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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Fair Value at the Date of Acquisition | 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 BROSCO Acquisition:
|  | Acquisition Date Fair Value
|  | (thousands)
Cash and cash equivalents |  | $ | 4,009 |
Accounts receivable |  | 18,249 |
Inventories |  | 37,104
Other current assets |  | 1,503
Property and equipment |  | 57,331
Other assets |  | 533
Intangible assets: |  |
Trade name |  | 18,000
Customer relationships |  | 29,000
Goodwill |  | 32,296
Assets acquired |  | 198,025
Accounts payable |  | 2,688 |
Accrued liabilities |  | 7,955 |
Deferred tax liabilities |  | 20,121 |
Other long-term liabilities |  | 478 |
Liabilities assumed |  | 31,242 |
Net assets acquired |  | $ | 166,783 |
Consideration paid, net of cash acquired |  | $ | 162,774 |
The following table summarizes the final allocations of the purchase price to the assets acquired and liabilities assumed, based on our estimates of the fair value at the date of the Coastal Plywood Acquisition:
|  | Acquisition Date Fair Value
|  | (thousands)
Accounts receivable |  | $ | 16,123 |
Inventories |  | 22,977
Property and equipment |  | 251,329
Other assets |  | 1,809
Intangible assets: |  |
Trade name |  | 700
Customer relationships |  | 153,600
Goodwill |  | 77,576
Assets acquired |  | 524,114
Accounts payable and accrued liabilities |  | 6,299 |
Other long-term liabilities |  | 2,578 |
Liabilities assumed |  | 8,877 |
Net assets acquired |  | $ | 515,237 |
Business Acquisition, Pro Forma Information | The following pro forma financial information presents the combined results of operations as if the BROSCO facilities had been combined with us on January 1, 2022. 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, 2022. 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
| 2023 |  | 2022
| (unaudited, thousands)
Sales | $ | 6,985,464 |  |  | $ | 8,582,674 |
Net income (a) | $ | 498,065 |  |  | $ | 864,708 |
___________________________________ (a) The pro forma financial information for the year ended December 31, 2023 was adjusted to exclude $5.1 million of pre-tax acquisition-related costs for legal, accounting, and other advisory-related services. 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
| 2022 |  | 2021
| (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.

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -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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