Business Acquisition (Tables) - Oakdale-Hampton Homes

3 Months Ended

Mar. 31, 2018

Business Acquisitions

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the calculation of the fair value of the total consideration transferred to Oakdale-Hampton Homes and its preliminary allocation to the assets acquired and liabilities assumed as of the acquisition date (in thousands):

Fair value of consideration transferred:
Cash paid for net assets	$	42,199
Contingent consideration (earn-out)		2,418
Total consideration transferred	$	44,617
Assets acquired and liabilities assumed:
Assets
Receivables and other assets	$	495
Land and other inventories		35,053
Property and equipment		798
Trade name		560
Goodwill		8,613
Total assets acquired		45,519
Liabilities
Accounts payable		749
Accrued and other liabilities		84
Customer deposits		69
Total liabilities assumed		902
Total net assets acquired	$	44,617

Pro Forma Operating Results

The following represents pro forma operating results as if Oakdale-Hampton Homes had been included in our consolidated statements of operations as of the beginning of the fiscal year presented (in thousands, except per share data):

	Three Months Ended
	March 31, 2017
Revenue	$	162,298
Net income		2,971
Basic earnings per share		0.13
Diluted earnings per share		0.13