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Mergers and Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The following table represents the fair values assigned to the acquired assets and liabilities assumed in the transaction. As of the filing date of this Form 10-K, the purchase accounting and purchase price allocation for the Silicone Engineering transaction have been completed.
(Dollars in thousands) | October 8, 2021
Assets |
Accounts receivable | $ | 6,721 |
Other current assets | 1,516 |
Inventories | 1,787 |
Property, plant and equipment | 9,840 |
Goodwill | 107,231 |
Other intangible assets | 73,628 |
Other long-term assets | 850 |
Total assets | 201,573 |
Liabilities |
Accounts payable | 3,933 |
Accrued income taxes payable | 1,383 |
Other accrued liabilities | 2,102 |
Non-current income tax | 1,444 |
Deferred income taxes | 20,039 |
Other long-term liabilities | 393 |
Total liabilities | 29,294 |
Fair value of net assets acquired | $ | 172,279 |
Schedule of Pro-Forma Information | The following unaudited pro forma financial information presents the combined results of operations of Rogers and Silicone Engineering as if the Silicone Engineering acquisition had occurred on January 1, 2020. The unaudited pro forma financial information is not intended to represent or be indicative of our consolidated results of operations that would have been reported had the Silicone Engineering acquisition been completed as of January 1, 2020 and should not be taken as indicative of our future consolidated results of operations.
| For the Years Ended December 31,
(Dollars in thousands) | 2021 |  | 2020
Net sales | $ | 973,188 |  |  | $ | 835,610 |
Net income | $ | 120,082 |  |  | $ | 47,460 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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