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Manufacturing Facility Fire and Insurance Recovery (Notes) | 9 Months Ended
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Sep. 30, 2023
Insurance Recoveries [Abstract] |
Manufacturing Facility Fire and Insurance Recovery | 15. MANUFACTURING FACILITY FIRE AND INSURANCE RECOVERY In the third quarter of 2020, a significant industrial fire occurred at our Malvern Manufacturing Facility in Ohio (Malvern Fire). All associates were evacuated safely and without injury and we were able to maintain continuity of supply to our customers without any significant disruptions. In the fourth quarter of 2022, we finalized the claim with our insurance providers. In January 2023, we collected the final $24.0 million associated with this claim, of which $7.0 million has been presented as an operating cash inflow and $17.0 million has been presented as an investing cash inflow in our Condensed Consolidated Statement of Cash Flows for the first nine months of 2023. There was no impact on our Condensed Consolidated Statement of Operations for the nine months ended September 30, 2023 associated with the Malvern Fire. Our insurance policies covered the repair, replacement or actual cash value of the assets that incurred loss or damage, less our applicable deductible of $1.0 million. In addition, our insurance policies provided coverage for interruption to our business, including lost or reduced profits and reimbursement for certain expenses and costs that were incurred related to the fire. In the nine months ended September 30, 2022, we recorded $2.2 million of charges primarily related to transportation and freight and other costs incurred to resume or relocate operations and ensure continuity of supply to our customers. We also recorded an estimated insurance recovery of $8.6 million and received reimbursements and advances under our insurance policies of approximately $14.0 million, of which approximately $7.7 million was presented as an operating cash flow and $6.3 million was presented as an investing cash flow in our Condensed Consolidated Statement of Cash Flows. This resulted in net pre-tax income in our Condensed Consolidated Statement of Operations of approximately $6.4 million in Cost of goods sold for the nine months ended September 30, 2022.

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- Definition The entire disclosure for business interruption insurance recoveries. Includes, but is not limited to, the nature of the event resulting in business interruption losses, amount of business interruption insurance recoveries recognized, and line item in the statement of income in which those recoveries are classified. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220-30/tableOfContent + Details
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