Acquisition (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

(Thousands)	Initial Allocation of Consideration		Measurement Period Adjustments		Final Allocation
Assets:
Cash and cash equivalents	$	3,685	$	—	$	3,685
Accounts receivable	28,352		35		28,387
Inventories	70,681		—		70,681
Prepaid and other current assets	660		(450)		210
Property, plant, and equipment	44,681		355		45,036
Operating lease, right-of-use assets	6,120		—		6,120
Intangible assets	107,800		—		107,800
Other long-term assets	4,528		—		4,528
Goodwill	178,181		3,144		181,325
Total assets acquired	$	444,688	$	3,084	$	447,772
Liabilities:
Accounts payable	$	12,139	$	(240)	$	11,899
Salaries and wages	2,516		$	625	3,141
Other liabilities and accrued items	28		$	—	28
Income taxes	2,183		$	(457)	1,726
Other long-term liabilities	5,543		$	215	5,758
Operating lease liabilities	6,042		$	—	6,042
Deferred income taxes	20,300		$	(30)	20,270
Total liabilities assumed	$	48,751	$	113	$	48,864
Net assets acquired	$	395,937	$	2,971	$	398,908

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The following table reports the intangible assets by asset category as of the closing date:

(Thousands)	Value at Acquisition		Useful Life
Customer relationships	$	50,200	13 years
Technology	35,300		13 years
Trade name	22,300		15 years
Total	$	107,800

Pro Forma Information

Had the HCS-Electronic Materials acquisition occurred as of the beginning of fiscal 2020, the Company's sales and income (loss) before taxes would have been as follows:

	(Unaudited)
	Year Ended December 31,
	2021		2020
Net Sales	$	1,659,620	$	1,308,300
Profit income (loss) before taxes	$	91,551	$	(17,761)