351
Contract assets		5,979
Prepaid expenses and other current assets		937
Property and equipment		2,239
Right of use assets, operating leases		6,157
Goodwill		143,086
Intangible assets		65,000
Accounts payable		(2,326	)
Accrued expenses and other current liabilities		(17,190	)
Contract liabilities		(320	)
Short-term lease liabilities, operating leases		(1,011	)
Long-term lease liabilities, operating leases		(5,146	)
Deferred tax liabilities		(10,916	)
Other long-term liabilities		(235	)
Net assets acquired	$	205,033

Schedule of Preliminary Intangible Assets Value on Purchase Price

Of the total purchase price, the following values were assigned to intangible assets (in thousands, except for years):

	Gross Carrying Amount		Amortization Period
			(in years)
Customer relationships	$	39,000	16
Backlog		23,000	3
Trade name		1,000	2
Developed technologies		1,000	3
Non-compete agreements		1,000	3

Schedule of Supplemental Pro Forma Information

Supplemental information of unaudited pro forma operating results assuming the BlackHorse acquisition had been consummated as of the beginning of fiscal year 2020 (in thousands) is as follows:

	Three Months Ended				Six Months Ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Pro forma Revenue	$	1,008,721	$	899,659	$	1,957,790	$	1,791,061
Pro forma Net Income including noncontrolling interests		24,651		12,116		50,533	$	25,624