ACQUISITIONS |
12 Months Ended |
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Dec. 31, 2018 | |
| Business Combinations [Abstract] | |
| ACQUISITIONS |
ACQUISITIONS
On January 1, 2016, we acquired substantially all of the assets and assumed certain liabilities of LEEVAC Shipyards, L.L.C. and its affiliates for a purchase price of $20.0 million, subject to a working capital adjustment whereby we received a dollar-for-dollar reduction for the assumption of certain net liabilities of the seller and settlement payments applied from sureties on certain ongoing projects that were assigned to us in the transaction. After taking into account these adjustments, we received approximately $3.0 million in cash from the seller. In connection with the transaction, we acquired approximately $121.2 million of backlog, inclusive of approximately $9.2 million of fair value adjustments and seller reimbursements allocated to four newbuild construction projects for two customers.
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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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