v3.25.3
Unaudited Quarterly Financial Data - Consolidated Balance Sheets (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Dec. 31, 2021
Dec. 02, 2019
Nov. 20, 2019
Mar. 13, 2018
Jun. 28, 2017
Current assets:                                  
Cash and cash equivalents $ 446,616 $ 52,675 $ 59,659 $ 64,938 $ 61,456 $ 59,505 $ 56,793 $ 58,854 $ 45,880 $ 50,617 $ 94,054 $ 87,014          
Accounts receivable, net 185,237 203,677 207,172 218,937 190,301 193,088 206,365 179,005 189,106 229,242 204,804 197,235          
Inventories, net 522,509 561,450 571,248 557,451 535,204 534,353 571,239 592,112 581,596 555,853 537,960 480,751          
Prepaid expenses and other current assets 77,769 53,307 126,692 102,707 98,544 76,535 66,121 59,715 51,540 59,666 50,869 37,139          
Assets, Current 1,269,046 1,014,647 964,771 982,487 926,220 901,815 1,010,754 987,038 988,470 1,031,751 999,628 925,730          
Property, plant and equipment, net 191,283 183,397 244,746 185,126 179,770 190,730 185,339 188,075 187,198 171,317 167,217 164,276          
Goodwill 773,569 863,774 895,916 876,050 875,650 895,167 830,403 862,971 863,774 928,466 586,258 588,519 $ 585,972        
Intangible assets, net 808,344 891,266 983,396 955,948 979,139 1,032,898 830,111 850,358 870,813 856,656 620,138 633,979          
Assets 3,325,141 3,493,405 3,297,422 3,265,997 3,233,259 3,292,418 3,349,056 3,377,281 3,378,294 3,542,358 2,916,563 2,854,915          
Current liabilities:                                  
Accounts payable 90,708 77,085 103,239 94,117 94,593 82,042 93,609 78,408 70,548 86,444 94,170 81,450          
Accrued expenses 237,817 232,648 318,476 301,163 267,974 250,829 237,347 225,119 240,949 242,566 207,137 190,646          
Other current liabilities 34,812 33,957 49,617 36,621 36,427 35,800 33,268 33,825 35,776 35,720 30,351 30,772          
Liabilities, Current 2,160,968 457,045 2,433,423 2,386,988 2,280,443 2,225,885 2,285,685 2,213,285 460,778 469,180 421,867 390,423          
Deferred income taxes 103,264 119,057 108,091 118,539 121,098 125,343 107,320 113,105 116,018 109,364 48,261 50,349          
Long-term debt (refer to Note I) 0 1,824,468 0 0 0 0 0 0 1,675,571 1,784,365 1,285,747 1,285,304          
Other non-current liabilities 203,207 139,072 225,334 197,848 204,066 202,006 156,236 150,298 150,998 126,588 114,981 105,730          
Liabilities $ 2,468,716 $ 2,564,468 $ 2,766,848 $ 2,705,996 $ 2,607,895 $ 2,552,147 $ 2,556,239 $ 2,482,412 $ 2,408,785 $ 2,522,650 $ 1,904,156 $ 1,867,173          
Stockholders’ equity                                  
Preferred Stock, Shares Outstanding 12,600,000 12,600,000 17,497,000 13,725,000 13,011,000 12,634,000 12,600,000 12,600,000 12,600,000 12,600,000 12,600,000 12,600,000          
Preferred Stock, Shares Issued 12,600,000 12,600,000 17,497,000 13,725,000 13,011,000 12,634,000 12,600,000 12,600,000 12,600,000 12,600,000 12,600,000 12,600,000          
Trust shares, par value (in dollars per share) $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0          
Trust shares, issued (in shares) 75,753,000 72,203,000 76,135,000 76,135,000 75,958,000 75,807,000 72,203,000 71,896,000 71,993,000 72,203,000 71,268,000 69,450,000          
Trust shares, authorized (in shares) 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000 500,000,000          
Treasury Stock, Common, Value $ (9,339) $ 0 $ (18,910) $ (9,339) $ (9,339) $ (9,339) $ (7,389) $ (5,856) $ (3,954)                
Preferred Stock, Value, Issued       $ 330,862 $ 313,721 $ 304,745 $ 303,918 $ 303,918 $ 303,918 $ 303,918 $ 303,918 $ 303,918          
Trust shares, outstanding (in shares) 75,270,000 72,203,000 75,236,000 75,652,000 75,476,000 75,234,000 71,820,000 71,896,000 71,993,000 72,203,000 71,268,000 69,450,000          
Prepaid expenses and other current assets $ 77,769 $ 53,307 $ 126,692 $ 102,707 $ 98,544 $ 76,535 $ 66,121 $ 59,715 $ 51,540 $ 59,666 $ 50,869 $ 37,139          
Current assets of discontinued operations 36,915 143,538 0 38,454 40,715 38,334 110,236 97,352 120,348 136,373 111,941 123,591          
Deferred Revenue 7,350 7,093 8,284                            
Due to related parties 16,025 15,495 18,036 18,116 17,928 17,202 17,230 15,402 15,034 14,993 13,501 13,099          
Debt, Current 1,671,879 10,000 1,774,290 1,776,187 1,722,084 1,715,982 1,785,776 1,767,673 10,000 10,000 0 0          
Other Assets 195,016 161,857 208,593 182,519 187,367 185,923 176,060 170,787 173,201 151,246 136,592 131,802          
Disposal Group, Including Discontinued Operation, Assets, Noncurrent, Total 87,883 378,464 0 83,867 85,113 85,885 316,389 318,052 294,838 402,922 406,730 410,609          
Current liabilities of discontinued operations 8,986 39,700 0 9,726 10,911 11,125 32,756 26,799 26,217 33,480 36,594 38,410          
Non-current liabilities of discontinued operations 1,277 24,826 0 2,621 2,288 (1,087) 6,998 5,724 5,420 33,153 33,300 35,367          
Noncontrolling interest (89,991) 13,762 (148,046) (128,554) (102,671) (76,126) (33,041) (11,229) 1,760 32,266 3,098 8,629          
Stockholders' Equity Attributable to Noncontrolling Interest, Discontinued Operations 16,756 37,598 0 16,331 16,691 16,679 43,740 42,379 37,364 38,837 36,891 35,040          
Total stockholders’ equity attributable to Holdings $ 929,660 $ 877,577 $ 678,620 $ 672,224 $ 711,344 $ 799,718 $ 782,118 $ 863,719 $ 930,385 $ 948,605 $ 972,418 $ 944,073          
Preferred Stock, Shares Authorized 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000          
Trust common shares, no par value, 500,000 authorized; 76,135 shares issued and 75,236 shares outstanding at December 31, 2024, 75,753 shares issued and 75,270 outstanding at December 31, 2023 and 72,203 shares issued and outstanding at December 31, 2022 $ 1,281,303 $ 1,207,044 $ 1,289,010 $ 1,289,348 $ 1,285,796 $ 1,282,521 $ 1,206,917 $ 1,206,953 $ 1,206,996 $ 1,207,082 $ 1,185,348 $ 1,143,354          
Accumulated other comprehensive income (loss) 3 (1,136) (5,337) (3,149) (4,628) (2,002) (1,080) 282 (414) (2,593) (665) (228)          
Accumulated deficit (646,225) (632,249) (1,004,975) (935,498) (874,206) (776,207) (720,248) (641,578) (576,161) (559,802) (516,183) (502,971)          
Total stockholders’ equity 856,425 928,937 530,574 560,001 625,364 740,271 792,817 894,869 969,509 1,019,708 1,012,407 987,742 1,011,148        
Liabilities and Equity 3,325,141 3,493,405 3,297,422 3,265,997 3,233,259 3,292,418 3,349,056 3,377,281 3,378,294 3,542,358 2,916,563 2,854,915          
Subsidiary financing arrangements 100,741 48,160 169,765 151,058 130,526 112,905 85,699 66,059 62,254 45,977 40,114 36,046          
Lugano                                  
Current assets:                                  
Goodwill 0 0 0                   $ 23,328        
Stockholders’ equity                                  
Noncontrolling interest $ (160,441) $ (90,715) $ (268,595)                            
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration] Operating income Operating income                              
Series A Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Shares Outstanding 4,000,000   4,551,000                            
Preferred Stock, No Par Value $ 0 $ 0 $ 0                            
Preferred Stock, Shares Issued 4,000,000 4,000,000 4,551,000                           4,000,000
Preferred Stock, Value, Issued $ 96,417 $ 96,417 $ 109,159                            
Series B Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Shares Outstanding 4,000,000   6,192,000                            
Preferred Stock, No Par Value $ 0 $ 0 $ 0                            
