v3.26.3
Acquisition (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of acquisition
The following table summarizes the preliminary allocation of the opening balance sheet as of the date of the Valley acquisition through September 30, 2026:
(in thousands)July 1, 2026 acquisition date (initial estimates)
Cash paid$331,043 
Contingent consideration - fair value at acquisition date2,000 
Preliminary estimated net asset and other adjustments(636)
Total consideration, net of estimated net asset adjustments332,407 
Less: Acquired cash(5,619)
Total consideration less cash acquired, net of estimated net asset and other adjustments$326,788 
Cash and cash equivalents$5,619 
Accounts receivable97,662 
Contract assets, net56,053 
Prepaid expenses and other current assets2,078 
Property and equipment9,737 
Intangible assets168,000 
Operating lease right-of-use assets9,875 
Other assets1,185 
Current portion of long-term debt(162)
Accounts payable(36,705)
Contract liabilities, net(35,389)
Current portion of operating lease obligations(1,974)
Current portion of finance lease obligations(206)
Accrued salaries and benefits(6,971)
Other current liabilities(1,085)
Deferred income tax liabilities(37,507)
Operating lease obligations, net of current maturities(7,591)
Finance lease obligations, net of current maturities(581)
Long-term debt(126)
Total identifiable assets and liabilities221,912 
Goodwill$110,495 
Summary of identifiable intangible assets
The following table summarizes the estimated fair value of identifiable intangible assets and the related weighted average amortization periods as of the date of the Valley acquisition.
Estimated Fair Value at Acquisition DateWeighted Average Amortization Period at Acquisition Date
(in thousands)(in years)
Amortizable Intangible Assets
Customer relationships$100,000 12.0
Backlog25,000 2.3
Total amortizable intangible assets125,000 11.6
Indefinite-lived Intangible Assets
Trade name43,000 Indefinite
Total intangible assets$168,000