XML 103 R91.htm IDEA: XBRL DOCUMENT v3.21.2
Business Combinations and Asset Acquisitions (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Oct. 02, 2021
Oct. 02, 2021
Dec. 31, 2023
Sep. 24, 2021
Jul. 04, 2021
Jul. 03, 2021
Apr. 03, 2021
Acquisition details              
Initial investment in Craftsman             $ 1,300
Equity method investment balance $ 19,772 $ 19,772         21,960
Assets acquired and liabilities assumed              
Goodwill 106,487 106,487         $ 75,090
Net assets acquired         $ 12,400    
Minority Holder              
Acquisition details              
Minority interest ownership         30.00%   50.00%
Craftsman              
Acquisition details              
Ownership of Craftsman prior to acquisition             50.00%
Additional ownership acquired         20.00%    
Equity method investment balance           $ 2,900  
Remeasurement gain on step acquisition 3,300            
Payments to Acquire Businesses, Gross 2,500            
Reedemable noncontrolling interest         $ 1,200    
Assets acquired and liabilities assumed              
Cash         6,466    
Accounts receivable, net         577    
Inventories         7,393    
Property, plant and equipment, net         189    
Other current assets         846    
Intangible assets [1]         2,980    
Total identifiable assets acquired         18,451    
Accounts payable and accrued liabilities         10,028    
Net identifiable assets acquired         8,423    
Goodwill [2]         3,933    
Net assets acquired         12,356    
Results since acquisition              
Net revenue since acquisition 4,500 4,500          
Net income (loss) 243 243          
Craftsman | Forecast              
Acquisition details              
Additional ownership acquired     20.00%        
Craftsman | Forecast | Interest subject to Put or Call Right              
Acquisition details              
Additional ownership acquired     10.00%        
Craftsman | Other Noncurrent Liabilities              
Acquisition details              
Reedemable noncontrolling interest         2,500    
Craftsman | Trademarks and Trade Names [Member]              
Assets acquired and liabilities assumed              
Trademarks and trade names         $ 3,000    
Commodore              
Acquisition details              
Acquisition related deal costs for Commodore       $ 2,700      
Assets acquired and liabilities assumed              
Cash       619      
Accounts receivable, net       20,930      
Commercial loans, net       30,960      
Inventories       31,787      
Property, plant and equipment, net [3]       57,606      
Other current assets       534      
Intangible assets [4]       18,400      
Total identifiable assets acquired       160,836      
Accounts payable and accrued liabilities       32,249      
Net identifiable assets acquired       128,587      
Goodwill [5]       27,464      
Net assets acquired       156,051      
Results since acquisition              
Net revenue since acquisition 4,400 4,400          
Net income (loss) $ (645) $ (645)          
Commodore | Customer relationships              
Assets acquired and liabilities assumed              
Customer-related intangible       11,800      
Useful lives of acquired intangible assets   11 years          
Commodore | Order or Production Backlog              
Assets acquired and liabilities assumed              
Customer-related intangible       2,300      
Commodore | Noncompete Agreements              
Assets acquired and liabilities assumed              
Customer-related intangible       500      
Useful lives of acquired intangible assets   5 years          
Commodore | Trademarks and Trade Names [Member]              
Assets acquired and liabilities assumed              
Trademarks and trade names       $ 3,800      
[1] Includes $3.0 million assigned to trademarks and trade names, which are considered indefinite lived intangible assets and are not subject to amortization.
[2] Attributable to the Factory-built housing segment, all of which will be deductible for income tax purposes.
[3] Includes assets acquired under finance leases. See Note 9 for additional information.
[4] Includes $11.8 million assigned to customer-related intangibles, subject to a useful life of 11 years amortized on a straight-line basis; $3.8 million assigned to trademarks and trade names, which are considered indefinite lived intangible assets and are not subject to amortization; $2.3 million for acquired sales order backlogs that will be amortized over the period to produce the associated backlog; and $0.5 million for a covenant not to compete from the sellers, amortized on a straight-line basis over the term of 5 years.
[5] Attributable to the Factory-built housing segment, all of which will be deductible for income tax purposes.