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Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Preliminary Acquisition Fair Value | The following table details the fair values as of the acquisition date (in millions):
Purchase price: | $ | 72.6 |
Less: |
Cash | 0.3 |
Accounts receivable | 23.0 |
Inventories | 4.6 |
Prepaid expenses and other current assets | 2.5 |
Property, plant and equipment | 0.3 |
Operating lease right-of-use assets | 0.8 |
Customer lists | 24.1 |
Trademarks | 6.2 |
Other assets | 0.1 |
Total identifiable assets acquired | $ | 61.9 |
Accounts payable | (12.5) |
Accrued expenses and other current liabilities | (5.9) |
Deferred revenue | (4.2) |
Operating lease liabilities | (0.8) |
Total identifiable liabilities acquired | $ | (23.4) |
Net identifiable assets acquired | 38.5 |
Goodwill | $ | 34.1 |
Total net assets acquired | $ | 72.6 |
Schedule of Pro Forma Acquisition Information | The Company’s unaudited pro forma revenue and net income for the quarter and nine months ended September 30, 2023 below have been prepared as if the Indoff acquisition had occurred on January 1, 2023. This information is provided for illustrative purposes and does not purport to be indicative of the actual results that would have been achieved by the Company for the period presented (in millions):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2023
Net sales | $ | 354.6 |  |  | $ | 1,016.7 |
Net income from continuing operations | $ | 20.7 |  |  | $ | 57.1 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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