v3.25.3
Supplemental Data
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Data Supplemental Data
Supplemental Balance Sheet Data:
Summary of accrued expensesDecember 31,
202420232022
(in thousands)(As Restated)(As Restated)(As Restated)
Accrued payroll and fringe benefits$38,536 $41,182 $29,323 
Accrued taxes17,074 16,172 14,345 
Income taxes payable3,111 2,158 1,701 
Accrued interest41,584 25,102 22,716 
Accrued rebates and discounts12,298 9,868 8,948 
Warranty payable1,121 1,258 1,347 
Accrued inventory124,110 71,715 103,516 
Customer deposits47,929 40,067 23,019 
Deferred revenue8,284 7,350 7,093 
Other accrued expenses24,429 22,945 20,640 
Total$318,476 $237,817 $232,648 
Warranty liabilityYear ended December 31,
(in thousands)202420232022
Beginning balance$1,258 $1,347 $1,673 
Accrual2,332 3,386 2,714 
Warranty payments(2,469)(3,475)(3,040)
Ending balance$1,121 $1,258 $1,347 
Supplemental Statement of Operations Data:
Other income (expense), netYear ended December 31,
202420232022
(in thousands)(As Restated)(As Restated)(As Restated)
Foreign currency gain (loss)$781 $(819)$(1,163)
Loss on sale of capital assets(885)(890)(2,576)
Sublease income476 1,434 1,330 
Loss on equity method investment(1,709)— — 
Lugano expense (1)
(139,402)(84,893)(66,533)
Other income (expense)(2,565)2,054 95 
$(143,304)$(83,114)$(68,847)
(1) Lugano expense represents losses recognized at Lugano related to losses resulting from the accounting for the transactions associated with the off-balance sheet arrangements.
Supplemental Cash Flow Statement Data:
The following table provides supplemental disclosure of cash flow information for the years ended December 31, 2024, 2023 and 2022:
Year ended December 31,
(in thousands)202420232022
(As Restated)(As Restated)(As Restated)
Interest paid$115,726 $112,925 $79,365 
Taxes paid$61,889 $79,142 $24,607 
Non-cash financing and investing activities (1)
$11,465 $8,560 $1,946 
(1) Represents the non-cash settlement of Lugano financing arrangements.
Investments
Arnold Joint Venture
Arnold is a 50% partner in a China rare earth mine-to-magnet joint venture. Arnold accounts for its activity in the joint venture utilizing the equity method of accounting. Gains and losses from the joint venture were not material for the years ended December 31, 2024, 2023 and 2022.
Altor Solutions
In September 2020, Altor invested $3.6 million in Rational Packaging, LLC, a designer and manufacturer of recyclable, paperboard-based structural packaging components. The investment was accounted for as an equity method investment. In 2024, Altor acquired the remaining equity interests in Rational Packaging, LLC and began accounting for Rational Packaging as a consolidated entity. Gains and losses from the investment were not material for the years ended December 31, 2024, 2023 and 2022.