0000912562-21-000016 | 10-Q | XBRL Viewer

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Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2021	May 04, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	0-22462
Entity Registrant Name	GIBRALTAR INDUSTRIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	16-1445150
Entity Address, Address Line One	3556 Lake Shore Road
Entity Address, Address Line Two	P.O. Box 2028
Entity Address, City or Town	Buffalo
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14219-0228
City Area Code	716
Local Phone Number	826-6500
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	ROCK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		32,629,646
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000912562
Current Fiscal Year End Date	--12-31

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net Sales	$ 287,592	$ 215,401
Cost of sales	227,574	165,540
Gross profit	60,018	49,861
Selling, general, and administrative expense	47,203	37,084
Income from operations	12,815	12,777
Interest expense	444	44
Other expense	315	518
Income before taxes	12,056	12,215
Provision for income taxes	1,560	2,313
Income from continuing operations	10,496	9,902
Discontinued operations:
Income before taxes	2,570	2,830
Provision for income taxes	304	673
Income from discontinued operations	2,266	2,157
Net income	$ 12,762	$ 12,059
Net earnings per share – Basic:
Income from continuing operations (in dollars per share)	$ 0.32	$ 0.30
Income from discontinued operations (in dollars per share)	0.07	0.07
Net income (in dollars per share)	$ 0.39	$ 0.37
Weighted average shares outstanding -- Basic	32,771	32,586
Net earnings per share – Diluted:
Income from continuing operations (in dollars per share)	$ 0.32	$ 0.30
Income from discontinued operations (in dollars per share)	0.07	0.07
Net income (in dollars per share)	$ 0.39	$ 0.37
Weighted average shares outstanding -- Diluted	33,104	32,883

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net income	$ 12,762	$ 12,059
Other comprehensive income (loss):
Foreign currency translation adjustment	3,198	(5,898)
Minimum post retirement benefit plan adjustments	27	18
Other comprehensive income (loss)	3,225	(5,880)
Total comprehensive income	$ 15,987	$ 6,179

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 20,731	$ 32,054
Accounts receivable, net of allowance of $3,319 and $3,529	199,598	197,990
Inventories, net	107,004	98,307
Prepaid expenses and other current assets	24,684	19,671
Assets of discontinued operations	0	77,438
Total current assets	352,017	425,460
Property, plant, and equipment, net	91,717	89,562
Operating lease assets	23,465	25,229
Goodwill	523,446	514,279
Acquired intangibles	151,877	156,365
Other assets	12,669	1,599
Total assets	1,155,191	1,212,494
Current liabilities:
Accounts payable	135,130	134,738
Accrued expenses	71,946	83,505
Billings in excess of cost	51,591	34,702
Liabilities of discontinued operations	0	49,295
Total current liabilities	258,667	302,240
Long-term debt	58,023	85,636
Deferred income taxes	37,996	39,057
Non-current operating lease liabilities	16,165	17,730
Other non-current liabilities	25,932	24,026
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized 10,000 shares; none outstanding	0	0
Common stock, $0.01 par value; authorized 50,000 shares; 33,711 shares and 33,568 shares issued and outstanding in 2021 and 2020	337	336
Additional paid-in capital	308,147	304,870
Retained earnings	482,705	469,943
Accumulated other comprehensive income (loss)	764	(2,461)
Cost of 1,082 and 1,028 common shares held in treasury in 2021 and 2020	(33,545)	(28,883)
Total stockholders’ equity	758,408	743,805
Total liabilities and shareholders' equity	$ 1,155,191	$ 1,212,494

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 3,319	$ 3,529
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	33,711,000	33,711,000
Common stock, shares outstanding (in shares)	33,568,000	33,568,000
Treasury stock, shares (in shares)	1,082,000	1,028,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income available to common stockholders	$ 12,762	$ 12,059
Income from discontinued operations	2,266	2,157
Income from continuing operations	10,496	9,902
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,974	4,780
Stock compensation expense	2,368	1,665
Exit activity costs, non-cash	1,193	0
Benefit of deferred income taxes	0	(178)
Other, net	(162)	386
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable	(2,522)	(7,180)
Inventories	(15,262)	(7,242)
Other current assets and other assets	(435)	6,218
Accounts payable	1,470	(18,909)
Accrued expenses and other non-current liabilities	(6,334)	(33,268)
Net cash used in operating activities of continuing operations	(1,214)	(43,826)
Net cash (used in) provided by operating activities of discontinued operations	(2,011)	814
Net cash used in operating activities	(3,225)	(43,012)
Cash Flows from Investing Activities
Purchases of property, plant, and equipment	(4,389)	(2,144)
Acquisitions, net of cash acquired	(2)	(54,539)
Net proceeds from sale of business	26,991	0
Net proceeds from sale of property and equipment	0	52
Net cash provided by (used in) investing activities of continuing operations	22,600	(56,631)
Net cash used in investing activities of discontinued operations	(176)	(678)
Net cash provided by (used in) investing activities	22,424	(57,309)
Cash Flows from Financing Activities
Proceeds from long-term debt	20,000	0
Long-term debt payments	(46,636)	0
Purchase of treasury stock at market prices	(4,662)	(4,184)
Net proceeds from issuance of common stock	910	24
Net cash used in financing activities	(30,388)	(4,160)
Effect of exchange rate changes on cash	(134)	(916)
Net decrease in cash and cash equivalents	(11,323)	(105,397)
Cash and cash equivalents at beginning of year	32,054	191,363
Cash and cash equivalents at end of period	$ 20,731	$ 85,966

Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Balance, shares at Dec. 31, 2019		33,192					906
Balance, value at Dec. 31, 2019	$ 673,964	$ 332	$ 295,582	$ 405,668	$ (291)	$ (5,391)	$ (22,227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,059			12,059
Foreign currency translation adjustment	(5,898)					(5,898)
Minimum post retirement benefit plan adjustments, net of taxes	18					18
Stock compensation expense	1,665		1,665
Stock options exercised, shares		3
Stock options exercised	24		24
Net settlement of restricted stock units, shares		193					80
Net settlement of restricted stock units	(4,184)	$ 2	(2)				$ (4,184)
Balance, shares at Mar. 31, 2020		33,388					986
Balance, value at Mar. 31, 2020	677,357	$ 334	297,269	417,436		(11,271)	$ (26,411)
Balance, shares at Dec. 31, 2020		33,568					1,028
Balance, value at Dec. 31, 2020	743,805	$ 336	304,870	469,943		(2,461)	$ (28,883)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,762			12,762
Foreign currency translation adjustment	3,198					3,198
Minimum post retirement benefit plan adjustments, net of taxes	27					27
Stock compensation expense	2,368		2,368
Stock options exercised, shares		25
Stock options exercised	910		910
Net settlement of restricted stock units, shares		118					54
Net settlement of restricted stock units	(4,662)	$ 1	(1)				$ (4,662)
Balance, shares at Mar. 31, 2021		33,711					1,082
Balance, value at Mar. 31, 2021	$ 758,408	$ 337	$ 308,147	$ 482,705		$ 764	$ (33,545)

Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Adjustment to pension benefit liability, taxes	$ 10	$ 7

Consolidated Financial Statements	3 Months Ended
Consolidated Financial Statements	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED FINANCIAL STATEMENTS	CONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited consolidated financial statements of Gibraltar Industries, Inc. (the "Company") have been prepared by management in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments consisting of normal recurring adjustments considered necessary for the fair presentation of results for the interim period have been included. The Company's operations are seasonal; for this and other reasons, such as the impact of the COVID-19 pandemic, financial results for any interim period are not necessarily indicative of the results expected for any subsequent interim period or for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our annual Form 10-K for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.

Recent Accounting Pronouncements (Notes)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

RECENT ACCOUNTING PRONOUNCEMENTS

Recent Accounting Pronouncements Adopted

Standard

Description

Financial Statement Effect or Other Significant Matters

ASU No. 2019-12

Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and improve consistent application by clarifying and amending existing guidance. The amendments of this standard are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years.

The standard is effective for the Company as of January 1, 2021. The Company adopted the amendments in this update and the adoption did not have a material impact to the Company’s financial statements.

Date of adoption: Q1 2021

Accounts Receivable and Allowance for Doubtful Accounts

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS

Accounts receivable consists of the following (in thousands):


	March 31, 2021		December 31, 2020
Trade accounts receivable	$	175,277	$	174,604
Costs in excess of billings	27,640		26,915
Total accounts receivables	202,917		201,519
Less allowance for doubtful accounts and contract assets	(3,319)		(3,529)
Accounts receivable, net	$	199,598	$	197,990

Refer to Note 4 "Revenue" concerning the Company's costs in excess of billings.

The following table provides a roll-forward of the allowance for credit losses, for the three month period ended March 31, 2021, that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected.


Beginning balance as of January 1, 2021	$	3,529

Bad debt expense, net of recoveries	(159)
Accounts written off against allowance and other adjustments	(51)
Ending balance as of March 31, 2021	$	3,319

Revenue	3 Months Ended
Revenue	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	REVENUE Sales includes revenue from contracts with customers for: designing, engineering, manufacturing and installation of solar racking systems and greenhouse structures; electrical balance of systems; extraction systems; roof and foundation ventilation products; centralized mail systems and electronic package solutions; rain dispersion products and roofing accessories; retractable awnings; gutter guards; expansion joints and structural bearings. Refer to Note 15 "Segment Information" for additional information related to revenue recognized by timing of transfer of control by reportable segment. As of March 31, 2021, the Company's remaining performance obligations are part of contracts that have an original expected duration of one year or less. Contract assets consist of costs in excess of billings. Contract liabilities consist of billings in excess of cost and unearned revenue. Unearned revenue as of March 31, 2021 and December 31, 2020 was $13.1 million and $21.3 million, respectively. Revenue recognized during the three months ended March 31, 2021 and 2020 that was in contract liabilities at the beginning of the respective periods was $40.7 million and $38.1 million, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Inventories

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consist of the following (in thousands):


	March 31, 2021		December 31, 2020
Raw material	$	73,364	$	66,018
Work-in-process	4,844		5,382
Finished goods	32,757		31,205
Gross inventory	$	110,965	$	102,605
Less reserves	(3,961)		(4,298)
Total inventories, net	$	107,004	$	98,307

Acquisitions

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

ACQUISITIONS

2020 Acquisitions

During the year ended December 31, 2020, the Company acquired five businesses in separate transactions, two of which are included within our Renewables segment, two in our Agtech segment, and one in our Residential segment. The purchase consideration for each acquisition was allocated to the assets acquired and liabilities assumed based upon their respective fair values.

On December 31, 2020, the Company purchased all the outstanding membership interests of TerraSmart LLC ("TerraSmart"), a leading provider of screw-based, ground-mount solar racking technology, particularly used for solar projects installed on challenging terrain. The results of TerraSmart have been included in the Company's consolidated financial results since the date of acquisition within the Company's Renewables segment. The preliminary purchase consideration for the acquisition of TerraSmart was $223.7 million, which includes a preliminary working capital adjustment and certain other adjustments provided for in the stock purchase agreement.

