Quarterly report pursuant to Section 13 or 15(d)

Business Combinations (Tables)

v3.21.2
Business Combinations (Tables)
 9 Months Ended
Sep. 30, 2021
Business Combinations [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 $ 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 
Business Acquisition, Pro Forma Information Unaudited pro forma net (loss) income adjusts the operating results of Vintage and GWH 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 name and transaction related costs.
Three Months Ended September 30, Nine Months Ended September 30,
2021 2020 2021 2020
(dollars in thousands)
Revenue $ 214,129  $ 259,345  $ 680,233  $ 565,588 
Pretax income (loss) 12,650  2,907  26,838  (32,136)
Provision (benefit) for income taxes 2,284  663  4,844  (8,177)
Net income (loss) $ 10,366  $ 2,244  $ 21,994  $ (23,959)