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Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions, by Acquisition |
(Thousands) |  | Initial Allocation of Consideration |  | Measurement Period Adjustments |  | Final Allocation
Assets: |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,685 |  |  | $ | — |  |  | $ | 3,685 |
Accounts receivable |  | 28,352 |  |  | 35 |  |  | 28,387 |
Inventories |  | 70,681 |  |  | — |  |  | 70,681 |
Prepaid and other current assets |  | 660 |  |  | (450) |  |  | 210 |
Property, plant, and equipment |  | 44,681 |  |  | 355 |  |  | 45,036 |
Operating lease, right-of-use assets |  | 6,120 |  |  | — |  |  | 6,120 |
Intangible assets |  | 107,800 |  |  | — |  |  | 107,800 |
Other long-term assets |  | 4,528 |  |  | — |  |  | 4,528 |
Goodwill |  | 178,181 |  |  | 3,144 |  |  | 181,325 |
Total assets acquired |  | $ | 444,688 |  |  | $ | 3,084 |  |  | $ | 447,772 |
Liabilities: |  |  |  |  |  |
Accounts payable |  | $ | 12,139 |  |  | $ | (240) |  |  | $ | 11,899 |
Salaries and wages |  | 2,516 |  |  | $ | 625 |  |  | 3,141 |
Other liabilities and accrued items |  | 28 |  |  | $ | — |  |  | 28 |
Income taxes |  | 2,183 |  |  | $ | (457) |  |  | 1,726 |
Other long-term liabilities |  | 5,543 |  |  | $ | 215 |  |  | 5,758 |
Operating lease liabilities |  | 6,042 |  |  | $ | — |  |  | 6,042 |
Deferred income taxes |  | 20,300 |  |  | $ | (30) |  |  | 20,270 |
Total liabilities assumed |  | $ | 48,751 |  |  | $ | 113 |  |  | $ | 48,864 |
Net assets acquired |  | $ | 395,937 |  |  | $ | 2,971 |  |  | $ | 398,908 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table reports the intangible assets by asset category as of the closing date:
(Thousands) |  | Value at Acquisition |  | Useful Life
Customer relationships |  | $ | 50,200 |  |  | 13 years
Technology |  | 35,300 |  |  | 13 years
Trade name |  | 22,300 |  |  | 15 years
Total |  | $ | 107,800 |  |  |
Pro Forma Information | Had the HCS-Electronic Materials acquisition occurred as of the beginning of fiscal 2020, the Company's sales and income (loss) before taxes would have been as follows:
| (Unaudited)
| Year Ended December 31,
| 2021 |  | 2020
Net Sales | $ | 1,659,620 |  |  | $ | 1,308,300 |
Profit income (loss) before taxes | $ | 91,551 |  |  | $ | (17,761) |

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