Out Of Period Error Revision (Tables)

3 Months Ended

Mar. 31, 2022

Accounting Changes and Error Corrections [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

Balance Sheet

	December 31, 2021
(in millions)	As Previously Reported		Adjustment		As Revised
Trade receivables and contract assets, net	$	144.1	$	(2.4)	$	141.7
Inventories	303.0		(4.3)		298.7
Prepaid and refundable income taxes	19.5		1.0		20.5
Total current assets	641.7		(5.7)		636.0
Deferred income tax assets	16.0		0.2		16.2
Total assets	911.3		(5.5)		905.8
Accounts payable	83.5		(1.3)		82.2
Other current liabilities	42.9		(0.7)		42.2
Total current liabilities	225.3		(2.0)		223.3
Total liabilities	256.5		(2.0)		254.5
Retained earnings	552.8		(3.5)		549.3
Shareholders' equity	654.3		(3.5)		650.8
Total equity	654.8		(3.5)		651.3
Total liabilities and equity	911.3		(5.5)		905.8

Statement of Operations

	Three Months Ended March 31, 2021
(in millions)	As Previously Reported		Adjustment		As Revised
Cost of sales	$	215.9	$	0.3	$	216.2
Gross profit	68.5		(0.3)		68.2
Income from operations	9.8		(0.3)		9.5
Income from operations before income taxes	9.6		(0.3)		9.3
Income tax provision	0.9		(0.1)		0.8
Net income	8.7		(0.2)		8.5
Net income attributable to controlling interest	8.7		(0.2)		8.5
Per share data:
Earnings per common share - Basic	0.38		—		0.38
Earnings per common share - Diluted	0.38		0.01		0.37

	Three Months Ended June 30, 2021						Six Months Ended June 30, 2021
(in millions)	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net sales	$	278.0	$	(0.4)	$	277.6	$	562.4	$	(0.4)	$	562.0
Cost of sales	211.0		0.5		211.5		426.9		0.8		427.7
Gross profit	67.0		(0.9)		66.1		135.5		(1.2)		134.3
Income from operations	11.2		(0.9)		10.3		21.0		(1.2)		19.8
Income from operations before income taxes	11.3		(0.9)		10.4		20.9		(1.2)		19.7
Income tax provision	2.3		(0.2)		2.1		3.2		(0.3)		2.9
Net income	9.0		(0.7)		8.3		17.7		(0.9)		16.8
Net income attributable to controlling interest	9.0		(0.7)		8.3		17.7		(0.9)		16.8
Per share data:
Earnings per common share - Basic	0.40		0.04		0.36		0.78		0.04		0.74
Earnings per common share - Diluted	0.39		0.03		0.36		0.77		0.04		0.73

	Three Months Ended September 30, 2021						Nine Months Ended September 30, 2021
(in millions)	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net sales	$	267.0	$	(0.1)	$	266.9	$	829.4	$	(0.5)	$	828.9
Cost of sales	204.7		0.3		205.0		631.6		1.1		632.7
Gross profit	62.3		(0.4)		61.9		197.8		(1.6)		196.2
Income from operations	6.7		(0.4)		6.3		27.7		(1.6)		26.1
Income from operations before income taxes	6.5		(0.4)		6.1		27.4		(1.6)		25.8
Income tax provision	(2.8)		(0.1)		(2.9)		0.4		(0.4)		—
Net income	9.3		(0.3)		9.0		27.0		(1.2)		25.8
Net income attributable to controlling interest	9.3		(0.3)		9.0		27.0		(1.2)		25.8
Per share data:
Earnings per common share - Basic	0.41		0.01		0.40		1.19		0.05		1.14
Earnings per common share - Diluted	0.41		0.02		0.39		1.18		0.05		1.13

	Year Ended December 31, 2021						Year Ended December 31, 2020
(in millions)	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net sales	$	1,097.2	$	(1.7)	$	1,095.5	$	1,024.4	$	—	$	1,024.4
Cost of sales	845.5		1.0		846.5		784.3		1.2		785.5
Gross profit	251.7		(2.7)		249.0		240.1		(1.2)		238.9
Income from operations	22.1		(2.7)		19.4		43.0		(1.2)		41.8
Income from operations before income taxes	16.5		(2.7)		13.8		45.7		(1.2)		44.5
Income tax provision	(1.4)		(0.7)		(2.1)		(1.2)		(0.3)		(1.5)
Net income	17.9		(2.0)		15.9		46.9		(0.9)		46.0
Net income attributable to controlling interest	17.8		(2.0)		15.8		46.9		(0.9)		46.0
Per share data:
Earnings per common share - Basic	0.78		0.08		0.70		2.08		0.04		2.04
Earnings per common share - Diluted	0.78		0.09		0.69		2.05		0.04		2.01

