Business Combinations (Notes)

9 Months Ended

Sep. 26, 2020

Our investments in businesses during the first nine months of 2020 were $5,240, including liabilities assumed of $380 and debt issued, in the form of notes payable to the sellers, of $1,034, and have been included in our Residential and Commercial segment. Measurement-period adjustments are not complete. The measurement period for purchase price allocations ends as soon as information of the facts and circumstances becomes available, but does not exceed one year from the acquisition date. During the nine months ended September 28, 2019, our investment in businesses was $5,527, including liabilities assumed of $402 and debt issued, in the form of notes payable to the sellers, of $1,322.

The following table summarizes the preliminary purchase price allocation of the estimated fair values of the assets acquired and liabilities assumed:


	September 26, 2020		December 31, 2019
Detail of acquisitions:
Assets acquired:
Cash	$	—	$	3
Receivables	—		2,332
Operating supplies	23		84
Prepaid expense	—		27
Equipment	623		1,837
Deposits and other	—		96
Intangibles	2,018		4,067
Goodwill	2,576		4,174
Liabilities assumed	(380)		(1,479)
Debt issued for purchases of businesses	(1,034)		(2,612)
Cash paid	$	3,826	$	8,529

The results of operations of acquired businesses have been included in the condensed consolidated statements of operations beginning as of the effective dates of acquisition. The effect of these acquisitions on our consolidated revenues and results of operations for the period ended September 26, 2020 was not significant. Pro forma net sales and results of operations for the acquisitions, had they occurred at the beginning of the nine months ended September 26, 2020, are not material and, accordingly, are not provided.

The acquired intangible assets consist of tradenames, non-competition agreements and customer relationships. The tradenames and customer relationships were assigned an average useful life of six years and the non-competition agreements were assigned an average useful life of five years.