Goodwill |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Goodwill | Note 9. Goodwill
In 2024, the Company performed an impairment test for goodwill assigned to the Torgau facility, the reporting unit, due to ongoing weakness in lumber, pallet and biofuels markets in Europe stemming from high interest rates and other economic conditions. The fair value measurement of the reporting unit is classified as Level 3 in the fair value hierarchy as it was determined based on a discounted cash flow model which uses significant unobservable inputs, including future estimated sales volumes, selling prices and costs, capital expenditures and the discount rate. As a result of the lower revised cash flow forecast, the impairment test showed the fair value of the reporting unit was less than its carrying value and this difference was greater than the carrying value of the goodwill. Accordingly, the Company recognized an impairment against all of the goodwill in 2024. |