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Subsequent Event | 6 Months Ended
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Sep. 30, 2023
Subsequent Events [Abstract] |
Subsequent Event | 14. Subsequent Event On October 13, 2023, the Company acquired 100% of the equity interests of Regional Enterprises, LLC and related companies ("Regional"). The purchase price (exclusive of working capital and earnout adjustments) is estimated to be $313 million, net of cash acquired, plus assumed debt, primarily related to inventory floor plan liabilities, of $93 million. The purchase price is subject to an earnout provision as well as customary net working capital adjustments. The Company funded the acquisition with cash on hand and $30 million of the Company’s common stock. Regional, the fourth largest HUD manufacturer in the United States, operates three manufacturing facilities in Alabama and 43 retail sales centers across the southeast U.S. The related acquisition costs, which are included in Other Expense (Income), Net in the Condensed Consolidated Income Statements, were $2.1 million during the three and six months ended September 30, 2023. The initial accounting for the business combination is incomplete at the time of this filing due to the limited amount of time since the acquisition date and the ongoing status of the valuation. Therefore, it is not practical for the Company to provide the major classes of assets acquired and liabilities assumed or pro forma revenue and earnings.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483399/855-10-50-2 + Details
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