The purchase price for the TerraSmart acquisition was preliminarily allocated to the assets acquired and liabilities assumed based upon their respective fair values estimated as of the date of acquisition. The Company has commenced the process to confirm the existence, condition and completeness of the assets acquired and liabilities assumed to establish fair values of such acquired assets and assumed liabilities and to determine the amount of goodwill to be recognized as of the date of acquisition. Due to the timing of the acquisition, we continue to gather information supporting the acquired assets and assumed liabilities. Accordingly, all amounts recorded are provisional. These provisional amounts are subject to change if new information is obtained concerning facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The final determination of the fair value of certain assets and liabilities will be completed within a measurement period of up to one year from the date of acquisition. The final values may also result in changes to depreciation and amortization expense related to certain assets such as property, plant and equipment and acquired intangible assets. The preliminary excess consideration was recorded as goodwill and approximated $153.7 million, all of which is deductible for tax purposes. Goodwill represents future economic benefits arising from other assets acquired that could not be individually identified including workforce additions, growth opportunities, and increased presence in the domestic solar energy market. The final purchase price allocation will be completed no later than December 31, 2021.

The preliminary allocation of the TerraSmart purchase consideration to the estimated fair value of the assets acquired and liabilities assumed is as follows as of the date of the acquisition (in thousands):


Cash	$	1,491
Working capital	7,158
Property, plant and equipment	9,396
Acquired intangible assets	51,700
Other assets	1,855
Other liabilities	(1,636)
Goodwill	153,690
Fair value of purchase consideration	$	223,654

The intangible assets acquired in the TerraSmart acquisition consisted of the following (in thousands):


	Fair Value		Weighted-Average Amortization Period
Trademarks	$	16,400	Indefinite
Trademarks	300		7 years
Technology	2,500		15 years
Customer relationships	24,000		10 years
Non-compete agreements	2,200		5 years
Backlog	6,300		Less than 1 year
Total	$	51,700

On December 11, 2020, the Company purchased all the outstanding stock of Sunfig Corporation ("Sunfig"), a provider of software solutions that optimize solar energy investments through upstream design, performance and financial modeling, for a preliminary purchase consideration of $3.8 million, which includes a preliminary working capital adjustment and certain other adjustments provided for in the stock purchase agreement. The results of Sunfig have been included in the Company's consolidated financial results since the date of acquisition within the Company's Renewables segment. The excess consideration was recorded as goodwill and approximated $3.2 million, all of which is deductible for tax purposes.

On October 15, 2020, the Company purchased substantially all of the assets of Architectural Mailboxes LLC ("Architectural Mailboxes"), a complementary addition to the Company's existing mail and package solutions business within the Residential segment, for a preliminary purchase consideration of $26.9 million, which includes a working capital adjustment and certain other adjustments provided for in the asset purchase agreement. The results of Architectural Mailboxes have been included in the Company's consolidated financial results since the date of acquisition within the Company's Residential segment. The excess consideration was recorded as goodwill and approximated $7.4 million, all of which is deductible for tax purposes.

On February 13, 2020, the Company purchased substantially all of the assets of Delta Separations, LLC and Teaching Tech, LLC (collectively, "Delta Separations") for a purchase consideration of $47.1 million, which includes a working capital adjustment and certain other adjustments provided for in the asset purchase agreement. Delta Separations was a privately-held engineering company primarily engaged in the assembly and sale of centrifugal ethanol-based extraction systems. The results of Delta Separations have been included in the Company's consolidated financial results since the date of acquisition within the Company's Agtech segment. The excess consideration was recorded as goodwill and approximated $32.2 million, all of which is deductible for tax purposes.

On January 15, 2020, the Company purchased substantially all of the assets of Thermo Energy Systems Inc. ("Thermo"), a Canadian-based, privately held provider of commercial greenhouse solutions in North America providing growing infrastructure for the plant based organic food market, for a purchase consideration of $7.3 million. The results of Thermo have been included in the Company's consolidated financial results since the date of acquisition within the Company's Agtech segment. Goodwill of approximately $18.7 million was recorded, all of which is deductible for tax purposes.

The preliminary allocation of the purchase price for Sunfig and Architectural Mailboxes remains subject to adjustments during the measurement period as third-party valuations are finalized. The preliminary and final allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo is as follows as of the respective date of the acquisition (in thousands):


Cash	$	200
Working capital	(14,957)
Property, plant and equipment	1,740
Acquired intangible assets	38,296
Other current assets	1,528
Other assets	2,381
Other liabilities	(5,508)
Goodwill	61,422
Fair value of purchase consideration	$	85,102

Goodwill represents future economic benefits arising from other assets acquired that could not be individually identified including workforce additions, growth opportunities, and increased presence in the respective markets.

The intangible assets acquired in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo consisted of the following (in thousands):


	Fair Value		Weighted-Average Amortization Period
Trademarks	$	8,200	Indefinite
Trademarks	1,177		3 years
Technology	8,175		7 - 15 years
Customer relationships	18,780		5 - 13 years
Non-compete agreements	1,036		5 years
Backlog	928		Less than 1 year
Total	$	38,296

In determining the allocation of the purchase price to the assets acquired and the liabilities assumed, the Company uses all available information to make fair value determinations using Level 3 unobservable inputs in which little or no market data exists, and therefore, engages independent valuation specialists to assist in the fair value determination of the acquired long-lived assets.

