Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2024

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

Schedule of Purchase Price Allocation

The purchase price allocation is preliminary. We are in the process of completing the purchase price allocation associated with the Skyland business combination and as a result, the provisional measurements of the assets and liabilities acquired are subject to change. During the measurement period, we will continue to obtain information to assist in finalizing the fair value of assets acquired and liabilities assumed, which may differ materially from these preliminary estimates. If we determine any measurement period adjustments are material, we will apply those adjustments, including any related impacts to net income, in the reporting period in which the adjustments are determined.

A summary of the preliminary purchase price consideration and preliminary purchase price allocation as of December 31, 2024, is as follows:

(in thousands)
Cash consideration paid	$	85,000
Total purchase price consideration	85,000
Cash and cash equivalents	$	65,388
Accounts receivable	47,963
Notes receivable	2,868
Inventories	220,547
Other current assets	21,396
Right of use assets	14,549
Other assets, net	1,334
Investments	12,932
Property, plant and equipment, net	136,199
	523,176
Trade and other payables	74,528
Short-term debt	218,989
Current maturities of long-term debt	11,247
Accrued expense and other current liabilities	14,099
Other liabilities	14,992
Long-term debt	58,552
	392,407
Noncontrolling interest	45,769
Net assets acquired	$	85,000

Schedule of Pro Forma Financial Information

The summary pro forma financial information for the periods presented below gives effect to the Skyland acquisition as if it had occurred at January 1, 2023.

	Year ended December 31,
(in thousands)	2024		2023
Net sales	$	11,932,528	$	15,865,304
Net income	170,592		24,858