| 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 |
$ |
10,063 |
|
| Real estate inventories |
93,699 |
|
| Goodwill |
3,752 |
|
| Trade name |
1,550 |
|
| Other assets |
3,956 |
|
| Total assets |
$ |
113,020 |
|
|
|
| Liabilities Assumed |
|
| Accounts payable |
$ |
1,641 |
|
| Accrued expenses |
24,660 |
|
|
|
| Notes payable |
32,119 |
|
| Total liabilities |
58,420 |
|
| Net assets acquired |
$ |
54,600 |
|
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 |
$ |
2,905 |
|
| Real estate inventories |
119,466 |
|
| Goodwill |
15,392 |
|
| Trade name |
1,600 |
|
| Other assets |
532 |
|
| Total assets |
$ |
139,895 |
|
|
|
| Liabilities Assumed |
|
| Accounts payable |
$ |
5,425 |
|
| Accrued expenses |
1,037 |
|
| Total liabilities |
6,462 |
|
| Net assets acquired |
$ |
133,433 |
|
the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed (dollars in thousands).
|
|
|
|
|
|
| Assets |
|
| Cash |
$ |
2,208 |
|
| Real estate inventories |
39,584 |
|
| Goodwill |
5,315 |
|
| Other assets |
60 |
|
| Total assets |
$ |
47,167 |
|
|
|
| Liabilities |
|
| Accounts payable |
$ |
2,626 |
|
| Notes payable |
16,228 |
|
| Accrued expenses and other liabilities |
2,543 |
|
| Total liabilities |
21,397 |
|
| Net assets acquired |
$ |
25,770 |
|
|
| Business Acquisition, Pro Forma Information |
|
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|
|
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|
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|
Year Ended December 31, |
|
2021 |
|
2020 |
|
2019 |
|
(dollars in thousands) |
| Revenue |
$ |
1,078,715 |
|
|
$ |
894,177 |
|
|
$ |
799,559 |
|
|
|
|
|
|
|
| Pretax income (loss) |
$ |
76,747 |
|
|
$ |
(19,183) |
|
|
$ |
35,336 |
|
| (Provision) benefit for income taxes |
(16,095) |
|
|
4,858 |
|
|
(7,625) |
|
| Net income (loss) |
$ |
60,652 |
|
|
$ |
(14,325) |
|
|
$ |
27,711 |
|
|