Acquisitions (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Alloy Custom Products, LLC and WesMor Cryogenics, LLC |
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| Schedule of fair value of consideration paid |
The fair value of consideration paid by the Company in connection with the CIS acquisition was as follows (in thousands): | | | | Cash | | $ | 30,700 | Due to Cryogenic Industrial Solutions, LLC | | | 500 | Plug Power Inc. Common Stock | | | 6,107 | Total consideration | | $ | 37,307 |
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| Summary of allocation of the purchase price to the estimated fair value of the net assets acquired |
The following table summarizes the final allocation of the purchase price to the fair value of the net assets acquired, excluding goodwill (in thousands): | | | | Cash | | $ | 267 | Accounts receivable | | | 5,038 | Inventory | | | 11,120 | Prepaid expenses and other assets | | | 464 | Property, plant and equipment | | | 3,887 | Right of use asset | | | 1,538 | Identifiable intangible assets | | | 13,430 | Lease liability | | | (1,562) | Accounts payable, accrued expenses and other liabilities | | | (3,826) | Deferred revenue | | | (6,193) | Total net assets acquired, excluding goodwill | | $ | 24,163 |
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| Schedule of business combination segment allocation |
Goodwill associated with the CIS acquisition was calculated as follows (in thousands): | | | | Consideration paid | | $ | 37,307 | Less: net assets acquired | | | (24,163) | Total goodwill recognized | | $ | 13,144 |
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| Joule Processing LLC |
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| Schedule of fair value of consideration paid |
The fair value of consideration paid by the Company in connection with the Joule acquisition was as follows (in thousands): | | | | Cash | | $ | 28,140 | Contingent consideration | | | 41,732 | Total consideration | | $ | 69,872 |
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| Summary of allocation of the purchase price to the estimated fair value of the net assets acquired |
The following table summarizes the final allocation of the purchase price to the fair value of the net assets acquired, excluding goodwill (in thousands): | | | | Current assets | | $ | 2,672 | Property, plant and equipment | | | 493 | Right of use asset | | | 182 | Identifiable intangible assets | | | 60,522 | Lease liability | | | (374) | Current liabilities | | | (2,612) | Contract liability | | | (3,818) | Total net assets acquired, excluding goodwill | | $ | 57,065 |
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| Schedule of business combination segment allocation |
Goodwill associated with the Joule acquisition was calculated as follows (in thousands): | | | | Consideration paid | | $ | 28,140 | Contingent consideration | | | 41,732 | Less: net assets acquired | | | (57,065) | Total goodwill recognized | | $ | 12,807 |
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| Schedule of unaudited pro forma financial information |
| | | | | | | For the year ended | | For the year ended | | December 31, 2022 | | December 31, 2021 | | (unaudited) | | (unaudited) | Revenue | $ | 701,742 | | $ | 513,174 | Net loss | $ | (723,934) | | $ | (460,008) |
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