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Business Acquisition (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Purchase Price Allocation | The purchase price allocation was finalized in the second quarter of 2025. There were no material measurement period adjustments recognized for the three months ended June 30, 2025. The summarized purchase price allocation 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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