|6 Months Ended|
Jun. 30, 2019
16. SUBSEQUENT EVENTS
On July 15, 2019, we acquired Viking Insulation, an insulation installation company, based in Burbank, California. The acquisition was accounted for as a business combination under ASC 805, “Business Combinations.” The purchase price of approximately $8.0 million was funded by cash on hand of $6.5 million and contingent consideration at an undiscounted target value of $1.5 million. During the measurement period, we expect to receive additional detailed information to complete the purchase allocation.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef