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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed for Precision as of the acquisition date (in thousands):
Receivables |  | $ | 18,386 |
Inventory |  | 11,680 |
Other current assets |  | 2,391 |
Property, plant and equipment |  | 5,109 |
Intangible assets |  | 176,500 |
Goodwill |  | 131,402 |
Operating lease right-of-use assets |  | 3,272 |
Total assets acquired |  | $ | 348,740 |
Accounts payable |  | $ | 11,350 |
Accrued liabilities |  | 3,485 |
Deferred income taxes |  | 41,379 |
Long-term operating lease liabilities |  | 2,936 |
Total liabilities assumed |  | $ | 59,150 |
Net assets |  | $ | 289,590 |
Schedule of Acquired Intangible Assets | The intangible assets related to the acquisition consisted of the following:
|  | Fair Value |  | Amortization Period
|  | (In thousands) |  | (In years)
Intangible assets subject to amortization: |  |  |  |
Developed technologies |  | $ | 21,000 |  |  | 5.0
Customer relationships |  | 145,000 |  |  | 20.0
Trademarks |  | 6,000 |  |  | 5.0
Non-compete agreements |  | 4,500 |  |  | 5.0
Total intangible assets subject to amortization |  | $ | 176,500 |  |  |
Intangible assets not subject to amortization: |  |  |  |
Goodwill |  | $ | 131,402 |  |  | n/a
Total intangible assets not subject to amortization |  | $ | 131,402 |  |  |
Total intangible assets |  | $ | 307,902 |  |  |
Weighted average amortization period |  |  |  | 17.3

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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 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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