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ACQUISITION (Tables) | 12 Months Ended
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Dec. 31, 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 years ended December 31, 2023 and 2022 below have been prepared as if the Indoff acquisition had occurred on January 1, 2022. The pro forma information reflects certain adjustments related to the acquisition. 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 periods presented (in millions):
|  | Year Ended December 31,
|  | 2023 |  | 2022
Net sales |  | $ | 1,338.0 |  |  | $ | 1,347.5 |
Net income from continuing operations |  | $ | 73.3 |  |  | $ | 86.2 |
Net income per common share, diluted, from continuing operations |  | $ | 1.92 |  |  | $ | 2.26 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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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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