XML 46 R36.htm IDEA: XBRL DOCUMENT v3.22.2
Note 4 - Acquisition - Consideration Paid for the Acquisition (Details) - USD ($)
$ in Thousands
6 Months Ended
Mar. 15, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Goodwill (3)   $ 50,246 $ 48,375 $ 50,641
Total cash paid, net of cash acquired   $ (0) $ 206,970  
Honeywell International, Inc. [Member]        
Cash $ 2,655      
Accounts receivable (1) [1] 36,734      
Inventories (2) [2] 41,057      
Property, plant and equipment 16,243      
Goodwill (3) [3] 50,246      
Intangible assets 98,620      
Other assets 1,250      
Accounts payable (18,108)      
Accrued expenses (13,634)      
Total identifiable net assets 215,063      
Cash acquired (2,655)      
Total cash paid, net of cash acquired $ 212,408      
[1] The recorded amount for accounts receivable considers expected uncollectible amounts of approximately $0.6 million in its determination of fair value.
[2] Fair value of finished goods inventories included a preliminary step up value of approximately $3.5 million, of which approximately $2.3 million and $2.6 million was expensed during the three months and six months ended June 30, 2021, and are included in "Cost of Goods Sold" in the accompanying unaudited condensed consolidated statements of operations. The remaining $0.9 million was expensed during the year ended December 31, 2021 and as such there was no expense for the three or six months ended June 30, 2022.
[3] Goodwill consists largely of the acquired workforce, expected cost synergies and economies of scale resulting from the Acquisition.