Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.20.4
Acquisitions (Tables)
12 Months Ended
Dec. 31, 2020
Acquisitions [Abstract]  
Consolidated Net Assets And Results Of Operations



 

 

 



 

October 22, 2020



 

to December 31, 2020

Trade sales

 

$

12,393 

Income before income taxes

 

$

722 



Summary Of Fair Value Of The Assets Acquired And Liabilities Assumed





 

 

 



 

 

 

Cash

 

$

557 

Trade accounts receivable

 

 

10,278 

Trade inventory

 

 

11,970 

Property and equipment

 

 

819 

Identifiable intangible assets (1)

 

 

19,680 

Operating lease asset

 

 

2,213 

Other assets

 

 

651 

Total assets acquired

 

 

46,168 

Accounts payable

 

 

(5,619)

Other liabilities

 

 

(3,524)

Operating lease liability

 

 

(2,213)

Total liabilities assumed

 

 

(11,356)

Fair value of identifiable net assets

 

 

34,812 

Goodwill

 

 

8,277 

Purchase consideration

 

 

43,089 

Less: cash acquired

 

 

(557)

Less: consideration payable

 

 

(399)

Cash paid for acquisition less cash acquired

 

$

42,133 



 

 

 

Acquisition-related costs included in selling, general and administrative expenses

 

$

441 



(1)

Identifiable intangible assets were comprised of $3.7 million, $15.8 million and $0.2 million associated with Colonial Elegance’s trademark, customer relationships, and noncompetition agreements, respectively. The identifiable intangible assets are amortized over their expected useful lives of 5 years for noncompetition agreements and 13 years for trademarks and customer relationships.

Pro Forma Information





 

 

 

 

 

 

 

 

 

 

 

 



 

Pro Forma

 

Actual



 

For the Years Ended December 31,

 

For the Years Ended December 31,



 

2020

 

2019

 

2020

 

 

2019

Trade sales

 

$

188,146 

 

 

226,033 

 

 

147,210 

 

 

180,319 

(Loss) income from continuing operations before income taxes

 

$

(55,619)

 

 

29,333 

 

 

(57,947)

 

 

28,985 

(Loss) income from continuing operations 

 

$

(45,035)

 

 

21,000 

 

 

(46,703)

 

 

20,651 

Net (loss) income attributable to shareholders

 

$

(40,306)

 

 

14,086 

 

 

(41,974)

 

 

13,737