Acquisitions

3 Months Ended

Mar. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

Acquisitions

In March 2022, the Company acquired an 80.0% ownership interest for $51.1 million in a company engaged in residential and commercial textiles. The fair value of the assets acquired and liabilities assumed have been estimated based on a preliminary valuation. The fair values of the assets and liabilities will be adjusted, as needed, following completion of the final valuation.

    The following table summarizes the initial estimated fair value of net assets acquired and liabilities assumed for the business combination completed in 2022:

(In thousands)	2022
Cash and cash equivalents	$	1,564
Real estate, furniture and equipment	2,527
Intangible assets	48,787
Other assets	11,275
Total assets acquired	64,153
Other liabilities assumed	(5,417)
Noncontrolling interest	(7,600)
Net assets acquired	$	51,136