Merger and Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combinations [Abstract]  
Schedule of Fair Value of the Consideration Transferred
The Closing Date fair value of the consideration transferred totaled $634.0 million, which was comprised of the following:
($ in thousands, except share and per share amounts)Purchase Price
Shares of V2X common stock issued18,591,866 
Market price per share of V2X as of Closing Date$33.92 
Fair value of common shares issued$630,636 
Fair value of cash consideration3,315 
Total consideration transferred$633,951 
Schedule of Purchase Price Allocation
The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed in the Merger as of the Closing Date. The estimated fair value of Vertex’s assets acquired and liabilities assumed at the acquisition date are determined based on preliminary valuations and analyses. As of December 31, 2022, we considered these amounts to be preliminary because we are still in the process of gathering and reviewing information to support the valuations of certain contractual and operational factors underlying the customer related intangible assets, details surrounding tax matters and assumptions underlying certain existing or potential reserves, such as those for workers compensation and loss and below market contracts which are included in current and non-current liabilities below. The final determination could result in material adjustments.
(In thousands)Preliminary Fair Value
Cash and cash equivalents$196,993 
Receivables334,655 
Prepaid expenses49,172 
Property, plant, and equipment53,618 
Intangible assets480,000 
Other non-current assets18,895 
Right-of-use assets21,062 
Accounts payable(121,515)
Debt(1,352,303)
Compensation and other employee benefits(45,968)
Other current and non-current liabilities(332,746)
Total identifiable net assets(698,137)
Goodwill1,332,088 
Total purchase consideration$633,951 
A breakdown of the purchase price allocation, net of cash acquired, is as follows:
(In thousands)Allocation of Purchase Price
Receivables$40,144 
Deferred taxes88 
Other current assets1,314 
Property, plant and equipment1,108 
Goodwill53,541 
Intangible assets57,100 
Right-of-use assets7,930 
Accounts payable(7,381)
Other current liabilities(15,821)
Accrued compensation(12,087)
Lease liabilities(8,275)
Other non-current liabilities(55)
Purchase price, net of cash acquired$117,606 
Schedule of Pro Forma Information
This unaudited pro forma information is presented for informational purposes only and may not necessarily reflect the actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.
Year Ended December 31,
(Unaudited, in thousands)20222021
Pro forma revenue$3,669,567 $3,371,828 
Pro forma net (loss) income$(11,281)$60,137