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Business Acquisition (Tables) | 3 Months Ended
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Mar. 31, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Purchase Price Allocation | The purchase price allocation is preliminary. The Company is currently in the process of completing the purchase price allocation associated with the Skyland business combination and as a result, the provisional measurements of the assets and liabilities acquired are subject to change. During the measurement period, management will continue to obtain information to assist in finalizing the fair value of assets acquired and liabilities assumed, which may differ materially from these preliminary estimates. There were no material measurement period adjustments recognized for the three months ended March 31, 2025. A summary of the preliminary purchase price consideration and preliminary purchase price allocation as of March 31, 2025, is as follows:
(in thousands) |
Cash consideration paid | $ | 85,000 |
Total purchase price consideration | 85,000 |
Cash and cash equivalents | $ | 65,388 |
Accounts receivable | 47,963 |
Notes receivable | 2,868 |
Inventories | 220,547 |
Other current assets | 21,396 |
Right of use assets | 19,250 |
Other assets, net | 1,334 |
Investments | 12,932 |
Property, plant and equipment, net | 131,498 |
| 523,176 |
Trade and other payables | 74,528 |
Short-term debt | 218,989 |
Current maturities of long-term debt | 11,247 |
Accrued expense and other current liabilities | 14,099 |
Other liabilities | 14,992 |
Long-term debt | 58,552 |
| 392,407 |
Noncontrolling interest | 45,769 |
Net assets acquired | $ | 85,000 |

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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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