XML 36 R23.htm IDEA: XBRL DOCUMENT
v3.26.1

Acquisitions (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed | The following table summarizes the preliminary purchase price allocation for the acquisition, which is subject to change as the Company continues to evaluate the fair value of the assets acquired and liabilities assumed:
(in millions) |  | Amount
Payment to equity holders |  | $ | 68.1 |
Transaction expenses paid on behalf of the seller |  | 1.8 |
Aggregate purchase consideration |  | 69.9 |
Identifiable assets acquired: |  |
Cash, cash equivalents and restricted cash |  | 2.1 |
Inventories |  | 11.9 |
Other current assets |  | 1.1 |
Property and equipment, net |  | 14.9 |
Intangible assets, net |  | 31.1 |
Total assets acquired |  | 61.1 |
Total liabilities assumed |  | 12.9 |
Total identifiable net assets |  | 48.2 |
Goodwill |  | $ | 21.7 |
(in millions) |  | Amount
Payment to equity holders |  | $ | 176.6 |
Payment of TerraSource's outstanding debt |  | 71.9 |
Transaction expenses paid on behalf of the seller |  | 4.1 |
Aggregate purchase consideration |  | 252.6 |
Identifiable assets acquired: |  |
Cash, cash equivalents and restricted cash |  | 3.9 |
Trade receivables, contract assets and other receivables, net |  | 21.4 |
Inventories |  | 58.4 |
Other current assets |  | 10.8 |
Property and equipment, net |  | 20.4 |
Intangible assets, net |  | 127.2 |
Other long-term assets |  | 6.3 |
Total assets acquired |  | 248.4 |
Identifiable liabilities assumed: |  |
Current liabilities |  | 47.2 |
Long-term liabilities |  | 37.1 |
Total liabilities assumed |  | 84.3 |
Total identifiable net assets |  | 164.1 |
Goodwill |  | $ | 88.5 |
Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived | The following table summarizes the identifiable definite-lived intangible assets acquired. All intangible assets acquired in the CWMF acquisition are subject to amortization:
(in millions except useful lives) |  | Fair Value |  | Estimated Useful Life (in years)
Customer relationships |  | $ | 25.9 |  |  | 7
Trade names |  | 4.5 |  |  | 10
Other |  | 0.7 |  |  | 5
Total identifiable definite-lived intangible assets acquired |  | $ | 31.1 |  |  |
The following table summarizes the identifiable definite-lived intangible assets acquired. All intangible assets acquired in the TerraSource acquisition are subject to amortization:
(in millions except useful lives) |  | Fair Value |  | Estimated Useful Life (in years)
Trade names |  | $ | 7.8 |  |  | 10
Patents |  | 5.0 |  |  | 10
Customer relationships |  | 110.0 |  |  | 10
Other |  | 4.4 |  |  | 3 - 5
Total identifiable definite-lived intangible assets acquired |  | $ | 127.2 |  |  |
Schedule of Business Combination, Pro Forma Information |
(in millions) |  | Three Months Ended March 31, 2025 |  |
Revenue |  | $ | 362.8 |  |  |
Net income |  | 12.9 |  |  |

X
- Definition Tabular disclosure of pro forma revenue and earnings for business combination or aggregate of series of individually immaterial business combinations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-8 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 49 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479303/805-10-55-49 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 4: 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 5: 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
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of finite-lived intangible asset acquired in business combination. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of asset acquired and liability assumed in business combination and recognized at acquisition date. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration