Annual report pursuant to Section 13 and 15(d)

Acquisition (Tables)

v3.19.3.a.u2
Acquisition (Tables)
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Purchase Price Allocation
The following table sets forth the calculation and allocation of the purchase price to the identifiable net assets acquired with respect to the Acquisition, which was complete as of March 31, 2018:
 
 
Provisional Purchase
Price Allocation
 
Adjustments
 
Purchase
Price Allocation
Total consideration, net of cash acquired
 
$
41,572

 
$
—

 
$
41,572

 
 
 
 
 
 
 
Recognized amounts of identifiable assets acquired and liabilities assumed:
 
 
 
 
 
 
Receivables
 
$
14,305

 
$
—

 
$
14,305

Inventories
 
7,645

 
1,603

 
9,248

Prepaid and other current assets
 
400

 
—

 
400

Property, plant and equipment
 
9,020

 
15,960

 
24,980

Other intangible assets
 
—

 
5,753

 
5,753

Other long-term assets
 
129

 
15,921

 
16,050

Fair value of assets acquired
 
31,499

 
39,237

 
70,736

 
 
 
 
 
 
 
Current debt
 
(6,420
)
 
—

 
(6,420
)
Accounts payable
 
(10,748
)
 
—

 
(10,748
)
Long-term debt
 
(10,189
)
 
—

 
(10,189
)
Deferred income taxes
 
—

 
(4,426
)
 
(4,426
)
Other long-term liabilities
 
(154
)
 
—

 
(154
)
 
 
 
 
 
 
 
Fair value of net assets acquired
 
3,988

 
34,811

 
38,799

Goodwill
 
37,584

 
(34,811
)
 
2,773

 
 
 
 
 
 
 
 
 
$
41,572

 
$
—

 
$
41,572

 
 
 
 
 
 
 

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The valuation of the intangible assets acquired and the related weighted-average amortization periods are as follows:
 
 
Amount
 
Weighted-Average
Expected Useful Life
(in years)
Intangible assets subject to amortization:
 
 
 
 
Trademarks
 
$
1,767

 
11
Technical know-how
 
1,892

 
11
Total intangible assets subject to amortization
 
3,659

 
 
Trade names, not subject to amortization
 
2,094

 
Indefinite
Total
 
$
5,753

 
 
 
 
 
 
 

Business Acquisition, Pro Forma Information
 
 
Year ended
December 31, 2017
Pro forma sales
 
$
1,488,528

Pro forma net income
 
58,774

Pro forma net income attributable to PQ Group Holdings Inc.
 
57,814

Pro forma basic income per share
 
$
0.52

Pro forma diluted income per share
 
$
0.52