Annual report pursuant to Section 13 and 15(d)

Acquisitions (Tables)

v3.22.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Fair Value of the Assets Acquired and Liabilities Assumed
The table below summarizes the preliminary estimates of fair value of identifiable assets acquired and liabilities assumed in the Acquisition. These preliminary estimates of the fair value are subject to revisions, which may result in an adjustment to the preliminary values presented below.
(in thousands) October 22, 2021
Cash and cash equivalents $ 1,533 
Accounts receivable, net of allowance for credit losses 5,358 
Inventories 1,561 
Prepaid expenses and other current assets 454 
Property, plant and equipment 15,697 
Right of use asset, operating leases 208 
Intangible assets 5,750 
Total identifiable assets acquired 30,561 
Accounts payable 1,751 
Accrued expenses and other current liabilities 1,622 
Current portion of operating lease liabilities 51 
Current portion of finance lease liabilities 215 
Deferred income taxes 2,542 
Long-term portion of operating lease liabilities 157 
Long-term portion of finance lease liabilities 1,408 
Total identifiable liabilities assumed 7,746 
Net identifiable assets acquired 22,815 
Transaction price 34,097 
Goodwill $ 11,282 
Schedule of Business Acquisitions, by Acquisition
Total net sales and operating income for DanChem for the period from October 22, 2021 through December 31, 2021 were as follows:

(in thousands) Period from
10/22/2021 - 12/31/2021
Net sales $ 5,692 
Operating income $ 621 
Schedule of Unaudited Pro Forma Financial Information
The following unaudited consolidated pro forma summary has been prepared by adjusting the Company's historical data to give effect to the acquisition of DanChem as if it had occurred on January 1, 2020:
(unaudited) Year Ended December 31,
(in thousands, except per share data) 2021 2020
Net sales $ 358,735  $ 282,365 
Net income (loss) 21,681  (26,468)
Basic net income (loss) per common share 2.32  (2.90)
Diluted net income (loss) per common share $ 2.29  $ (2.90)