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Acquisitions of Businesses (Tables)

6 Months Ended

Jun. 30, 2023

Pilot Plastics [Member]

Business Acquisition [Line Items]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The measurement period remains open and future adjustments are not expected to have a material impact to the Consolidated Statements of Income.

		Adjusted Preliminary Allocation
Accounts receivable		$	970
Inventory		585
Property, plant and equipment and other assets			13,628
Accounts payable			(1,299	)
Other current liabilities			(71	)
Total identifiable net assets			13,813
Total consideration, net of cash received		$	13,813

Holplast [Member]

Business Acquisition [Line Items]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

. The final measurement period adjustments did not have a material impact to the Consolidated Statements of Income.

		Preliminary Allocation			Measurement Period Adjustments			Final Allocation
Cash		$	907		$	—		$	907
Accounts receivable			452			—			452
Inventory			285			23			308
Prepaid expenses and other current assets			7			—			7
Property, plant and equipment and other assets			1,221			1,760			2,981
Accounts payable			(283	)		(13)			(296	)
Other current liabilities			(95	)		—			(95	)
Other noncurrent liabilities			(1,119	)		(333	)		(1,452	)
Total identifiable net assets			1,375			1,437			2,812
Goodwill			3,912			(1,437	)		2,475
Total consideration, inclusive of cash and debt		$	5,287		$	—		$	5,287

Maxxweld [Member]

Business Acquisition [Line Items]

Schedule of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The final measurement period adjustments did not have a material impact to the Consolidated Statements of Income.

		Preliminary Allocation			Measurement Period Adjustments			Final Allocation
Accounts receivable		$	2,080		$	52		$	2,132
Inventory			1,291			76			1,367
Prepaid expenses and other current assets			41			—			41
Equipment and other assets			725			—			725
Other intangible assets			4,359			—			4,359
Accounts payable			(599	)		—			(599	)
Other current liabilities			(322	)		—			(322	)
Other noncurrent 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		$	—		$	11,210

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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.

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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

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