Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of Allocation of Purchase Price

The following table summarizes the allocation of the purchase price to the fair value of the assets and liabilities acquired:

(in thousands)	November 20, 2019
Assets acquired
Cash	$	1,607
Accounts receivable	986
Contract assets	1,992
Inventories	525
Prepaid expenses and other current assets	452
Right of use assets related to finance lease	5,686
Property, plant and equipment	4,884
Amortizable intangible assets (see Note 15)	10,302
Goodwill	17,676
Total assets acquired	$	44,110
Liabilities assumed
Accounts payable	$	65
Accrued liabilities	2,777
Lease liabilities	502
Deferred income taxes	3,182
Other noncurrent liabilities	5,184
Total liabilities assumed	$	11,710
Net assets acquired	$	32,400
Purchase of business, net of cash acquired	$	30,793

Summary of Operational Results

The following table presents operational results of the acquired entity that are included in the Consolidated Statements of Income (unaudited):

(in thousands, except per share amounts)	November 20 to December 31, 2019
Net sales	$	485
Operating loss	(162)
Loss before income taxes	(199)
Net loss attributable to the Company	(324)
Loss per share:
Basic	$	(0.01)
Diluted	$	(0.01)