The acquisition of TerraSmart was financed through a combination of cash on hand and borrowings under the Company's revolving credit facility. The acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo were funded from available cash on hand.

The Company incurred certain acquisition-related costs composed of legal and consulting fees. These costs were recognized as a component of selling, general, and administrative expenses in the consolidated statement of operations. During the three months ended March 31, 2021 and 2020, the Company incurred $0.9 million and $1.3 million, respectively, in acquisition-related costs. The Company did not recognize acquisition-related costs as a component of cost of sales for the three months ended March 31, 2021 and 2020, respectively.

Goodwill and Related Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND RELATED INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2021 are as follows (in thousands):


	Renewables		Residential		Agtech		Infrastructure		Total
Balance at December 31, 2020	$	192,527	$	205,452	$	84,622	$	31,678	$	514,279
Adjustments to prior year acquisitions	9,951		—		—				9,951

Foreign currency translation	(989)		—		205		—		(784)
Balance at March 31, 2021	$	201,489	$	205,452	$	84,827	$	31,678	$	523,446

The Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company determined that a triggering event has not occurred which would require an interim impairment test to be performed.

Acquired Intangible Assets

Acquired intangible assets consist of the following (in thousands):


	March 31, 2021				December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite-lived intangible assets:
Trademarks	$	56,670	$	—	$	56,570	$	—
Finite-lived intangible assets:
Trademarks	5,831		3,574		5,818		3,385
Unpatented technology	38,892		18,479		38,752		17,765
Customer relationships	98,135		33,298		98,500		31,580
Non-compete agreements	4,888		1,913		4,885		1,747
Backlog	7,235		2,510		7,228		911
	154,981		59,774		155,183		55,388
Total acquired intangible assets	$	211,651	$	59,774	$	211,753	$	55,388

The following table summarizes the acquired intangible asset amortization expense for the three months ended March 31 (in thousands):


	Three Months Ended March 31,
	2021		2020
Amortization expense	$	4,743	$	1,984

Amortization expense related to acquired intangible assets for the remainder of fiscal 2021 and the next five years thereafter is estimated as follows (in thousands):


	2021		2022		2023		2024		2025		2026
Amortization expense	$	14,140	$	12,120	$	11,195	$	11,014	$	10,780	$	8,700

Long-Term Debt

3 Months Ended

Mar. 31, 2021

Long-term Debt, Unclassified [Abstract]

LONG-TERM DEBT

Long-term debt consists of the following (in thousands):


	March 31, 2021		December 31, 2020
Revolving credit facility	$	59,000	$	85,000
Other debt	—		636
Less unamortized debt issuance costs	(977)		—
Total debt	$	58,023	$	85,636

Senior Credit Agreement

On January 24, 2019, the Company entered into a Sixth Amended and Restated Credit Agreement ("Senior Credit Agreement"), which amended and restated the Company’s Fifth Amended and Restated Credit Agreement dated December 9, 2015, and provides for a revolving credit facility and letters of credit in an aggregate amount equal to $400 million. The Company can request additional financing from the lenders to increase the revolving credit facility to $700 million or enter into a term loan of up to $300 million subject to conditions set forth in the Senior Credit Agreement. The Senior Credit Agreement contains three financial covenants. As of March 31, 2021, the Company was in compliance with all three covenants.

Interest rates on the revolving credit facility are based on LIBOR plus an additional margin that ranges from 1.125% to 2.00%. In addition, the revolving credit facility is subject to an undrawn commitment fee ranging between 0.15% and 0.25% based on the Total Leverage Ratio (as defined in the Senior Credit Agreement) and the daily average undrawn balance. The Senior Credit Agreement terminates on January 23, 2024.

Borrowings under the Senior Credit Agreement are secured by the trade receivables, inventory, personal property, equipment, and general intangibles of the Company’s significant domestic subsidiaries.

Standby letters of credit of $6.2 million have been issued under the Senior Credit Agreement on behalf of the Company as of March 31, 2021. These letters of credit reduce the amount otherwise available under the revolving credit facility. The Company had $334.8 million and $309.2 million of availability under the revolving credit facility at March 31, 2021 and December 31, 2020, respectively.

Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

The following tables summarize the cumulative balance of each component of accumulated other comprehensive loss, net of tax, for the three months ended March 31, (in thousands):


	Foreign Currency Translation Adjustment		Minimum post retirement benefit plan adjustments		Total Pre-Tax Amount		Tax (Benefit) Expense		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2020	$	(872)	$	(2,426)	$	(3,298)	$	(837)	$	(2,461)

Minimum post retirement health care plan adjustments	—		37		37		10		27
Foreign currency translation adjustment	3,198		—		3,198		—		3,198
Balance at March 31, 2021	$	2,326	$	(2,389)	$	(63)	$	(827)	$	764


	Foreign Currency Translation Adjustment		Minimum post retirement benefit plan adjustments		Total Pre-Tax Amount		Tax (Benefit) Expense		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2019	$	(4,173)	$	(1,939)	$	(6,112)	$	(721)	$	(5,391)

Minimum post retirement health care plan adjustments	—		25		25		7		18
Foreign currency translation adjustment	(5,898)		—		(5,898)		—		(5,898)
Balance at March 31, 2020	$	(10,071)	$	(1,914)	$	(11,985)	$	(714)	$	(11,271)

The realized adjustments relating to the Company’s minimum post retirement health care costs were reclassified from accumulated other comprehensive loss and included in other expense in the consolidated statements of income.

