XML 32 R22.htm IDEA: XBRL DOCUMENT

Subsequent Events	3 Months Ended
Subsequent Events	May 03, 2025
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events ABL Facility Amendment On May 21, 2025, subsequent to the end of the first quarter of 2025, the Company amended its ABL Facility. For additional information, see Note 10, “Long-term Debt and Borrowing Facilities.” Rights Plan As previously announced, on May 19, 2025, the Board approved the adoption of a limited-duration shareholder rights plan (“Rights Plan”) intended to protect the best interests of all Company shareholders. Pursuant to the Rights Plan, the Company issued one right for each share of common stock as of the close of business on May 29, 2025. The rights will initially trade with the Company's common stock and will generally become exercisable only if any person (or any persons acting as a group) acquires 15% (or 20% for certain passive investors) or more of the outstanding common stock (the “triggering percentage”). If the rights become exercisable, all holders of rights (other than any triggering person) will be entitled to acquire shares of common stock at a 50% discount or the Company may exchange each right held by such holders for one share of common stock. Under the Rights Plan, any person that owns more than the triggering percentage as of the adoption of the Rights Plan may continue to own its shares of common stock but may not acquire any additional shares without triggering the Rights Plan. The Rights Plan has a one-year term, expiring on May 18, 2026. The Board may consider an earlier termination of the Rights Plan as circumstances warrant.