Preferred Stock, Shares Issued 4,000,000 4,000,000 6,192,000                         4,000,000  
Preferred Stock, Value, Issued $ 96,504 $ 96,504 $ 147,906                            
Series C Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Shares Outstanding 4,600,000   6,754,000                            
Preferred Stock, No Par Value $ 0 $ 0 $ 0                            
Preferred Stock, Shares Issued 4,600,000 4,600,000 6,754,000                     600,000 4,000,000    
Preferred Stock, Value, Issued $ 110,997 $ 110,997 $ 161,767                            
As Reported                                  
Current assets:                                  
Cash and cash equivalents 446,684 52,743 59,727 65,006 61,524 59,573 56,861 58,922 45,948 50,685 94,122 87,082          
Accounts receivable, net 308,183 288,901 444,386 402,024 344,515 328,230 310,687 269,596 280,605 278,496 242,675 225,432          
Inventories, net 723,194 657,494 962,408 925,146 830,235 772,701 745,607 732,600 704,826 658,158 643,255 575,435          
Prepaid expenses and other current assets 88,844 67,509 101,129 93,917 119,572 119,760 92,046 88,701 56,891 70,838 57,101 58,335          
Assets, Current 1,603,820 1,210,185 1,567,650 1,524,547 1,396,561 1,318,598 1,315,437 1,247,171 1,208,618 1,194,550 1,149,094 1,069,875          
Property, plant and equipment, net 191,283 183,397 244,746 185,126 179,770 190,730 185,339 188,075 187,198 171,317 167,217 164,276          
Goodwill 859,907 950,111 982,253 962,386 961,987 981,503 916,740 949,308 950,111 991,475 649,268 651,528          
Intangible assets, net 879,078 965,624 1,049,186 1,022,974 1,047,401 1,102,396 900,854 922,306 943,966 929,787 694,438 709,446          
Assets 3,816,981 3,849,631 4,052,422 3,961,414 3,858,194 3,865,029 3,810,812 3,795,693 3,757,925 3,841,297 3,203,333 3,137,529          
Current liabilities:                                  
Accounts payable 91,089 80,447 104,304 93,506 91,831 79,997 89,819 81,900 73,814 88,281 95,520 83,270          
Accrued expenses 151,443 180,233 197,829 190,751 167,191 168,832 171,246 162,948 184,030 194,416 170,545 171,384          
Other current liabilities 34,812 33,957 49,617 36,621 36,427 35,800 33,268 33,825 35,776 35,720 30,351 30,772          
Liabilities, Current 312,355 359,832 384,786 361,220 334,288 322,956 354,319 330,874 344,871 376,890 346,511 336,935          
Deferred income taxes 118,882 139,471 119,948 134,157 136,716 140,961 127,734 133,519 136,432 128,318 67,948 70,765          
Long-term debt (refer to Note I) 1,661,879 1,824,468 1,759,290 1,763,687 1,712,084 1,705,982 1,775,776 1,757,673 1,675,571 1,784,365 1,285,747 1,285,304          
Other non-current liabilities 203,207 139,072 225,334 197,848 204,066 202,006 156,236 150,298 150,998 126,588 114,981 105,730          
Liabilities 2,297,600 2,487,669 2,489,358 2,459,533 2,389,442 2,370,818 2,421,063 2,378,088 2,313,292 2,449,314 1,848,487 1,834,101          
Stockholders’ equity                                  
Treasury Stock, Common, Value (9,339)   (18,910) (9,339) (9,339) (9,339) (7,389) (5,856) (3,954)                
Preferred Stock, Value, Issued       330,862 313,721 304,745 303,918 303,918 303,918 303,918 303,918 303,918          
Prepaid expenses and other current assets 88,844 67,509 101,129 93,917 119,572 119,760 92,046 88,701 56,891 70,838 57,101 58,335          
Current assets of discontinued operations 36,915 143,538   38,454 40,715 38,334 110,236 97,352 120,348 136,373 111,941 123,591          
Due to related parties 16,025 15,495 18,036 18,116 17,928 17,202 17,230 15,402 15,034 14,993 13,501 13,099          
Debt, Current 10,000 10,000 15,000 12,500 10,000 10,000 10,000 10,000 10,000 10,000 0 0          
Other Assets 195,010 161,850 208,587 182,514 187,362 185,917 176,053 170,781 173,194 151,246 136,586 131,795          
