XML 40 R29.htm IDEA: XBRL DOCUMENT v3.25.2
Business Combinations and Asset Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The acquisition was accounted for in accordance with ASC 805. As such, we have applied acquisition accounting, which requires, among other things, that the assets acquired and liabilities assumed be recognized at their estimated acquisition-date fair values. The following table summarizes the Company’s preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed as of the Acquisition Date.
Balance Sheet ClassificationFair Value
Cash and cash equivalents$18,899 
Accounts receivable26,707 
Inventories189,973 
Operating lease right-of-use asset65,711 
Prepaid expenses and other current assets18,169 
Income tax receivable and prepaid income taxes3,350 
Property and equipment, net34,145 
Intangibles, net170,553 
Accounts payable(55,314)
Accrued expenses(31,745)
Income taxes payable(1,770)
Operating leases – current portion(8,603)
Operating leases – long-term portion(68,251)
Deferred tax liabilities(34,464)
Total fair value excluding goodwill327,360 
Goodwill77,988 
Net assets acquired$405,348 
Business Combination, Intangible Asset, Acquired, Finite-Lived
The components of intangible assets acquired in connection with the acquisition were as follows:
Intangible AssetEstimated
Lives		Amortization
Method		Estimated Fair
Value
TrademarksIndefiniteN/A$117,380 
Customer relationships
15-20 years
Straight-line53,173 
Total intangible assets$170,553 
Business Combination, Intangible Asset, Acquired, Indefinite-Lived
The components of intangible assets acquired in connection with the acquisition were as follows:
Intangible AssetEstimated
Lives		Amortization
Method		Estimated Fair
Value
TrademarksIndefiniteN/A$117,380 
Customer relationships
15-20 years
Straight-line53,173 
Total intangible assets$170,553 
Business Combination, Pro Forma Information The pro forma financial information, as presented below, is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on January 1, 2024, nor are they indicative of future operating results.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Total revenue$603,393 $647,360 $1,264,133 $1,314,448 
Net income6,398 21,828 45,664 15,045