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Acquisitions of Businesses (Tables) | 6 Months Ended
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Jun. 30, 2022
Maxxweld [Member] |
Business Acquisition [Line Items] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The table below summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed on the acquisition date, as well as measurement period adjustments recorded as of June 30, 2022. These estimates will continue to be revised during the measurement period as further information becomes available and additional analyses are performed. The current measurement period adjustments did not have a material impact to the Consolidated Statements of Income.
|  | Preliminary Allocation |  | Measurement Period Adjustments |  | Adjusted Preliminary Allocation |
Accounts receivable |  | $ | 2,080 |  | $ | 52 |  | $ | 2,132 |
Inventory |  |  | 1,291 |  |  | 76 |  |  | 1,367 |
Prepaid expenses and other current assets |  |  | 41 |  |  | 0 |  |  | 41 |
Equipment and other assets |  |  | 725 |  |  | 0 |  |  | 725 |
Other intangible assets |  |  | 4,359 |  |  | 0 |  |  | 4,359 |
Accounts payable |  |  | (599 | ) |  | 0 |  |  | (599 | )
Other current liabilities |  |  | (322 | ) |  | 0 |  |  | (322 | )
Other non-current liabilities |  |  | (1,560 | ) |  | (1 | ) |  | (1,561 | )
Total identifiable net assets |  |  | 6,015 |  |  | 127 |  |  | 6,142 |
Goodwill |  |  | 5,195 |  |  | (127 | ) |  | 5,068 |
Total consideration, net of cash received |  | $ | 11,210 |  | $ | 0 |  | $ | 11,210 |
Holplast [Member] |
Business Acquisition [Line Items] |
Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The table below summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed on the acquisition date, as well as measurement period adjustments recorded as of June 30, 2022. These estimates will continue to be revised during the measurement period as further information becomes available and additional analyses are performed. The current measurement period adjustments did not have a material impact to the Consolidated Statements of Income.
|  | Preliminary Allocation |  | Measurement Period Adjustments |  | Adjusted Preliminary Allocation |
Cash |  | $ | 907 |  |  | 0 |  | $ | 907 |
Accounts receivable |  |  | 452 |  |  | 0 |  |  | 452 |
Inventory |  |  | 285 |  |  | 31 |  |  | 316 |
Prepaid expenses and other current assets |  |  | 7 |  |  | 0 |  |  | 7 |
Property, plant and equipment and other assets |  |  | 1,221 |  |  | 1,760 |  |  | 2,981 |
Accounts payable |  |  | (283 | ) |  | 0 |  |  | (283 | )
Other current liabilities |  |  | (95 | ) |  | 0 |  |  | (95 | )
Other non-current liabilities |  |  | (1,119 | ) |  | (334 | ) |  | (1,453 | )
Total identifiable net assets |  |  | 1,375 |  |  | 1,457 |  |  | 2,832 |
Goodwill |  |  | 3,912 |  |  | (1,457 | ) |  | 2,455 |
Total consideration, inclusive of cash and debt |  | $ | 5,287 |  | $ | 0 |  | $ | 5,287 |

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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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