Equity-Based Compensation

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

EQUITY-BASED COMPENSATION

On May 4, 2018, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. 2018 Equity Incentive Plan (the "2018 Plan"). The 2018 Plan provides for the issuance of up to 1,000,000 shares of common stock and supplements the remaining shares available for issuance under the Gibraltar Industries, Inc. 2015 Equity Incentive Plan (the "2015 Plan"). Both the 2018 Plan and the 2015 Plan allow the Company to grant equity-based incentive compensation awards, in the form of non-qualified options, restricted shares, restricted stock units, performance shares, performance stock units, and stock rights to eligible participants.

In 2016, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. 2016 Stock Plan for Non-Employee Directors ("Non-Employee Directors Plan") which allows the Company to grant awards of shares of the Company's common stock to non-employee Directors of the Company and permits the Directors to defer receipt of such shares pursuant to the terms of the Non-Employee Directors Plan.

Equity Based Awards - Settled in Stock

The following table sets forth the number of equity-based awards granted during the three months ended March 31, which will convert to shares upon vesting, along with the weighted average grant date fair values:


	2021			2020
Awards	Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards (2)	Weighted Average Grant Date Fair Value
Performance stock units (1)	62,778	$	87.84	123,870	$	53.29
Restricted stock units	33,187	$	87.91	42,101	$	52.31

(1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance or market conditions. The number of shares to be issued may vary between 0% and 200% of the number of performance stock units granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on either the Company’s return on invested capital (“ROIC”) over a one-year performance period or revenue, gross profit and operating profit thresholds over a twoc or three-year performance period. The Company's PSUs with a market condition are based on the ranking of the Company’s total stockholder return (“TSR”) performance, on a percentile basis, over a three year performance period compared to the S&P Small Cap Industrial sector, over the same three year performance period.

(2) PSUs granted in the first quarter of 2020 include 72,239 units that will be converted to shares and issued to recipients in the first quarter of 2023 at 109.5% of the target amount granted, based on the Company’s actual ROIC compared to ROIC target for the performance period ended December 31, 2020.

Equity Based Awards - Settled in Cash

The Company's equity-based liability is comprised of awards under a management stock purchase plan. As of March 31, 2021, the Company's total share-based liabilities recorded on the consolidated balance sheet were $19.3 million, of which $16.4 million was included in non-current liabilities. The share-based liabilities as of December 31, 2020 were $18.2 million, of which $14.7 million was included in non-current liabilities.

The Management Stock Purchase Plan ("MSPP") provides participants the ability to defer a portion of their compensation, convertible to unrestricted investments, restricted stock units, or a combination of both, or defer a portion of their directors’ fees, convertible to restricted stock units. Employees eligible to defer a portion of their compensation also receive a company-matching award in restricted stock units equal to a percentage of their compensation.

The deferrals and related company match are credited to an account that represents a share-based liability. The portion of the account deferred to unrestricted investments is measured at fair market value of the unrestricted investments, and the portion of the account deferred to restricted stock units and company-matching restricted stock units is measured at a 200-day average of the Company’s stock price. The account will be converted to and settled in cash payable to participants upon retirement or a termination of their service to the Company.

The following table provides the number of restricted stock units credited to active participant accounts and the payments made with respect to restricted stock units issued under the MSPP during the three months ended March 31,:


	2021		2020
Restricted stock units credited	24,085		52,411
Share-based liabilities paid (in thousands)	$	3,510	$	4,433

Discontinued Operations

3 Months Ended

Mar. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

On February 23, 2021, the Company sold the stock of its Industrial business which had been classified as held for sale and reported as a discontinued operation in the Company’s consolidated financial statements for the year ended December 31, 2020. Net proceeds of $38 million, consisting of cash and a $13 million seller note, resulted in an estimated pre-tax loss of $30 million, subject to working capital and other adjustments, of which $29.6 million was recorded when the assets of the Industrial business were written down to fair market value during the fourth quarter of 2020.

The results of operations and financial position of the Industrial business have been presented as a discontinued operation in the Company's consolidated financial statements for all periods presented. The Company allocates interest to its discontinued operations in accordance with ASC Subtopic 205-20, “Presentation of Financial Statements – Discontinued Operations.” Interest was allocated based on the amount of net assets held by the discontinued operation in comparison to consolidated net assets.

The following carrying amounts of the major classes of assets and liabilities included in discontinued operations related to the Industrial business has been segregated from the Company's continuing operations and are reported as assets and liabilities of discontinued operations, respectively, in the consolidated balance sheet at December 31, 2020 (in thousands):


	December 31, 2020
Assets
Accounts receivable, net	$	11,261
Inventories, net	13,041
Prepaid expenses and other current assets	21,310
Total current assets (1)	45,612
Property, plant, and equipment, net	16,999
Operating lease assets	6,470
Goodwill	22,475
Acquired intangibles	15,482
Loss recognized on classification as held for sale	(29,600)
Total noncurrent assets (1)	31,826
Total assets classified as held for sale	$	77,438

Liabilities
Accounts payable	$	10,708
Accrued expenses	9,274
Total current liabilities (1)	19,982
Deferred income taxes	24,657
Non-current operating lease liabilities	4,639
Other non-current liabilities	17
Total noncurrent liabilities (1)	29,313
Total liabilities classified as held for sale	$	49,295

(1) The assets and liabilities of the discontinued operations were classified as current on the December 31, 2020 consolidated balance sheet, as it was probable that the sale would occur and proceeds will be collected within one year.

