Annual report pursuant to Section 13 and 15(d)

Acquisition of TNT Energy, LLC (Tables)

v3.8.0.1
Acquisition of TNT Energy, LLC (Tables)
12 Months Ended
Dec. 31, 2017
Purchase Price Allocation

Consideration:

  

Cash paid

   $ 8.6  

Promissory note

     2.0  

Contingent consideration

     4.1  
  

 

 

 

Net Assets

   $ 14.7  
  

 

 

 

Fair Value of Assets Acquired and Liabilities Assumed:

  

Working capital, net

   $ 0.9  

Goodwill (1)

     7.9  

Intangible assets

     5.9  
  

 

 

 

Net Assets

   $ 14.7  
  

 

 

 

 

(1) Since our initial valuation on the date of the acquisition, we recorded a $1.7 million increase to goodwill related to adjustments in working capital, including $0.1 million in the second quarter of 2017. Goodwill is expected to be deductible for income tax purposes.