BBX Capital, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

Acquisition (Tables)

9 Months Ended

Sep. 30, 2021

Summary Of Summary Of Purchase Price allocation



Cash	$	557
Trade accounts receivable		10,244
Trade inventory		12,133
Property and equipment		1,007
Identifiable intangible assets⁽¹⁾		21,795
Operating lease asset ⁽²⁾		3,919
Other assets		650
Total assets acquired		50,305
Accounts payable		(5,619)
Other liabilities		(3,524)
Operating lease liability		(2,213)
Total liabilities assumed		(11,356)
Fair value of identifiable net assets		38,949
Goodwill		4,140
Purchase consideration		43,089
Less: cash acquired		(557)
Less: consideration payable		(194)
Cash paid for acquisition less cash acquired	$	42,338

(1)Identifiable intangible assets were comprised of $2.9 million, $18.7 million, and $0.2 million associated with Colonial Elegance’s trademark, customer relationships, and noncompetition agreements, respectively. The identifiable intangible assets are being amortized over their expected useful lives of 5 years for noncompetition agreements and 13 years for trademarks and customer relationships.

(2)Includes an intangible asset of $1.7 million related to below market rents associated with the lease for a distribution facility that is expected to be recognized over the lease term of approximately seven years.