Components of income from discontinued operations before taxes, including the interest allocated to discontinued operations, for the three months ended March 31 are as follows (in thousands):


	2021		2020
Net sales	$	20,391	$	34,038
Operating expenses	17,493		31,202
Adjustment to loss on disposal	328		—
Interest expense allocation	—		6
Income from discontinued operations before taxes	$	2,570	$	2,830

Exit Activity Costs and Asset Impairments

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS

EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTSThe Company has incurred exit activity costs and asset impairment charges as a result of its 80/20 simplification and portfolio management initiatives. These initiatives have resulted in the identification of low-volume, low margin, internally-produced products which have been or will be outsourced or discontinued, the simplification of processes, the sale and exiting of less profitable businesses or product lines, and a reduction in our manufacturing footprint.

Exit activity costs were incurred during the three months ended March 31, 2021 which related to moving and closing costs, contract terminations, and severance, along with asset impairment charges related to the write-down of inventory and impairment of machinery and equipment associated with discontinued product lines, as a result of process simplification initiatives. In conjunction with these initiatives, the Company closed two facilities during the three months ended March 31, 2021. Exit activity costs were incurred from the above initiatives for the three months ended March 31, 2020. No facilities were closed as a result of these initiatives during the three months ended March 31, 2020.

The following tables set forth the asset impairment charges and exit activity costs incurred by segment during the three months ended March 31, related to the restructuring activities described above (in thousands):


	Three months ended March 31,
	2021						2020
	Asset impairment charges		Exit activity costs (recoveries), net		Total		Asset impairment charges		Exit activity costs		Total
Renewables	$	1,193	$	3,778	$	4,971	$	—	$	18	$	18
Residential	—		65		65		—		221		221
Agtech	—		204		204		—		—		—
Infrastructure	—		—		—		—		—		—
Corporate	—		—		—		—		54		54
Total exit activity costs & asset impairments	$	1,193	$	4,047	$	5,240	$	—	$	293	$	293

The following table provides a summary of where the asset impairments and exit activity costs were recorded in the consolidated statements of income for the three months ended March 31, (in thousands):


	Three Months Ended March 31,
	2021		2020
Cost of sales	$	5,047	$	69
Selling, general, and administrative expense	193		224
Total asset impairment and exit activity charges	$	5,240	$	293

The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands):


	2021		2020
Balance at January 1	$	1,030	$	2,083
Exit activity costs recognized	4,047		293
Cash payments	(1,464)		(1,365)
Balance at March 31	$	3,613	$	1,011

Income Taxes

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

The following table summarizes the provision for income taxes for continuing operations (in thousands) for the three months ended March 31, and the applicable effective tax rates:


	Three Months Ended March 31,
	2021			2020
Provision for income taxes	$	1,560		$	2,313
Effective tax rate	12.9		%	18.9		%

The effective tax rate for the three months ended March 31, 2021 and 2020, respectively, was less than the U.S. federal statutory rate of 21% due to favorable discrete items due to an excess tax benefit on stock-based compensation, partially offset by state taxes and nondeductible permanent differences.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Earnings per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings and weighted-average of diluted shares outstanding are as follows for the three months ended March 31, (in thousands):


	Three Months Ended March 31,
	2021		2020
Numerator:
Income from continuing operations	$	10,496	$	9,902
Income from discontinued operations	2,266		2,157
Net income available to common stockholders	$	12,762	$	12,059
Denominator for basic earnings per share:
Weighted average shares outstanding	32,771		32,586
Denominator for diluted earnings per share:
Weighted average shares outstanding	32,771		32,586
Common stock options and stock units	333		297
Weighted average shares and conversions	33,104		32,883

The weighted average number of diluted shares does not include potential anti-dilutive common shares issuable pursuant to equity based incentive compensation awards. There were no anti-dilutive shares outstanding for the three months ended March 31, 2021 and 18,000 for the three months ended March 31, 2020.

Segment Information

3 Months Ended

Mar. 31, 2021

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

SEGMENT INFORMATION

The Company is organized into four reportable segments on the basis of the production processes, products and services provided by each segment, identified as follows:

(i)Renewables, which primarily includes designing, engineering, manufacturing and installation of solar racking and electrical balance of systems;

(ii)Residential, which primarily includes roof and foundation ventilation products, centralized mail systems and electronic package solutions, retractable awnings and gutter guards, and rain dispersion products, trims and flashings and other accessories;

(iii)Agtech, which provides growing and processing solutions including the designing, engineering, manufacturing and installation of greenhouses, and botanical extraction systems; and

(iv)Infrastructure, which primarily includes structural bearings, expansion joints and pavement sealant for bridges, airport runways and roadways, elastomeric concrete, and bridge cable protection systems.

When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. During the first quarter of 2021, the Company reassessed its reportable segments. As a result, the Company's former Renewable Energy and Conservation segment was divided into two reportable segments: Renewables and Agtech.

