Company: ARRY
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001820721-25-000095
Chunk: 116

Company: Array Technologies, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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 be realized from the APA Acquisition. The goodwill is deductible for tax purposes.

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The following table summarizes the preliminary estimates of fair values of the assets acquired and liabilities assumed as of the Closing Date:Preliminary fair value of net assets acquired and liabilities assumed: Acquisition DateCash and cash equivalents$1,219 Accounts receivable29,043 Inventories25,467 Prepaid expenses and other466 Property, plant and equipment14,256 Other intangible assets80,800 Other assets27,050 Total assets acquired$178,301 Accounts payable12,540 Deferred revenue22,121 Other liabilities4,079 Other long-term liabilities26,330 Total liabilities assumed$65,070 Preliminary fair value of net assets acquired113,231 Preliminary allocation to goodwill$72,911 The preliminary purchase price allocation was based upon a preliminary valuation, and the Company’s estimates and assumptions are subject to change within the measurement period (defined as the twelve months following the Closing Date). The Company is in the process of specifically identifying the amounts assigned to certain tangible assets and liabilities acquired, identifiable intangible assets, income and non-income based taxes, residual goodwill, and the allocation of goodwill to reporting units, and the Company is in the process of reviewing the related third-party valuation. The amounts recorded as of September 30, 2025 are preliminary, as there was insufficient time between the Closing Date and the end of the period to finalize the analysis. These preliminary estimates are subject to change and related accounting adjustments may be materially different, as the Company obtains additional information on these matters and as additional information is made known during the post-acquisition measurement period.

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The preliminary purchase price allocation includes $80.8 million of acquired identifiable intangible assets as follows:Estimated Fair Value(in USD)Estimated Weighted Average Useful Life in Years(in thousands, except useful lives)Developed technology$21,800 5Computer software and other13,000 5Customer relationships34,000 5-9Backlog2,000 1Trade name10,000 10Total$80,800 The preliminary fair value of the identifiable intangible assets has been estimated using the Multi-Period Excess Earnings Method (Customer relationships and Backlog), Relief from Royalty Method (Trade name), and Replacement Cost Method (Developed technology and Computer software and other). The intangible assets are being amortized over their estimated useful lives on a straight-line basis that reflects the economic benefit