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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table presents the fair value of the assets acquired and liabilities assumed with respect to the Palette acquisition:
Assets |
Accounts receivable | $ | 8,898 |
Inventories | 5,750 |
Other current assets | 897 |
Current assets | 15,545 |
Property, plant and equipment, net | 2,180 |
Intangible assets | 333,500 |
Goodwill | 357,025 |
Deferred tax assets | 2,026 |
Other assets | 1,557 |
Noncurrent assets | 696,288 |
Total assets | 711,833 |
Liabilities |
Current liabilities | 18,683 |
Deferred tax liabilities | 69,389 |
Other liabilities | 1,909 |
Liabilities | 89,981 |
Net assets acquired | $ | 621,852 |
Schedule of Identifiable Intangible Assets Acquired and Ranges of Useful Lives | The following table sets forth the components of identifiable intangible assets acquired and the ranges of the useful lives as of the date of the Palette acquisition:
| Fair value |  | Useful life (years)
Intellectual property | $ | 264,000 |  |  | 12
Trade names | 40,500 |  |  | 25
Customer relationships | 29,000 |  |  | 15
Schedule of Business Acquisitions, by Acquisition |
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Non cash investing and financing activities of continuing operations: |  |  |  |  |
Acquisition of businesses | $ | 27,000 |  |  | $ | 43,168 |  |  | $ | — |
Schedule of Business acquisition, Pro Forma Information | The pro forma information is presented for informational purposes only and is not necessarily indicative of the results of operations that actually would have occurred under our ownership and management.
| Year Ended December 31,
| 2023 |  | 2022
| (Unaudited)
Net income | $ | 310,356 |  |  | $ | 282,425 |
Basic earnings per share: |  |  |
Net income | $ | 6.61 |  |  | $ | 6.02 |
Diluted earnings per share: |  |  |
Net income | $ | 6.56 |  |  | $ | 5.97 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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