XML 54 R31.htm IDEA: XBRL DOCUMENT v3.22.4
Acquisition (Tables)
 12 Months Ended
Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Fair Value at the Date of Acquisition [Table Text Block] The following table summarizes the allocations of the purchase price to the assets acquired and liabilities assumed, based on our current estimates of the fair value at the date of the Acquisition:
Acquisition Date Fair Value
(thousands)
Accounts receivable$16,123 
Inventories22,977
Property and equipment251,329
Other assets1,809
Intangible assets:
   Trade name700
   Customer relationships153,600
Goodwill77,576
Assets acquired524,114
Accounts payable and accrued liabilities6,299 
Other long-term liabilities2,578 
Liabilities assumed8,877 
Net assets acquired$515,237 
Business Acquisition, Pro Forma Information, [Table Text Box] The following pro forma financial information presents the combined results of operations as if the two Coastal Plywood facilities had been combined with us on January 1, 2021. The pro forma results are intended for information purposes only and do not purport to represent what the combined companies' results of operations would actually have been had the related transaction in fact occurred on January 1, 2021. They also do not reflect any cost savings, operating synergies, or revenue enhancements that we may achieve or the costs necessary to achieve these cost savings, operating synergies, revenue enhancements, or integration efforts.
Pro Forma
Year Ended December 31
20222021
(unaudited, thousands)
Sales$8,618,105 $8,303,754 
Net income (a)$932,352 $818,476 
___________________________________ 
 
(a)    The pro forma financial information for the year ended December 31, 2022 was adjusted to exclude $1.3 million of pre-tax acquisition-related costs for legal, accounting, and other advisory-related services.