Statements of Comprehensive Income

	Three Months Ended March 31, 2021
(in millions)	As Previously Reported		Adjustment		As Revised
Net income	$	8.7	$	(0.2)	$	8.5
Comprehensive income	7.9		(0.2)		7.7
Comprehensive income attributable to controlling interest	8.0		(0.2)		7.8

	Three Months Ended June 30, 2021						Six Months Ended June 30, 2021
(in millions)	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net income	$	9.0	$	(0.7)	$	8.3	$	17.7	$	(0.9)	$	16.8
Comprehensive income	13.1		(0.7)		12.4		21.0		(0.9)		20.1
Comprehensive income attributable to controlling interest	13.2		(0.7)		12.5		21.0		(0.9)		20.1

	Three Months Ended September 30, 2021						Nine Months Ended September 30, 2021
	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net income	$	9.3	$	(0.3)	$	9.0	$	27.0	$	(1.2)	$	25.8
Comprehensive income	4.8		(0.3)		4.5		25.8		(1.2)		24.6
Comprehensive income attributable to controlling interest	4.9		(0.3)		4.6		25.9		(1.2)		24.7

	Year Ended December 31, 2021						Year Ended December 31, 2020
	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net income	$	17.9	$	(2.0)	$	15.9	$	46.9	$	(0.9)	$	46.0
Comprehensive income	18.9		(2.0)		16.9		45.2		(0.9)		44.3
Comprehensive income attributable to controlling interest	18.9		(2.0)		16.9		45.2		(0.9)		44.3

Statement of Cash Flow

	Three Months Ended March 31, 2021
(in millions)	As Previously Reported		Adjustment		As Revised
Net income	$	8.7	$	(0.2)	$	8.5
Inventories	5.0		0.3		5.3
Income taxes payable/prepaid	0.9		(0.1)		0.8

	Six Months Ended June 30, 2021
(in millions)	As Previously Reported		Adjustment		As Revised
Net income	$	17.7	$	(0.9)	$	16.8
Receivables and other contract assets	(32.9)		0.4		(32.5)
Inventories	(7.4)		0.8		(6.6)
Income taxes payable/prepaid	(7.0)		(0.3)		(7.3)

	Nine Months Ended September 30, 2021
(in millions)	As Previously Reported		Adjustment		As Revised
Net income	$	27.0	$	(1.2)	$	25.8
Receivables and other contract assets	(31.3)		1.1		(30.2)
Inventories	(33.4)		1.1		(32.3)
Other accrued liabilities	10.3		(0.6)		9.7
Income taxes payable/prepaid	(5.7)		(0.4)		(6.1)

	Year Ended December 31, 2021						Year Ended December 31, 2020
	As Previously Reported		Adjustment		As Revised		As Previously Reported		Adjustment		As Revised
Net income	$	17.9	$	(2.0)	$	15.9	$	46.9	$	(0.9)	$	46.0
Receivables and other contract assets	(30.8)		2.4		(28.4)		12.2		—		12.2
Inventories	(53.8)		2.3		(51.5)		44.7		1.2		45.9
Accounts payable	30.8		(1.3)		29.5		(8.6)		—		(8.6)
Other accrued liabilities	(0.7)		(0.7)		(1.4)		9.8		—		9.8
Income taxes payable/prepaid	(13.6)		(0.7)		(14.3)		16.0		(0.3)		15.7

Statement of Equity

	As Previously Reported		Adjustment		As Revised
Balance, December 31, 2019
Retained Earnings	$	508.3	$	(0.6)	$	507.7
Total Equity	602.4		(0.6)		601.8
Balance, December 31, 2020
Retained Earnings	545.2		(1.5)		543.7
Total Equity	643.0		(1.5)		641.5
Balance, March 31, 2021
Retained Earnings	551.4		(1.7)		549.7
Total Equity	647.0		(1.7)		645.3
Balance, June 30, 2021
Retained Earnings	557.9		(2.4)		555.5
Total Equity	659.3		(2.4)		656.9
Balance, September 30, 2021
Retained Earnings	564.7		(2.7)		562.0
Total Equity	663.1		(2.7)		660.4
Balance, December 31, 2021
Retained Earnings	552.8		(3.5)		549.3
Total Equity	654.8		(3.5)		651.3