XML 34 R24.htm IDEA: XBRL DOCUMENT v3.22.2.2

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Preliminary Allocation of Total Consideration of Assets Acquired and Liabilities Assumed

The table below summarizes the preliminary estimates of fair value of identifiable assets acquired and liabilities assumed in the Acquisition and the revisions made in the third quarter of 2022. These preliminary estimates of the fair value are subject to additional revisions, which may result in additional adjustments to the values presented below.

(in thousands)			October 22, 2021			Revisions			September 30, 2022
Cash and cash equivalents			$	1,533					$	1,533
Accounts receivable, net of allowance for credit losses of $118			5,358						5,358
Inventories, net			1,561						1,561
Prepaid expenses and other current assets			454						454
Property, plant and equipment, net			15,697			$	1,594		17,291
Right of use asset, operating leases, net			208						208
Intangible assets, net			5,750						5,750
Total identifiable assets acquired			$	30,561		$	1,594		$	32,155
Accounts payable			$	1,751					$	1,751
Accrued expenses and other current liabilities			1,622						1,622
Current portion of operating lease liabilities			51						51
Current portion of finance lease liabilities			215						215
Deferred income taxes			2,542			$	387		2,929
Long-term portion of operating lease liabilities			157						157
Long-term portion of finance lease liabilities			1,408						1,408
Total identifiable liabilities assumed			$	7,746		$	387		$	8,133
Net identifiable assets acquired			$	22,815		$	1,207		$	24,022
Transaction price			34,097						34,097
Goodwill			$	11,282		$	(1,207)		$	10,075

Schedule of Business Acquisitions, by Acquisition

Total net sales and operating loss for DanChem for the three and nine months ended September 30, 2022 were as follows:

(in thousands)			Three Months Ended September 30, 2022			Nine Months Ended September 30, 2022
Net sales			$	8,306		$	24,167
Operating loss			$	(728)		$	(286)

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

+ Details

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

X

- 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

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