v3.24.2.u1
Acquisitions and Divestitures (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of Preliminary Fair Value Of Assets Acquired And Measurement Period Adjustments
The Company’s initial allocation of the assets acquired and liabilities assumed in the acquisition of Inapel, as well as revised preliminary fair values reflecting adjustments made during the measurement period, are as follows:
Initial AllocationMeasurement Period AdjustmentsPreliminary Allocation
Trade accounts receivable$30,301 $(133)$30,168 
Other receivables6,088 (465)5,623 
Inventories9,269 — 9,269 
Prepaid expenses1,430 — 1,430 
Property, plant and equipment11,456 17,425 28,881 
Right of use asset - operating leases217 — 217 
Other intangible assets8,653 188 8,841 
Goodwill15,704 (7,890)7,814 
Other assets793 — 793 
Payable to suppliers(15,899)2,951 (12,948)
Accrued expenses and other(5,733)(1,350)(7,083)
Noncurrent operating lease liabilities(117)— (117)
Deferred income taxes(2,934)(5,564)(8,498)
Total purchase price, net of cash acquired$59,228 $5,162 $64,390 
Initial AllocationMeasurement Period AdjustmentsPreliminary Allocation
Trade accounts receivable$17,488 $— $17,488 
Inventories20,209 (947)19,262 
Prepaid expenses2,720 (589)2,131 
Property, plant and equipment73,483 753 74,236 
Right of use asset - operating leases34,604 290 34,894 
Other intangible assets199,560 (8,995)190,565 
Goodwill92,657 14,909 107,566 
Other assets2,465 (412)2,053 
Payable to suppliers(7,320)— (7,320)
Accrued expenses and other(15,167)(25)(15,192)
Notes payable and current portion of long-term debt(24)— (24)
Noncurrent operating lease liabilities(29,905)— (29,905)
Pension and other postretirement benefits(10,761)(768)(11,529)
Long-term debt(1,942)— (1,942)
Deferred income taxes(3,419)(2,502)(5,921)
Other long-term liabilities(3,293)1,478 (1,815)
Net assets acquired$371,355 $3,192 $374,547 
Schedule of the Purchase Consideration Transferred for the Acquisitions
The following table provides a summary of the purchase consideration (as defined under Accounting Standards Codification (“ASC”) 805) transferred for the acquisitions of the remaining interest in RTS Packaging and the Chattanooga Mill:
Purchase Consideration
Cash consideration, net of cash acquired $313,388 
Fair value of previously held interest in RTS Packaging59,472 
Final working capital adjustment452 
Settlement of preexisting relationships1,235 
Purchase consideration transferred$374,547