Basis of Presentation (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Summary of the Effects of Restatement Adjustments on the Consolidated Financial Statements

The impact of these corrections are shown in the tables below. Note only line items that were impacted by the Restatement Adjustments and immaterial error corrections are included below.

	Three Months Ended March 31, 2024
	As Previously Reported		Restatement Adjustments		As Restated
Cost of goods sold	$	81,469	$	73	$	81,542
Total cost of sales	98,071		73		98,144
Gross profit	26,249		(73)		26,176
Selling and administrative expenses	22,749		121		22,870
(Gain) on sale of former joint venture facility	—		(3,477)		(3,477)
Operating income	2,283		3,283		5,566
Other income - net	(3,536)		3,283		(253)

	Three Months Ended March 31, 2023
	As Previously Reported		Adjustments		As Revised
Cost of goods sold	$	78,065	$	(16)	$	78,049
Total cost of sales	92,197		(16)		92,181
Gross profit	23,291		16		23,307
Selling and administrative expenses	21,423		(6)		21,417
Operating income	503		22		525
Other expense - net	1,827		22		1,849

The Restatement Adjustments did not have an impact on the Unaudited Condensed Consolidated Balance Sheet as of March 31, 2024. However, immaterial error corrections were made to the Consolidated Balance Sheet as of December 31, 2023 in the Company’s Annual Report on Form 10-K/A as filed on November 1, 2024, as shown in the table below. Note only line items that were impacted by the immaterial error corrections are included below.

	Year Ended December 31, 2023
	As Previously Reported		Adjustments		As Revised
ASSETS
Current assets:
Inventories - net	$	73,496	$	(385)	$	73,111
Other current assets	8,961		(250)		8,711
Total current assets	167,990		(635)		167,355
Property, plant, and equipment - net	75,999		(420)		75,579
Other assets:
Other assets	2,715		250		2,965
TOTAL ASSETS	313,206		(805)		312,401
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	40,305	$	(805)	$	39,500
Total current liabilities	95,306		(805)		94,501
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	313,206		(805)		312,401

As a result of the immaterial error corrections to the Consolidated Balance Sheet as of December 31, 2023, the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2024 contained herein was adjusted as follows. Note only line items that were impacted by the immaterial error corrections are included below.

	Three Months Ended March 31, 2024
	As Previously Reported		Adjustments		As Revised
CASH FLOWS FROM OPERATING ACTIVITIES:
Inventories	$	(12,371)	$	(385)	$	(12,756)
Other current assets	(3,012)		(250)		(3,262)
Other noncurrent assets	425		250		675
Accounts payable	2,395		805		3,200
Net cash used in operating activities	(21,864)		420		(21,444)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures on property, plant, and equipment	$	(2,292)	$	(420)	$	(2,712)
Net cash provided by investing activities	1,209		(420)		789