The following table illustrates certain measurements used by management to assess performance of the segments described above for the three months ended March 31, (in thousands):


	Three Months Ended March 31,
	2021		2020
Net sales:
Renewables	$	85,512	$	47,263
Residential	140,217		103,419
Agtech	46,739		49,234
Infrastructure	15,124		15,485
Total net sales	$	287,592	$	215,401

Income from operations:
Renewables	$	(521)	$	4,359
Residential	22,934		13,725
Agtech	929		1,340
Infrastructure	2,037		1,576
Unallocated Corporate Expenses	(12,564)		(8,223)
Total income from operations	$	12,815	$	12,777


	March 31, 2021		December 31, 2020
Total assets:
Renewables	$	393,499	$	402,796
Residential	427,894		407,132
Agtech	212,507		216,275
Infrastructure	82,833		80,796
Unallocated corporate assets	38,458		28,057
Assets of discontinued operations	—		77,438
	$	1,155,191	$	1,212,494

The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three months ended March 31 (in thousands):


	Three Months Ended March 31, 2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	6,971		139,019		5,143		5,470		$	156,603
Over Time	78,541		1,198		41,596		9,654		130,989
Total net sales	$	85,512	$	140,217	$	46,739	$	15,124	$	287,592


	Three Months Ended March 31, 2020
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	3,696	$	102,331	$	14,096	$	5,457	$	125,580
Over Time	43,567		1,088		35,138		10,028		89,821
Total net sales	$	47,263	$	103,419	$	49,234	$	15,485	$	215,401

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
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+ Details

Recent Accounting Pronouncements (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Recent Accounting Pronouncements

Recent Accounting Pronouncements Adopted

Standard

Description

Financial Statement Effect or Other Significant Matters

ASU No. 2019-12

Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

Recent Accounting Pronouncements Adopted

Standard

Description

Financial Statement Effect or Other Significant Matters

ASU No. 2019-12

Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes

Accounts Receivable and Allowance for Doubtful Accounts (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable consists of the following (in thousands):


	March 31, 2021		December 31, 2020
Trade accounts receivable	$	175,277	$	174,604
Costs in excess of billings	27,640		26,915
Total accounts receivables	202,917		201,519
Less allowance for doubtful accounts and contract assets	(3,319)		(3,529)
Accounts receivable, net	$	199,598	$	197,990


Beginning balance as of January 1, 2021	$	3,529

Bad debt expense, net of recoveries	(159)
Accounts written off against allowance and other adjustments	(51)
Ending balance as of March 31, 2021	$	3,319

Inventories (Tables)

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consist of the following (in thousands):


	March 31, 2021		December 31, 2020
Raw material	$	73,364	$	66,018
Work-in-process	4,844		5,382
Finished goods	32,757		31,205
Gross inventory	$	110,965	$	102,605
Less reserves	(3,961)		(4,298)
Total inventories, net	$	107,004	$	98,307

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities Assumed


Cash	$	1,491
Working capital	7,158
Property, plant and equipment	9,396
Acquired intangible assets	51,700
Other assets	1,855
Other liabilities	(1,636)
Goodwill	153,690
Fair value of purchase consideration	$	223,654

The preliminary and final allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo is as follows as of the respective date of the acquisition (in thousands):


Cash	$	200
Working capital	(14,957)
Property, plant and equipment	1,740
Acquired intangible assets	38,296
Other current assets	1,528
Other assets	2,381
Other liabilities	(5,508)
Goodwill	61,422
Fair value of purchase consideration	$	85,102

Schedule of Acquired Intangible Assets

The intangible assets acquired in the TerraSmart acquisition consisted of the following (in thousands):


	Fair Value		Weighted-Average Amortization Period
Trademarks	$	16,400	Indefinite
Trademarks	300		7 years
Technology	2,500		15 years
Customer relationships	24,000		10 years
Non-compete agreements	2,200		5 years
Backlog	6,300		Less than 1 year
Total	$	51,700

The intangible assets acquired in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo consisted of the following (in thousands):


	Fair Value		Weighted-Average Amortization Period
Trademarks	$	8,200	Indefinite
Trademarks	1,177		3 years
Technology	8,175		7 - 15 years
Customer relationships	18,780		5 - 13 years
Non-compete agreements	1,036		5 years
Backlog	928		Less than 1 year
Total	$	38,296

Goodwill and Related Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Changes In Carrying Amount Of Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2021 are as follows (in thousands):


	Renewables		Residential		Agtech		Infrastructure		Total
Balance at December 31, 2020	$	192,527	$	205,452	$	84,622	$	31,678	$	514,279
Adjustments to prior year acquisitions	9,951		—		—				9,951

Foreign currency translation	(989)		—		205		—		(784)
Balance at March 31, 2021	$	201,489	$	205,452	$	84,827	$	31,678	$	523,446

Schedule Of Acquired Intangible Assets

Acquired intangible assets consist of the following (in thousands):


	March 31, 2021				December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite-lived intangible assets:
Trademarks	$	56,670	$	—	$	56,570	$	—
Finite-lived intangible assets:
Trademarks	5,831		3,574		5,818		3,385
Unpatented technology	38,892		18,479		38,752		17,765
Customer relationships	98,135		33,298		98,500		31,580
Non-compete agreements	4,888		1,913		4,885		1,747
Backlog	7,235		2,510		7,228		911
	154,981		59,774		155,183		55,388
Total acquired intangible assets	$	211,651	$	59,774	$	211,753	$	55,388

Schedule of Acquired Intangible Asset Amortization Expense

The following table summarizes the acquired intangible asset amortization expense for the three months ended March 31 (in thousands):


	Three Months Ended March 31,
	2021		2020
Amortization expense	$	4,743	$	1,984

Schedule Of Amortization Expense

Amortization expense related to acquired intangible assets for the remainder of fiscal 2021 and the next five years thereafter is estimated as follows (in thousands):


	2021		2022		2023		2024		2025		2026
Amortization expense	$	14,140	$	12,120	$	11,195	$	11,014	$	10,780	$	8,700

Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Long-term debt consists of the following (in thousands):


	March 31, 2021		December 31, 2020
Revolving credit facility	$	59,000	$	85,000
Other debt	—		636
Less unamortized debt issuance costs	(977)		—
Total debt	$	58,023	$	85,636

