| Business Acquisition Purchase Price Allocation Assets Acquired and Liabilities Assumed |
This allocation requires a significant use of
estimates and is based on information that was available to
management at the time these consolidated financial statements were
prepared (in thousands).
|
|
|
|
|
|
|
|
|
| |
|
2014 |
|
|
2013 |
|
|
Consideration:
|
|
|
|
|
|
|
|
|
|
Value of Quanta common stock and exchangeable shares issued
|
|
$ |
38,641 |
|
|
$ |
88,895 |
|
|
Cash paid
|
|
|
83,242 |
|
|
|
341,064 |
|
|
|
|
|
|
|
|
|
|
|
Fair value of total consideration transferred
|
|
$ |
121,883 |
|
|
$ |
429,959 |
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
53,174 |
|
|
$ |
193,895 |
|
|
Property and equipment
|
|
|
33,445 |
|
|
|
60,988 |
|
|
Other assets
|
|
|
3,374 |
|
|
|
1,009 |
|
|
Identifiable intangible assets
|
|
|
22,368 |
|
|
|
55,124 |
|
|
Current liabilities
|
|
|
(41,283 |
) |
|
|
(127,430 |
) |
|
Deferred tax liabilities, net
|
|
|
(3,604 |
) |
|
|
(4,083 |
) |
|
Other long-term liabilities
|
|
|
(3,935 |
) |
|
|
(5,350 |
) |
|
|
|
|
|
|
|
|
|
|
Total identifiable net assets
|
|
|
63,539 |
|
|
|
174,153 |
|
|
Goodwill
|
|
|
58,344 |
|
|
|
255,806 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
121,883 |
|
|
$ |
429,959 |
|
|
|
|
|
|
|
|
|
|
|
| Unaudited Supplemental Pro Forma Results of Operations |
Future results may vary significantly from the results reflected in
the following pro forma financial information because of future
events and transactions, as well as other factors (in thousands,
except per share amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30,
|
|
| |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
|
Revenues
|
|
$ |
1,864,550 |
|
|
$ |
1,672,112 |
|
|
$ |
3,632,181 |
|
|
$ |
3,458,655 |
|
|
Gross profit
|
|
$ |
281,448 |
|
|
$ |
280,479 |
|
|
$ |
553,452 |
|
|
$ |
558,385 |
|
|
Selling, general and administrative expenses
|
|
$ |
139,440 |
|
|
$ |
133,381 |
|
|
$ |
313,994 |
|
|
$ |
261,588 |
|
|
Amortization of intangible assets
|
|
$ |
8,615 |
|
|
$ |
8,175 |
|
|
$ |
16,969 |
|
|
$ |
17,456 |
|
|
Net income
|
|
$ |
85,444 |
|
|
$ |
88,151 |
|
|
$ |
143,127 |
|
|
$ |
178,094 |
|
|
Net income attributable to common stock
|
|
$ |
81,082 |
|
|
$ |
83,662 |
|
|
$ |
134,525 |
|
|
$ |
168,829 |
|
|
|
|
|
|
|
Earnings per share attributable to common stock — basic and
diluted
|
|
$ |
0.37 |
|
|
$ |
0.38 |
|
|
$ |
0.61 |
|
|
$ |
0.77 |
|
|