Annual report [Section 13 and 15(d), not S-K Item 405]

Business Combinations and Asset Acquisitions (Tables)

v3.25.0.1
Business Combinations and Asset Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following is a summary of the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands).
Assets Acquired
Cash $ 4,760 
Real estate inventories 154,004 
Goodwill 86,958 
Trade name 1,950 
Other assets 4,539 
Total assets $ 252,211 
 
Liabilities Assumed
Accounts payable $ 2,472 
Accrued expenses 9,936 
Total liabilities 12,408 
Net assets acquired $ 239,803 
The following is a summary of the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands).
Assets Acquired
Cash $ 3,857 
Real estate inventories 232,071 
Goodwill 44,182 
Trade name 1,590 
Other assets 378 
Total assets $ 282,078 
 
Liabilities Assumed
Accounts payable $ 6,329 
Accrued expenses 13,165 
Total liabilities 19,494 
Net assets acquired $ 262,584 
Business Acquisition, Pro Forma Information Unaudited pro forma net income adjusts the operating results of the stated acquisitions to reflect the additional costs that would have been recorded assuming the fair value adjustments had been applied as of the beginning of the year preceding the year of acquisition, including the tax-effected amortization of the acquired trade names and transaction related costs.
Year Ended December 31,
2024 2023 2022
Revenue $ 1,592,993  $ 1,381,089  $ 1,451,558 
Pretax income 47,133  41,782  151,846 
Provision for income taxes (14,043) (11,157) (38,163)
Net income $ 33,090  $ 30,625  $ 113,683