v3.26.1
Business Combinations (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Total Purchase Consideration
The total purchase consideration for the acquisition was $127.1 million, which consisted of the following (in millions):
Cash
$125.9 
Fair value of contingent consideration liability on the acquisition date
1.2
Total purchase consideration
$127.1 
The fair value of consideration transferred for the acquisition was $69.8 million, which consisted of the following (in millions):
Cash
$25.0 
Fair value of Option to purchase FBO44.8
Total consideration transferred (75%)
69.8 
Noncontrolling interest (25%)
23.3 
Total value of the Hawthorne FBO$93.1 
Schedule of Fair Values of Assets Acquired and Liabilities Assumed
The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date (in millions):
Current assets
$0.1 
Option to purchase FBO (included in other current assets)44.8 
Property and equipment, net
50.3 
Right of Use asset15.6 
Intangible assets44.8 
Goodwill
0.1 
Current liabilities
(0.2)
Lease liabilities(11.1)
Other long-term liabilities
(1.2)
Loan assumed (debt)(16.1)
Total
$127.1 
The following table summarizes the preliminary estimated fair values of the assets acquired at the acquisition date (in millions):
Other current assets0.1 
Property and equipment, net0.2 
Intangible asset14.7 
Goodwill78.1 
Total
$93.1 
The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in millions):
Cash and cash equivalents$2.2 
Property and equipment, net0.4 
Developed technology2.8 
Goodwill2.3 
Tangible net liabilities acquired(0.2)
Deferred tax liabilities(1.4)
Total
$6.1 
Schedule of Intangible Assets Acquired
The following table shows the fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:
Preliminary Fair ValueUseful Life
(in millions)(Years)
Operating rights$44.8 30
Total identified intangible assets
$44.8 
The following table shows the preliminary estimated fair value of the separately identifiable intangible assets at the time of acquisition and the period over which each intangible asset will be amortized:
Preliminary Fair ValueUseful Life
(in millions)(Years)
Operating rights$14.7 5.5
Total identified intangible asset$14.7