Quarterly report pursuant to Section 13 or 15(d)

Acquisition (Tables)

v3.20.2
Acquisition (Tables)
9 Months Ended
Sep. 30, 2020
Business Combinations [Abstract]  
Summary of Allocation of Total Consideration

The allocation of the total consideration has been recorded as follows (in thousands):

 

Cash

 

$

1,061

 

Accounts receivable

 

 

31,763

 

Inventory (1)

 

 

47,890

 

VAT receivable

 

 

12,658

 

Deferred tax assets

 

 

2,180

 

Property, plant, and equipment

 

 

12,531

 

Reacquired rights intangible assets (2)

 

 

46,100

 

Customer relationships intangible assets (2)

 

 

3,000

 

Goodwill

 

 

91,563

 

  Total assets acquired

 

 

248,746

 

 

 

 

 

 

Accounts payable

 

 

25,454

 

VAT payable

 

 

4,721

 

Deferred tax liability

 

 

17,129

 

  Total liabilities assumed

 

 

47,304

 

 

 

 

 

 

Non-controlling interest

 

 

79,798

 

Total purchase price

 

$

121,644

 

 

(1)

Included a step-up to fair market adjustment of $8.0 million, which was amortized over a period of less than 12 months.

(2)

Reacquired rights will be amortized over 1 to 7 years, and customer relationships will be amortized over 10 years.