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Acquisitions and Sale of Business (Notes) | 3 Months Ended
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Mar. 31, 2025
Business Combination [Abstract] |
Business Combination [Text Block] | Acquisitions and Sale of Business 2025 Acquisitions On February 17, 2025, the Company acquired the aerospace business of GMT Gummi-Metall-Technik GmbH (“GMT”) for a purchase price of $37.2 million. Based on a preliminary purchase price allocation, the fair value of assets acquired and liabilities assumed included $15.3 million of goodwill, $4.6 million of intangible assets, $0.2 million of property and equipment, and $17.1 million of net working capital. The final purchase price remains subject to an adjustment for net working capital as defined in the purchase agreement. Based in Germany, GMT’s aerospace division (“GMT Aerospace”) develops and manufactures a wide range of tie-rods and rubber-metal anti-vibration systems for commercial and military aerospace applications with annual net sales of approximately €22.0 million. GMT Aerospace is part of the Aerospace reportable segment. Sale of Business On January 31, 2025, the Company completed the sale of its Arrow Engine business within the Specialty Products segment for net cash proceeds of $20.5 million, with the final sale price remaining subject to a working capital adjustment, if any, which is expected to be completed by mid-2025. As a result, the Company recorded a pre-tax gain of $5.3 million.

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