XML 258 R245.htm IDEA: XBRL DOCUMENT v3.22.2.2

FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

9 Months Ended

11 Months Ended

Jun. 30, 2022

Sep. 30, 2022

Dec. 31, 2021

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

​

​	​	​	​
(Thousands)		Westrock Private Warrants
Fair value as of January 1, 2022	​	$	—
Assumption of warrants	​	​	11,618
Change in fair value	​	​	2,590
Fair value as of September 30, 2022	​	$	14,208

CIK 0001846136 Riverview Acquisition Corp

Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

​

​	​	​	​	​	​	​	​	​
​		​		June 30,			December 31,
Description	​	Level	​	2022		​	2021
Assets:	​	​	​	​	​	​	​	​
Marketable securities held in Trust Account		1	​	$	250,257,574	​	$	250,035,732
​	​	​	​	​	​	​	​	​
Liabilities:		​	​			​
Warrant liability – Public Warrants		1	​	$	12,092,500	​	$	6,629,871
Warrant liability – Private Placement Warrants		3	​	$	7,241,640	​	$	3,933,105

​

​	​	​	​	​	​
​				December 31,
Description	​	Level	​	2021
Assets:	​	​		​
Marketable securities held in Trust Account		1	​	$	250,035,732
​	​	​	​	​	​
Liabilities:	​	​	​
Warrant liability – Public Warrants		1	​	$	6,629,871
Warrant liability – Private Placement Warrants		3	​	$	3,933,105

Level 3 Fair Value Measurements

The following table provides quantitative information regarding Level 3 fair value measurements:

​

​	​	​	​	​	​	​	​
​		June 30,			December 31,
​	​	2022		​	2021
​	​	Private Warrants		​	Private Warrants
Stock price	​	$	9.93	​	$	9.74	​
Exercise price	​	$	11.50	​	$	11.50	​
Expected term (in years)	​		5.0	​		5.0	​
Volatility	​		13.6	%		10.7	%
Risk-free rate	​		2.98	%		1.25	%
Dividend yield	​		0.0	%		0.00	%

​

​	​	​	​	​
​		August 10,
​	​	2021 (Initial
​	​	Measurement)
​	​	Public and Private
​	​	Warrants
Stock price	​	$	9.44	​
Exercise price	​	$	11.50	​
Expected term (in years)	​		5.0	​
Volatility	​		16.9	%
Risk-free rate	​		0.87	%
Dividend yield	​		0.0	%

​

​

​	​	​	​	​
​		December 31,
​	​	2021
​	​	Private Warrants
Stock price	​	$	9.74	​
Exercise price	​	$	11.50	​
Expected term (in years)	​		5.0	​
Volatility	​		10.7	%
Risk-free rate	​		1.25	%
Dividend yield	​		0.00	%

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents the changes in the fair value of Level 3 warrant liabilities:

​

​	​	​	​	​	​	​	​	​	​
​		Private			​	​		Warrant
​	​	Placement		​	Public		​	Liabilities
Fair value as of January 1, 2022	​	$	3,933,105	​	$	—	​	$	3,933,105
Change in valuation inputs or other assumptions	​		3,308,535	​		—	​		3,308,535
Fair value as of June 30, 2022	​	$	7,241,640	​	$	—	​	$	7,241,640

​

​	​	​	​	​	​	​	​	​	​
​		Private				​		Warrant
​	​	Placement		​	Public		​	Liabilities
Fair value as of February 4, 2021 (inception)	​	$	—	​	$	—	​	$	—
Initial measurement on August 10, 2021	​		6,882,000	​		11,375,000	​		18,257,000
Change in valuation inputs or other assumptions	​		(2,948,895)	​		(3,000,000)	​		(5,948,895)
Transfer to level 1	​		—	​		(8,375,000)	​		(8,375,000)
Fair value as of December 31, 2021	​	$	3,933,105	​	$	—	​	$	3,933,105

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	dei_LegalEntityAxis=wch_Cik0001846136RiverviewAcquisitionCorpMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: