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Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Summary of Purchase Price Allocations

We have substantially completed our estimates of fair value of assets acquired and liabilities assumed. Our estimates are subject to revisions, which may result in adjustments to the preliminary values discussed below. The purchase price consideration was allocated to the net assets acquired based upon their respective estimated fair values as follows:

						Acquisition Date Fair Value
						(thousands)
Cash and cash equivalents						$	4,009
Accounts receivable						19,688
Inventories						36,000
Other current assets						159
Property and equipment						57,331
Other assets						508
Intangible assets:
Trade name						18,000
Customer relationships						29,000
Goodwill						32,296
Assets acquired						196,991
Accounts payable						2,144
Accrued liabilities						4,078
Deferred tax liabilities						20,121
Other long-term liabilities						478
Liabilities assumed						26,821
Net assets acquired						$	170,170
Consideration paid, net of cash acquired						$	166,161

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
						Three Months Ended March 31
						2023
			(unaudited, thousands)
Sales						$	1,594,458
Net income						$	101,051

X

- 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

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- References

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X

- 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

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