Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2024

Fortemedia

Summary of Fair Value of Assets and Liabilities Related to Acquisition

The following table summarizes the preliminary purchase price allocation:

Fair value of consideration transferred	$	60,378
Estimated fair value of assets acquired:
Cash and cash equivalents		7,803
Accounts receivable		1,898
Inventories		1,845
Prepaid expenses and other current assets		2,324
Property, plant, and equipment		5,388
Intangible assets		19,000
Other long-term assets		3,799
Total assets acquired		42,057
Estimated fair value of liabilities assumed:
Accounts payable		381
Accrued liabilities and other		7,437
Income tax payable		64
Deferred taxes		412
Other long-term liabilities		9,728
Total liabilities assumed		18,022
Total identifiable net assets		24,035
Goodwill		36,343
Fair value of consideration transferred	$	60,378

Schedule of Business Combination of Revenue and Earnings in Consolidated Statement of Income

The amounts of revenue and earnings of Fortemedia included in the Company’s consolidated statement of operations from the acquisition date to the period ending December 31, 2024 are as follows:

	November 1, 2024 to
	December 31, 2024
Net sales	$	8,297
Net loss		(1,808	)

Business Acquisition, Unaudited Pro Forma Information

The following unaudited pro forma summary presents consolidated information of the Company as if the acquisition and consolidation of Fortemedia had occurred on January 1, 2023:

	Twelve Months Ended December 31,
	2024		2023
Net sales	$	1,334,446	$	1,693,230
Net income		49,465		218,815
Net income attributable to common stockholders		42,647		215,349
Earnings per share - basic	$	0.92	$	4.70
Earnings per share - diluted	$	0.92	$	4.65

South Portland Maine

Summary of Fair Value of Assets and Liabilities Related to Acquisition

The table below sets forth the fair value of the assets and liabilities recorded in the SPFAB acquisition and the corresponding line item in which the item is recorded in our condensed consolidated balance sheet.

Assets
Spare parts and inventories	$	1,257
Prepaid expenses		257
Property, plant, and equipment		77,825
Goodwill		1,069
Total assets purchased	$	80,408