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Acquisitions | 6 Months Ended
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Jun. 30, 2026
Business Combination [Abstract] |
Acquisitions | 3. Acquisitions EPOS Acquisition On January 30, 2026, we completed the acquisition of EPOS from Demant A/S, a leading Danish hearing healthcare company. Based in Copenhagen, Denmark, EPOS provides a comprehensive range of premium enterprise wired and wireless headsets, and other audio solutions, that build on over a century of research in psychoacoustics. The EPOS product line is designed to reduce listening fatigue, improve voice clarity and support cognitive performance. EPOS complements our global computer accessories portfolio and expands on our strategy into growing technology peripherals. For accounting purposes, the Company is the acquiring enterprise. The EPOS acquisition is being accounted for as a purchase business combination and the results of EPOS are included in both of the Company's operating business segments in our consolidated financial statements as of the acquisition date. The purchase price paid at closing was €6.5 million (US$7.8 million, based on January 30, 2026 exchange rates), plus up to an additional €3.0 million (US$3.6 million based on January 30, 2026 exchange rates) in contingent purchase price consideration. The purchase price, net of cash acquired of $6.7 million, was $1.1 million, which was less than the fair value of the identifiable net assets acquired resulting in a bargain purchase gain. The Company purchased EPOS at a significant discount as the business was operating at a consolidated loss globally. We have the infrastructure to achieve cost synergies with the integration of EPOS into our existing businesses. During the three months ended June 30, 2026, we recorded a reduction of $1.1 million to our preliminary bargain purchase gain primarily due to valuation adjustments related to inventory, intangible assets, and other assets. This reduction resulted in a preliminary gain of $36.5 million for the six months ended June 30, 2026, which was included in the Consolidated Statements of Income. The Company is continuing to obtain information necessary to finalize the valuation of certain assets and liabilities and expects to finalize the purchase price allocation during the second half of 2026. Acquisition related costs for the six months ended June 30, 2026, were $0.6 million and were reported in Other expense, net in the Company's Consolidated Statements of Income. The following table presents the allocation of the consideration given to the estimated fair values of the assets acquired and liabilities assumed at the date of the EPOS acquisition:
(in millions) |  | At January 30, 2026 |
Cash consideration |  | $ | 7.8 |
Less cash acquired |  |  | 6.7 |
Net purchase price |  | $ | 1.1 |
Fair value of contingent consideration |  | $ | 3.6 |
Plus fair value of liabilities assumed: |  |  |
Accounts payable |  |  | 7.8 |
Accrued liabilities |  |  | 14.1 |
Non-current deferred tax liabilities |  |  | 1.5 |
Fair value of liabilities assumed |  | $ | 23.4 |
Less fair value of assets acquired: |  |  |
Accounts receivable |  |  | 19.9 |
Inventory |  |  | 32.2 |
Identifiable intangibles |  |  | 3.3 |
Non-current deferred tax assets |  |  | 1.5 |
Other asset |  |  | 7.7 |
Fair value of assets acquired |  | $ | 64.6 |
Net assets acquired |  | $ | 41.2 |
Bargain purchase gain |  | $ | 36.5 |
Pro forma financial information is not presented due to immateriality.

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