Business Combinations (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of recognized identified assets acquired and liabilities assumed

The following table presents the fair value of assets acquired and liabilities assumed in accordance with ASC 805 (in millions):



Cash	$	1.0
Accounts receivable	4.6
Inventory	2.4
Prepaid and other current assets	0.1
Operating leases, right-of-use asset	1.1
Property and equipment	18.4
Total assets acquired	27.6
Accounts payable	5.4
Accrued expenses	1.0
Operating lease right-of-use obligation	1.1
Total liabilities assumed	7.5
Allocated purchase price	$	20.1

The following table presents the fair value of assets acquired and liabilities assumed in accordance with ASC 805 (in millions):


Property and equipment	$	93.5
Total assets acquired	93.5
Finance lease obligations	3.9
Bargain purchase deferred tax liability	11.7
Total liabilities assumed	15.6
Net assets acquired	77.9
Bargain purchase	40.8
Purchase price	$	37.1

Business acquisition, pro forma information

The following unaudited pro-forma financial results considers that the PerfX Acquisition occurred as of January 1, 2021 (in millions):


	Nine Months Ended September 30, 2021
Revenue	$	224.9
Operating loss	$	(27.2)
Net loss	$	(30.1)
Basic and diluted loss per share	$	(1.90)

The following unaudited pro-forma financial results considers that the Basic Acquisition occurred as of January 1, 2021 (in millions, except per share amounts):


	Nine Months Ended September 30, 2021
Revenue	$	300.1
Operating loss	$	(24.6)
Net income (loss)	$	(27.3)
Basic earnings (loss) per share	$	(1.68)
Diluted earnings (loss) per share	$	(1.68)