Annual report pursuant to Section 13 and 15(d)

Business Acquisitions (Tables)

v3.22.2.2
Business Acquisitions (Tables)
 12 Months Ended
Sep. 30, 2022
Business Combinations [Abstract]  
Schedule of fair values of assets acquired and liabilities assumed The following table summarizes the consideration for the aforementioned acquisitions and the amounts of identified assets acquired and liabilities assumed as of September 30, 2022 (in thousands):
Acquisitions - Final North Carolina Acquisition - Provisional South Carolina Acquisition - Provisional Total
Cash and cash equivalents $ 1,168  $ —  $ —  $ 1,168 
Contracts receivable including retainage 7,162  1,854  —  9,016 
Cost and estimated earnings in excess of billings on uncompleted contracts 125  —  —  125 
Inventories 1,928  64  988  2,980 
Prepaid expenses and other current assets 213  —  —  213 
Property, plant and equipment 45,776  3,879  30,636  80,291 
Deferred tax assets 2,237  234  —  2,471 
Intangible assets 9,000  —  —  9,000 
Total assets 67,609  6,031  31,624  105,264 
Accounts payable 2,759  —  —  2,759 
Billings in excess of costs and estimated earnings on uncompleted contracts 2,697  426  —  3,123 
Accrued expenses and other current liabilities 2,526  594  2,980  6,100 
Unfavorable contract liabilities 4,900  —  3,000  7,900 
Deferred tax liabilities —  —  282  282 
Total liabilities 12,882  1,020  6,262  20,164 
Goodwill 37,647  7,369  284  45,300 
Total cash consideration transferred 92,374  11,716  25,646  129,736 
Total consideration payable —  664  —  664 
Total purchase price $ 92,374  $ 12,380  $ 25,646  $ 130,400 
The following table summarizes the consideration for the aforementioned acquisitions and the amounts of identified assets acquired and liabilities assumed (in thousands):
North Carolina Acquisitions Alabama Acquisition Total as of September 30, 2021 Finalized as of September 30, 2022
Accounts receivable $ 110  $ —  $ 110  $ 110 
Inventories 4,819  6,480  11,299  11,209 
Property, plant and equipment 70,613  35,020  105,633  105,847 
Mineral reserves (included in property, plant and equipment) 18,600  38,118  56,718  56,718 
Intangible assets —  75  75  3,700 
Total assets 94,142  79,693  173,835  177,584 
Total liabilities —  (718) (718) (3,210)
Goodwill 35,917  3,157  39,074  37,817 
Total purchase price $ 130,059  $ 82,132  $ 212,191  $ 212,191 
Schedule of pro forma revenues and net income
The following presents pro forma revenues and net income as though the acquisitions had occurred on October 1, 2019 (unaudited, in thousands):
For the Fiscal Year Ended September 30,
2022 2021 2020
Pro forma revenues $ 1,374,936  $ 1,104,850  $ 979,790 
Pro forma net income $ 19,137  $ 18,016  $ 38,136