v3.26.1
Organization and Description of Business (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Preliminary Purchase Price Allocation of Assets Acquired and Liabilities Assumed The following table summarizes the preliminary allocation of the purchase price among assets acquired and liabilities assumed (in thousands):
At January 12, 2026
Total current assets$136,404 
Property and equipment, net868,672 
Lease right-of-use assets, net4,589 
Intangible assets, net (1)
5,400 
Other long-term assets, net1,296 
Goodwill (2)
117,446 
Total assets1,133,807 
Total current liabilities32,652 
Non-current operating lease liabilities2,966 
Deferred income taxes186,595 
Total liabilities222,213 
Total consideration$911,594 
Cash acquired10,646 
Total consideration, net of cash acquired$900,948 
(1)Intangible assets, net consists of $5.4 million of trade names with a remaining useful life of approximately 3 years.
(2)Goodwill recorded is primarily related to the recognition of deferred tax liabilities arising from acquisition date fair value adjustments with the remainder related to expected commercial and operational synergies, and is subject to change based on final purchase price allocations. None of the goodwill recorded as a result of this transaction is deductible for tax purposes.
Unaudited Pro Forma Results of Operations
The following unaudited pro forma consolidated results of operations for the three and six months ended June 30, 2026 and 2025 are presented as if the J-W Power Acquisition had been completed on January 1, 2025 (in thousands).
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenues$342,146 $339,883 $683,702 $664,466 
Net income47,018 48,165 93,349 83,829