Mergers, Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Calculation of Total Consideration Paid

The calculation of the total consideration paid follows:

	Consideration
Common shares purchased	65,613,349
Common share closing price	$	24.65
Merger consideration, common shares purchased	$	1,617,369
Effective settlement of pre-existing relationships(1)	128,721
Total Merger consideration	1,746,090
Fair value of common shares previously held by CD&R and other adjustments(2)	1,526,591
Total equity value	$	3,272,681

(1)    Consists mainly of employee share-based compensation awards that were outstanding at that time the Merger was consummated.

(2)    Consists of 61.9 million common shares, with shares rolled over or acquired by Camelot Parent.

Schedule of Fair Value of Net Assets Acquired

The following table summarizes the fair value of net assets acquired:

	Fair Value
Merger consideration	$	1,746,090
Fair value of common shares previously held by CD&R and other adjustments	1,526,591
Total equity value	$	3,272,681
Cash and cash equivalent	$	1,087,586
Accounts receivable	793,858
Inventories	767,460
Property, plant and equipment	873,167
Lease right-of-use assets	275,050
Goodwill	1,599,327
Intangible assets	2,436,000
Other assets	119,920
Total assets acquired	7,952,368
Accounts payable	329,896
Accrued liabilities	634,915
Long-term debt	2,467,210
Lease liabilities	252,262
Deferred income tax liabilities	706,768
Other liabilities	288,636
Total liabilities assumed	4,679,687
Net assets acquired	$	3,272,681

The following table summarizes the final fair value of net assets acquired:

	Fair Value
Cash	$	19,594
Accounts receivable	20,515
Inventories	66,420
Property, plant and equipment	24,184
Lease right of use assets	37,964
Trade name and customer relationship intangibles	97,560
Goodwill	63,933
Other assets	1,466
Total assets acquired	331,636
Accounts payable and other liabilities assumed	57,163
Lease liabilities	37,964
Deferred income taxes	22,310
Total liabilities assumed	117,437
Net assets acquired	$	214,199

The following table summarizes the final fair value of net assets acquired:

	Fair Value
Cash	$	2,838
Accounts receivable	16,956
Inventories	15,392
Property, plant and equipment	18,300
Lease right of use assets	21,849
Trade name and customer relationship intangibles	137,660
Goodwill	110,417
Other assets	2,556
Total assets acquired	325,968
Accounts payable and other liabilities assumed	34,861
Lease liabilities	20,173
Deferred income taxes	33,221
Total liabilities assumed	88,255
Net assets acquired	$	237,713

The following table summarizes the final fair value of net assets acquired:

	Fair Value
Cash	$	997
Accounts receivable	5,500
Inventories	4,446
Prepaid expenses and other current assets	823
Property, plant and equipment	2,500
Lease right of use assets	2,787
Trade name and customer relationship intangibles	51,600
Goodwill	33,148
Other assets	50
Total assets acquired	101,851
Accounts payable	1,676
Other accrued expenses	1,679
Lease liabilities	2,637
Other long-term liabilities	829
Total liabilities assumed	6,821
Net assets acquired	$	95,030

Summary of Nonrecurring Adjustments

The table below presents the Consolidated Statements of (Loss) Income line items impacted by the aforementioned adjustments for previously reported periods.

	Increase / (Decrease) due to Depreciation and Amortization
Consolidated Statements of (Loss) Income Line Item	July 25, 2022 through December 31, 2022		Three Months Ended  April 1, 2023		Cumulative Catch-Up Recorded During Three Months Ended July 1, 2023
Cost of sales	$	38,852	$	26,303	$	65,155
Gross profit	$	(38,852)	$	(26,303)	$	(65,155)
Selling, general and administrative expenses	$	(1,632)	$	2,963	$	1,331
Income (loss) from operations	$	(37,220)	$	(29,266)	$	(66,486)

Schedule of Allocation of Goodwill by the Reportable Segments

The following table sets forth the allocation of goodwill by the Company’s reportable segments as of the date of the Merger:

Aperture Solutions		Surface Solutions		Shelter Solutions		Total Goodwill
$	714,394	$	681,822	$	203,111	$	1,599,327

The following table sets forth the changes in the carrying amount of goodwill by reportable segment:

	Aperture Solutions		Surface Solutions		Shelter Solutions		Total
Balance, December 31, 2021 (Predecessor)	$	541,196	$	655,098	$	161,762	$	1,358,056
Currency translation	(750)		(561)		—		(1,311)
Measurement period adjustments	(366)		(10)		(97,474)		(97,850)
Balance, July 24, 2022 (Predecessor)	$	540,080	$	654,527	$	64,288	$	1,258,895
Balance, July 25, 2022 (Successor)	$	612,368	$	763,324	$	284,796	$	1,660,488
Measurement period adjustments	14,527		29,288		(10,709)		33,106
Currency translation	(2,886)		(2,160)		—		(5,046)
Balance, December 31, 2022 (Successor)	$	624,009	790,452		274,087		1,688,548
Go private measurement period adjustments	90,385		(108,630)		(70,976)		(89,221)
Acquisition related measurement period adjustments and other (1)	58,520		27,065		(903)		84,682
Currency translation	(1,781)		(464)		—		(2,245)
Balance, December 31, 2023 (Successor)	$	771,133	$	708,423	$	202,208	$	1,681,764

(1)Measurement period adjustments have been recorded in conjunction with the acquisition of MAC Metal and EAS during the period. See Note 3 — Mergers and Acquisitions for additional information.

Schedule of Provisional Fair Value and Weighted Average Estimated Useful Life of Identifiable Intangible Assets

The fair value and weighted average estimated useful life of identifiable intangible assets consists of the following:

	Fair Value		Weighted Average Useful Life (in years)
Customer lists and relationships	$	1,816,000	17
Trademarks, trade names and other	620,000		15
Total	$	2,436,000