Acquisitions (Tables)

9 Months Ended

Sep. 30, 2021

Business Combinations [Abstract]

Schedule of Weighted Average Assumptions

The weighted-average assumptions used to calculate the estimated fair value of the earn-out under the option pricing method were as follows:

	February 28, 2021	September 30, 2021
Risk-free rate	0.1%	0.1%
Revenue discount rate	8.3%	8.3%
Revenue volatility	27.3%	19.7%

Schedule of Allocations of Purchase Price

Assets acquired and liabilities assumed as of the acquisition date are presented in the following table:

	Proficient Transport		J&P
	February 28, 2021		May 30, 2021
Tangible assets:
Accounts receivable	$	4,171	$	1,942
Prepaid expenses and other current assets	—		32
Property and equipment	140		934
Other assets	24		3
Total tangible assets	4,335		2,911
Intangible assets:
Customer relationships	6,060		1,580
Non-compete agreements	18		132
Goodwill	6,249		3,545
Total intangible assets	12,327		5,257
Total assets acquired	16,662		8,168
Liabilities assumed:
Current liabilities	323		625
Total liabilities assumed	323		625
Net assets acquired	$	16,339	$	7,543

Schedule of Acquired Finite-Lived Intangible Assets

The weighted-average useful life of acquired intangible assets as of the acquisition date are summarized in the following table:

	Weighted-Average Useful Lives
	Proficient Transport	J&P
Customer relationships	8 years	12 years
Non-compete agreements	1 year	5 years