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Acquisitions and Divestitures (Tables) | 3 Months Ended
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Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of Preliminary Fair Value Of Assets Acquired And Measurement Period Adjustments | The Company’s initial allocation of the assets acquired and liabilities assumed in the acquisition of Inapel, as well as revised preliminary fair values reflecting adjustments made during the measurement period, are as follows:
| Initial Allocation |  | Measurement Period Adjustments |  | Preliminary Allocation
Trade accounts receivable | $ | 30,301 |  |  | $ | (133) |  |  | $ | 30,168 |
Other receivables | 6,088 |  |  | 70 |  |  | 6,158 |
Inventories | 9,269 |  |  | — |  |  | 9,269 |
Prepaid expenses | 1,430 |  |  | — |  |  | 1,430 |
Property, plant and equipment | 11,456 |  |  | 17,459 |  |  | 28,915 |
Right of use asset - operating leases | 217 |  |  | — |  |  | 217 |
Other intangible assets | 8,653 |  |  | (1,094) |  |  | 7,559 |
Goodwill | 15,704 |  |  | (7,130) |  |  | 8,574 |
Other assets | 793 |  |  | — |  |  | 793 |
Payable to suppliers | (15,899) |  |  | 3,058 |  |  | (12,841) |
Accrued expenses and other | (5,733) |  |  | (1,350) |  |  | (7,083) |
Noncurrent operating lease liabilities | (117) |  |  | — |  |  | (117) |
Deferred income taxes | (2,934) |  |  | (5,564) |  |  | (8,498) |
Total purchase price, net of cash acquired | $ | 59,228 |  |  | $ | 5,316 |  |  | $ | 64,544 |
| Initial Allocation |  | Measurement Period Adjustments |  | Preliminary Allocation
Trade accounts receivable | $ | 17,488 |  |  | $ | — |  |  | $ | 17,488 |
Other receivables | — |  |  | — |  |  | — |
Inventories | 20,209 |  |  | (947) |  |  | 19,262 |
Prepaid expenses | 2,720 |  |  | (589) |  |  | 2,131 |
Property, plant and equipment | 73,483 |  |  | 753 |  |  | 74,236 |
Right of use asset - operating leases | 34,604 |  |  | 290 |  |  | 34,894 |
Other intangible assets | 199,560 |  |  | (8,995) |  |  | 190,565 |
Goodwill | 92,657 |  |  | 14,909 |  |  | 107,566 |
Other assets | 2,465 |  |  | (412) |  |  | 2,053 |
Payable to suppliers | (7,320) |  |  | — |  |  | (7,320) |
Accrued expenses and other | (15,167) |  |  | (25) |  |  | (15,192) |
Notes payable and current portion of long-term debt | (24) |  |  | — |  |  | (24) |
Noncurrent operating lease liabilities | (29,905) |  |  | — |  |  | (29,905) |
Pension and other postretirement benefits | (10,761) |  |  | (768) |  |  | (11,529) |
Long-term debt | (1,942) |  |  | — |  |  | (1,942) |
Deferred income taxes | (3,419) |  |  | (2,502) |  |  | (5,921) |
Other long-term liabilities | (3,293) |  |  | 1,478 |  |  | (1,815) |
Net assets acquired | $ | 371,355 |  |  | $ | 3,192 |  |  | $ | 374,547 |
Schedule of the Purchase Consideration Transferred for the Acquisitions | The following table provides a summary of the purchase consideration (as defined under Accounting Standards Codification (“ASC”) 805) transferred for the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill:
| Purchase Consideration
Cash consideration, net of cash acquired | $ | 313,388 |
Fair value of previously held interest in RTS Packaging | 59,472 |
Final working capital adjustment | 452 |
Settlement of preexisting relationships | 1,235 |
Purchase consideration transferred | $ | 374,547 |

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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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