Disposal Group, Including Discontinued Operation, Assets, Noncurrent, Total 87,883 378,464   83,867 85,113 85,885 316,389 318,052 294,838 402,922 406,730 410,609          
Current liabilities of discontinued operations 8,986 39,700   9,726 10,911 11,125 32,756 26,799 26,217 33,480 36,594 38,410          
Non-current liabilities of discontinued operations 1,277 24,826   2,621 2,288 (1,087) 6,998 5,724 5,420 33,153 33,300 35,367          
Noncontrolling interest 175,875 187,444 266,271 248,585 235,557 226,261 206,429 198,436 192,328 181,581 140,446 135,246          
Stockholders' Equity Attributable to Noncontrolling Interest, Discontinued Operations 16,756 37,598   16,331 16,691 16,679 43,740 42,379 37,364 38,837 36,891 35,040          
Total stockholders’ equity attributable to Holdings 1,326,750 1,136,920 1,296,793 1,236,965 1,216,504 1,251,271 1,139,580 1,176,790 1,214,941 1,171,565 1,177,509 1,133,142          
Trust common shares, no par value, 500,000 authorized; 76,135 shares issued and 75,236 shares outstanding at December 31, 2024, 75,753 shares issued and 75,270 outstanding at December 31, 2023 and 72,203 shares issued and outstanding at December 31, 2022 1,281,303 1,207,044 1,289,010 1,289,348 1,285,796 1,282,521 1,206,917 1,206,953 1,206,996 1,207,082 1,185,348 1,143,354          
Accumulated other comprehensive income (loss) 111 (1,136) (5,815) (1,541) (4,503) (1,961) (1,186) 282 (414) (2,593) (665) (228)          
Accumulated deficit (249,243) (372,906) (386,324) (372,365) (369,171) (324,695) (362,680) (328,507) (291,605) (336,842) (311,092) (313,902)          
Total stockholders’ equity 1,519,381 1,361,962 1,563,064 1,501,881 1,468,752 1,494,211 1,389,749 1,417,605 1,444,633 1,391,983 1,354,846 1,303,428          
Liabilities and Equity 3,816,981 3,849,631 4,052,422 3,961,414 3,858,194 3,865,029 3,810,812 3,795,693 3,757,925 3,841,297 3,203,333 3,137,529          
Subsidiary financing arrangements 0 0 0 0 0 0 0 0 0 0 0 0          
As Reported | Series A Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Value, Issued 96,417 96,417 109,159                            
As Reported | Series B Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Value, Issued 96,504 96,504 147,906                            
As Reported | Series C Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Value, Issued 110,997 110,997 161,767                            
Adjustments | Restatements From Unrecorded Financing Arrangements                                  
Current assets:                                  
Cash and cash equivalents (68) (68) (68) (68) (68) (68) (68) (68) (68) (68) (68) (68)          
Accounts receivable, net (122,946) (85,224) (237,214) (183,087) (154,214) (135,142) (104,322) (90,591) (91,499) (49,254) (37,871) (28,197)          
Inventories, net (200,685) (96,044) (391,160) (367,695) (295,031) (238,348) (174,368) (140,488) (123,230) (102,305) (105,295) (94,684)          
Prepaid expenses and other current assets (11,075) (14,202) 25,563 8,790 (21,028) (43,225) (25,925) (28,986) (5,351) (11,172) (6,232) (21,196)          
Assets, Current (334,774) (195,538) (602,879) (542,060) (470,341) (416,783) (304,683) (260,133) (220,148) (162,799) (149,466) (144,145)          
Property, plant and equipment, net 0 0 0 0 0 0 0 0 0 0 0 0          
Goodwill (86,338) (86,337) (86,337) (86,336) (86,337) (86,336) (86,337) (86,337) (86,337) (63,009) (63,010) (63,009)          
Intangible assets, net (70,734) (74,358) (65,790) (67,026) (68,262) (69,498) (70,743) (71,948) (73,153) (73,131) (74,300) (75,467)          
Assets (491,840) (356,226) (755,000) (695,417) (624,935) (572,611) (461,756) (418,412) (379,631) (298,939) (286,770) (282,614)          
Current liabilities:                                  
