v3.25.2
Parker Acquisition (Tables)
6 Months Ended
Jun. 30, 2025
Parker Acquisition  
Schedule of fair value of assets acquired and liabilities assumed

The table below presents the allocation of the estimated fair value of identifiable assets acquired and liabilities assumed, and the resulting gain on bargain purchase as of the closing date:

    

Fair Value

 

(In thousands)

at Acquisition

 

Assets:

Cash and cash equivalents

$

84,995

Accounts receivable

 

132,084

Inventory

 

4,576

Other current assets

 

37,664

Property, plant and equipment

 

264,500

Deferred income taxes

 

66,828

Other assets

 

43,910

Total assets acquired

634,557

Liabilities:

Trade accounts payable

$

43,774

Accrued liabilities

66,808

Income taxes payable

4,027

Other short-term liabilities

6,462

Long-term debt

177,755

Deferred income taxes

2,594

Other liabilities

36,076

Total liabilities assumed

337,496

Net assets acquired

297,061

Gain on bargain purchase

116,499

Total consideration transferred

$

180,562

Schedule of selected financial information on a proforma basis

The pro forma condensed combined financial information has been included for comparative purposes and is not necessarily indicative of the results that might have actually occurred had the Parker acquisition taken place on January 1, 2024. Furthermore, the financial information is not intended to be a projection of future results. The following table summarizes our selected financial information on a pro forma basis:

Three Months Ended

 

Six Months Ended

June 30,

 

June 30,

    

2025

    

2024

 

2025

    

2024

(In thousands)

Operating revenues

$

832,788

$

890,346

$

1,672,093

$

1,784,985

Net income (loss)

 

(3,770)

 

190

 

(32,432)

 

79,981