Business Combinations (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Combinations

For the year ended December 31, 2024 (in millions):

2024 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income
Euroview	7/29/2024	Asset	$	19.2	$	1.6	$	20.8	$	7.3	$	0.6
Insulation Supplies	10/7/2024	Asset	17.4		0.1		17.5		5.7		0.7
Tatum	11/12/2024	Share	20.4		0.6		21.0		1.7		—
Other	Various	Asset	31.6		2.8		34.4		21.3		0.7
Total			$	88.6	$	5.1	$	93.7	$	36.0	$	2.0

For the year ended December 31, 2023 (in millions):

2023 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net Income
Anchor	3/12/2023	Share	$	35.9	$	2.7	$	38.6	$	30.4	$	1.6
Other	Various	Asset	23.7		1.6		25.3		9.0		0.2
Total			$	59.6	$	4.3	$	63.9	$	39.4	$	1.8

For the year ended December 31, 2022 (in millions):

2022 Acquisitions	Date	Acquisition Type	Cash Paid		Seller Obligations		Total Purchase Price		Revenue		Net (Loss) Income
CAS	04/11/2022	Share	$	55.1	$	27.3	$	82.4	$	37.8	$	(1.0)
ABS	12/19/2022	Share	23.1		0.5		23.6		0.7		(0.1)
Other	Various	Asset/Share	35.8		3.7		39.5		22.6		0.8
Total			$	114.0	$	31.5	$	145.5	$	61.1	$	(0.3)

Schedule of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The estimated fair values of the assets acquired and liabilities assumed for the acquisitions, as well as total purchase prices and cash paid, approximated the following (in millions):

	2024
	Euroview		Insulation Supplies		Tatum		Other		Total
Estimated fair values:
Accounts receivable	$	—	$	2.3	$	1.6	$	2.0	$	5.9
Inventories	1.7		1.4		0.8		1.6		5.5
Other current assets	—		—		—		—		—
Property and equipment	0.7		0.2		0.7		3.0		4.6
Operating lease right-of-use asset	0.7		1.2		—		0.2		2.1
Intangibles	9.8		8.7		11.5		19.0		49.0
Goodwill	9.0		6.5		7.1		10.5		33.1
Other non-current assets	—		0.1		—		0.2		0.3
Accounts payable and other current liabilities	(0.7)		(1.8)		(0.7)		(2.0)		(5.2)
Other long-term liabilities	(0.4)		(1.1)		—		(0.1)		(1.6)
Fair value of assets acquired and purchase price	20.8		17.5		21.0		34.4		93.7
Less seller obligations	1.6		0.1		0.6		2.8		5.1
Cash paid	$	19.2	$	17.4	$	20.4	$	31.6	$	88.6

	2023
	Anchor		Other		Total
Estimated fair values:
Accounts receivable	$	5.0	$	2.1	$	7.1
Inventories	1.6		1.4		3.0
Other current assets	1.9		—		1.9
Property and equipment	2.3		1.9		4.2
Operating lease right-of-use asset	—		0.2		0.2
Intangibles	16.4		13.3		29.7
Goodwill	13.3		7.5		20.8
Other non-current assets	0.2		0.1		0.3
Accounts payable and other current liabilities	(2.1)		(1.1)		(3.2)
Other long-term liabilities	—		(0.1)		(0.1)
Fair value of assets acquired and purchase price	38.6		25.3		63.9
Less seller obligations	2.7		1.6		4.3
Cash paid	$	35.9	$	23.7	$	59.6

	2022
	CAS		ABS		Other		Total
Estimated fair values:
Cash	$	0.2	$	0.2	$	0.1	$	0.5
Accounts receivable	3.5		2.8		5.8		12.1
Inventories	13.4		0.9		2.5		16.8
Other current assets	0.1		0.3		0.1		0.5
Property and equipment	2.6		1.4		4.5		8.5
Operating lease right of-use-asset	0.8		—		—		0.8
Intangibles	34.9		12.8		17.4		65.1
Goodwill	32.9		9.7		11.1		53.7
Other non-current assets	—		—		0.1		0.1
Accounts payable and other current liabilities	(5.4)		(3.4)		(2.1)		(10.9)
Deferred income tax liabilities	—		(1.1)		—		(1.1)
Other long-term liabilities	(0.6)		—		—		(0.6)
Fair value of assets acquired and purchase price	82.4		23.6		39.5		145.5
Less seller obligations	27.3		0.5		3.7		31.5
Cash paid	$	55.1	$	23.1	$	35.8	$	114.0

Schedule of Estimates of Acquired Intangible Assets

Estimates of acquired intangible assets related to the acquisitions are as follows (in millions):

	2024			2023			2022
Acquired intangibles assets:	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)	Estimated Fair Value		Weighted Average Estimated Useful Life (yrs)
Customer relationships	$	33.1	12	$	19.4	12	$	45.3	12
Trademarks and trade names	13.4		15	8.4		15	16.8		15
Non-competition agreements	2.5		5	1.1		5	2.6		5
Backlog	—		0	0.8		1	0.4		1

Schedule of Pro Forma Results of Operations

The unaudited pro forma information is not necessarily indicative of the results that we would have achieved had the transactions actually taken place on January 1, 2023, 2022 and 2021 and the unaudited pro forma information does not purport to be indicative of future financial operating results (in millions, except per share data):

	December 31,
	2024		2023		2022
Net revenue	$	3,006.4	$	2,912.8	$	2,807.2
Net income	261.0		253.0		231.0
Basic net income per share	9.31		8.98		8.05
Diluted net income per share	9.26		8.94		8.00