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Note 3 - Acquisition and Divestiture - Schedule of Business Acquisition (Details) - USD ($) $ in Thousands | Nov. 14, 2024 | Dec. 31, 2024 | Dec. 31, 2023 | Dec. 31, 2022
--- | --- | --- | --- | ---
Goodwill |  |  | $ 208,036 | $ 26,642 | $ 25,099
Enercon Technologies, Ltd [Member] |  |  |  |  |
Cash |  | $ 3,590 |  |  |
Accounts receivable |  | 21,088 |  |  |
Inventories | [1] | 42,271 |  |  |
Other current assets |  | 4,144 |  |  |
Property, plant and equipment | [2] | 9,357 |  |  |
Intangible assets | [3] | 189,700 |  |  |
Other assets |  | 3,496 |  |  |
Total identifiable assets |  | 273,646 |  |  |
Accounts payable |  | 9,585 |  |  |
Accrued expenses |  | 6,670 |  |  |
Other current liabilities |  | 5,104 |  |  |
Noncurrent liabilities | [4] | 30,522 |  |  |
Total liabilities assumed |  | 51,881 |  |  |
Net identifiable assets acquired |  | 221,765 |  |  |
Goodwill | [5] | 182,905 |  |  |
Net assets acquired |  | 404,670 |  |  |
Cash paid |  | 324,071 |  |  |
Fair value of contingent consideration |  | 3,300 |  |  |
Fair value of noncontrolling interest | [6] | 72,354 |  |  |
Fair value of consideration transferred |  | 404,670 |  |  |
Deferred consideration |  | (80,599) |  |  |
Total consideration paid |  | 324,071 |  |  |
Enercon Technologies, Ltd [Member] | Sellers Note [Member] |  |  |  |  |
Fair value of contingent consideration | [7] | $ 4,945 |  |  |
[1] | The inventories noted include an estimated step-up in fair value of $2.4 million.
[2] | The property, plant and equipment noted above includes a $3.7 million step-up based on estimated acquisition-date fair value.
[3] | The preliminary fair value of identifiable intangible assets related to Enercon is shown in the table below. For those intangible assets with finite lives, the acquisition-date fair values will be amortized over their respective estimated future lives utilizing the straight-line method.
[4] | Deferred taxes have been established on the previously-mentioned step-ups for inventories, property, plant and equipment and intangible assets.
[5] | The goodwill is identifiable to the Power Solutions and Protection reportable segment and is attributable to expected synergies from combining operations, as well as intangible assets that do not qualify for separate recognition. The amount of goodwill is provisional as of the filing date, as the fair value determination of inventories acquired, and appraisals related to property, plant and equipment, various intangible assets and certain liabilities such as lease liabilities is still under review. All goodwill will be deductible for tax purposes over a period of 15 years.
[6] | In connection with its acquisition of Enercon, the Company recorded a redeemable noncontrolling interest which was initially recorded at a fair value of $72.4 million as of the acquisition date utilizing the Monte Carlo simulation. Inputs to this valuation approach included the projected EBITDA (as defined in the Purchase Agreement) for fiscal year 2026, a market price risk adjustment for the EBITDA of 8.4%, an EBITDA volatility measure of 51% and a forward rate of 4.08%.
[7] | In connection with its acquisition of Enercon, the Company assumed a related party loan payable to FF3 in the amount of $4.9 million.

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