Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The carrying value of the assets and liabilities held in discontinued operations were as follows (dollars in thousands):

	December 31, 2025
Assets
Current assets:
Receivables, net	$	60,460
Inventories	113,950
Prepaid expenses and other current assets	1,870
Total current assets	176,280
Property and equipment, net	90,780
Operating lease right-of-use assets	10,360
Goodwill	86,960
Other intangibles, net	77,530
Other assets	1,540
Total assets	$	443,450
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	16,370
Accrued liabilities	25,000
Lease liabilities, current portion	6,280
Total current liabilities	47,650
Lease liabilities	4,540
Deferred income taxes	6,160
Other long-term liabilities	590
Total liabilities	$	58,940

Results of discontinued operations are summarized as follows (dollars in thousands):

	Three months ended March 31,
	2026		2025
Net sales	$	83,920	$	89,210
Cost of sales	(59,850)		(65,010)
Gross profit	24,070		24,200
Selling, general and administrative expenses	(12,710)		(9,570)
Net gain on dispositions of assets	1,040,000		—
Operating profit	1,051,360		14,630
Other expense, net	(2,180)		(60)
Income from discontinued operations, before income taxes	1,049,180		14,570
Income tax expense	(196,590)		(4,090)
Income from discontinued operations, net of tax	$	852,590	$	10,480

The depreciation, amortization, capital expenditures, and significant cash flow items of the discontinued operations were as follows (dollars in thousands):

	Three months ended March 31,
	2026		2025
Cash flows from discontinued operating activities:
Depreciation	$	2,200	$	2,000
Amortization of intangible assets	2,690		2,600
Net gain on dispositions of assets	(1,040,000)		—
Non-cash compensation expense	(90)		440
Cash flows from discontinued investing activities:
Capital expenditures	$	(2,820)	$	(2,490)
Acquisition of businesses, net of cash acquired	—		(37,160)