Accounts payable (381) (3,362) (1,065) 611 2,762 2,045 3,790 (3,492) (3,266) (1,837) (1,350) (1,820)          
Accrued expenses 86,374 52,415 120,647 110,412 100,783 81,997 66,101 62,171 56,919 48,150 36,592 19,262          
Other current liabilities 0 0 0 0 0 0 0 0 0 0 0 0          
Liabilities, Current 1,848,613 97,213 2,048,637 2,025,768 1,946,155 1,902,929 1,931,366 1,882,411 115,907 92,290 75,356 53,488          
Deferred income taxes (15,618) (20,414) (11,857) (15,618) (15,618) (15,618) (20,414) (20,414) (20,414) (18,954) (19,687) (20,416)          
Long-term debt (refer to Note I) (1,661,879) 0 (1,759,290) (1,763,687) (1,712,084) (1,705,982) (1,775,776) (1,757,673) 0 0 0 0          
Other non-current liabilities 0 0 0 0 0 0 0 0 0 0 0 0          
Liabilities 171,116 76,799 277,490 246,463 218,453 181,329 135,176 104,324 95,493 73,336 55,669 33,072          
Stockholders’ equity                                  
Treasury Stock, Common, Value 0   0 0 0 0 0 0 0                
Preferred Stock, Value, Issued       0 0 0 0 0 0 0 0 0          
Prepaid expenses and other current assets (11,075) (14,202) 25,563 8,790 (21,028) (43,225) (25,925) (28,986) (5,351) (11,172) (6,232) (21,196)          
Current assets of discontinued operations 0 0   0 0 0 0 0 0 0 0 0          
Due to related parties 0 0 0 0 0 0 0 0 0 0 0 0          
Debt, Current 1,661,879 0 1,759,290 1,763,687 1,712,084 1,705,982 1,775,776 1,757,673 0 0 0 0          
Other Assets 6 7 6 5 5 6 7 6 7 0 6 7          
Disposal Group, Including Discontinued Operation, Assets, Noncurrent, Total 0 0   0 0 0 0 0 0 0 0 0          
Current liabilities of discontinued operations 0 0   0 0 0 0 0 0 0 0 0          
Non-current liabilities of discontinued operations 0 0   0 0 0 0 0 0 0 0 0          
Noncontrolling interest (265,866) (173,682) (414,317) (377,139) (338,228) (302,387) (239,470) (209,665) (190,568) (149,315) (137,348) (126,617)          
Stockholders' Equity Attributable to Noncontrolling Interest, Discontinued Operations 0 0   0 0 0 0 0 0 0 0 0          
Total stockholders’ equity attributable to Holdings (397,090) (259,343) (618,173) (564,741) (505,160) (451,553) (357,462) (313,071) (284,556) (222,960) (205,091) (189,069)          
Trust common shares, no par value, 500,000 authorized; 76,135 shares issued and 75,236 shares outstanding at December 31, 2024, 75,753 shares issued and 75,270 outstanding at December 31, 2023 and 72,203 shares issued and outstanding at December 31, 2022 0 0 0 0 0 0 0 0 0 0 0 0          
Accumulated other comprehensive income (loss) (108) 0 478 (1,608) (125) (41) 106 0 0 0 0 0          
Accumulated deficit (396,982) (259,343) (618,651) (563,133) (505,035) (451,512) (357,568) (313,071) (284,556) (222,960) (205,091) (189,069)          
Total stockholders’ equity (662,956) (433,025) (1,032,490) (941,880) (843,388) (753,940) (596,932) (522,736) (475,124) (372,275) (342,439) (315,686)          
Liabilities and Equity (491,840) (356,226) (755,000) (695,417) (624,935) (572,611) (461,756) (418,412) (379,631) (298,939) (286,770) (282,614)          
Subsidiary financing arrangements 100,741 48,160 169,765 $ 151,058 $ 130,526 $ 112,905 $ 85,699 $ 66,059 $ 62,254 $ 45,977 $ 40,114 $ 36,046          
Adjustments | Restatements From Unrecorded Financing Arrangements | Series A Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Value, Issued 0 0 0                            
Adjustments | Restatements From Unrecorded Financing Arrangements | Series B Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Value, Issued 0 0 0                            
Adjustments | Restatements From Unrecorded Financing Arrangements | Series C Preferred Stock [Member]                                  
Stockholders’ equity                                  
Preferred Stock, Value, Issued $ 0 $ 0 $ 0