XML 24 R17.htm IDEA: XBRL DOCUMENT
v3.25.2

Investments in Unconsolidated Affiliates | 6 Months Ended
--- | ---
Jun. 30, 2025
Equity Method Investments and Joint Ventures [Abstract] |
Investments in Unconsolidated Affiliates | NOTE 8. INVESTMENTS IN UNCONSOLIDATED AFFILIATES Investments in unconsolidated affiliates include our 50% equity interest in Worthington Armstrong Venture (“WAVE”), our joint venture with Worthington Enterprises, Inc., and our 19.5% equity interest in Overcast. Both the WAVE joint venture and Overcast investment are reflected within our Condensed Consolidated Financial Statements using the equity method of accounting. WAVE is reflected as a component of our Mineral Fiber segment while Overcast is included as a component of our Unallocated Corporate segment. The following table presents equity (earnings) losses from our unconsolidated affiliates for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
WAVE |  | $ | (32.1 | ) |  | $ | (26.5 | ) |  | $ | (58.9 | ) |  | $ | (53.9 | )
Overcast |  |  | 0.2 |  |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 0.4 |
Equity (earnings) from unconsolidated affiliates, net |  | $ | (31.9 | ) |  | $ | (26.3 | ) |  | $ | (58.5 | ) |  | $ | (53.5 | )
The following table presents condensed financial statement data for WAVE:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net sales |  | $ | 140.0 |  |  | $ | 126.1 |  |  | $ | 264.1 |  |  | $ | 251.9 |
Gross profit |  |  | 86.7 |  |  |  | 71.1 |  |  |  | 161.8 |  |  |  | 147.8 |
Net earnings |  |  | 66.4 |  |  |  | 55.2 |  |  |  | 121.7 |  |  |  | 112.2 |

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
Name: | us-gaap_EquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration