Business Acquisition (Tables)

3 Months Ended

Mar. 31, 2020

The following table summarizes the provisional 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	2,269
Inventories	525
Prepaid expenses and other current assets	452
Right of use assets	5,686
Property, plant and equipment	4,884
Amortizable intangible assets	10,302
Goodwill	17,114
Total assets acquired	$43,825

Liabilities assumed
Accounts payable	$65
Accrued liabilities	2,249
Lease liabilities	502
Deferred income taxes	3,425
Other noncurrent liabilities	5,184
Total liabilities assumed	$11,425

Net assets acquired	$32,400
Purchase of business, net of cash acquired	$30,793