Accumulated Other Comprehensive (Loss) Income (Tables)

3 Months Ended

Mar. 31, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule Of Components Of Accumulated Other Comprehensive Loss

The following tables summarize the cumulative balance of each component of accumulated other comprehensive loss, net of tax, for the three months ended March 31, (in thousands):


	Foreign Currency Translation Adjustment		Minimum post retirement benefit plan adjustments		Total Pre-Tax Amount		Tax (Benefit) Expense		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2020	$	(872)	$	(2,426)	$	(3,298)	$	(837)	$	(2,461)

Minimum post retirement health care plan adjustments	—		37		37		10		27
Foreign currency translation adjustment	3,198		—		3,198		—		3,198
Balance at March 31, 2021	$	2,326	$	(2,389)	$	(63)	$	(827)	$	764


	Foreign Currency Translation Adjustment		Minimum post retirement benefit plan adjustments		Total Pre-Tax Amount		Tax (Benefit) Expense		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2019	$	(4,173)	$	(1,939)	$	(6,112)	$	(721)	$	(5,391)

Minimum post retirement health care plan adjustments	—		25		25		7		18
Foreign currency translation adjustment	(5,898)		—		(5,898)		—		(5,898)
Balance at March 31, 2020	$	(10,071)	$	(1,914)	$	(11,985)	$	(714)	$	(11,271)

Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule Of Number Of Awards And Weighted Average Grant Date Fair Value


	2021			2020
Awards	Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards (2)	Weighted Average Grant Date Fair Value
Performance stock units (1)	62,778	$	87.84	123,870	$	53.29
Restricted stock units	33,187	$	87.91	42,101	$	52.31

Management Stock Purchase Plan


	2021		2020
Restricted stock units credited	24,085		52,411
Share-based liabilities paid (in thousands)	$	3,510	$	4,433

Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2021

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations


	December 31, 2020
Assets
Accounts receivable, net	$	11,261
Inventories, net	13,041
Prepaid expenses and other current assets	21,310
Total current assets (1)	45,612
Property, plant, and equipment, net	16,999
Operating lease assets	6,470
Goodwill	22,475
Acquired intangibles	15,482
Loss recognized on classification as held for sale	(29,600)
Total noncurrent assets (1)	31,826
Total assets classified as held for sale	$	77,438

Liabilities
Accounts payable	$	10,708
Accrued expenses	9,274
Total current liabilities (1)	19,982
Deferred income taxes	24,657
Non-current operating lease liabilities	4,639
Other non-current liabilities	17
Total noncurrent liabilities (1)	29,313
Total liabilities classified as held for sale	$	49,295

Components of income from discontinued operations before taxes, including the interest allocated to discontinued operations, for the three months ended March 31 are as follows (in thousands):


	2021		2020
Net sales	$	20,391	$	34,038
Operating expenses	17,493		31,202
Adjustment to loss on disposal	328		—
Interest expense allocation	—		6
Income from discontinued operations before taxes	$	2,570	$	2,830

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Exit Activity Costs and Asset Impairments (Tables)

3 Months Ended

Mar. 31, 2021

Restructuring and Related Activities [Abstract]

Summary Of Exit Activity Costs And Asset Impairments


	Three months ended March 31,
	2021						2020
	Asset impairment charges		Exit activity costs (recoveries), net		Total		Asset impairment charges		Exit activity costs		Total
Renewables	$	1,193	$	3,778	$	4,971	$	—	$	18	$	18
Residential	—		65		65		—		221		221
Agtech	—		204		204		—		—		—
Infrastructure	—		—		—		—		—		—
Corporate	—		—		—		—		54		54
Total exit activity costs & asset impairments	$	1,193	$	4,047	$	5,240	$	—	$	293	$	293


	Three Months Ended March 31,
	2021		2020
Cost of sales	$	5,047	$	69
Selling, general, and administrative expense	193		224
Total asset impairment and exit activity charges	$	5,240	$	293

Reconciliation Of Liability For Exit Activity Costs Relating To Facility Consolidation Efforts

The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands):


	2021		2020
Balance at January 1	$	1,030	$	2,083
Exit activity costs recognized	4,047		293
Cash payments	(1,464)		(1,365)
Balance at March 31	$	3,613	$	1,011

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Summary Of Provision For Income Taxes For Continuing Operations

The following table summarizes the provision for income taxes for continuing operations (in thousands) for the three months ended March 31, and the applicable effective tax rates:


	Three Months Ended March 31,
	2021			2020
Provision for income taxes	$	1,560		$	2,313
Effective tax rate	12.9		%	18.9		%

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Schedule Of Computation Of Basic And Diluted Loss Per Share

Basic earnings and weighted-average of diluted shares outstanding are as follows for the three months ended March 31, (in thousands):


	Three Months Ended March 31,
	2021		2020
Numerator:
Income from continuing operations	$	10,496	$	9,902
Income from discontinued operations	2,266		2,157
Net income available to common stockholders	$	12,762	$	12,059
Denominator for basic earnings per share:
Weighted average shares outstanding	32,771		32,586
Denominator for diluted earnings per share:
Weighted average shares outstanding	32,771		32,586
Common stock options and stock units	333		297
Weighted average shares and conversions	33,104		32,883

Segment Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Reconciliation Of Sales To Earnings Before Income Taxes by Segment

The following table illustrates certain measurements used by management to assess performance of the segments described above for the three months ended March 31, (in thousands):


	Three Months Ended March 31,
	2021		2020
Net sales:
Renewables	$	85,512	$	47,263
Residential	140,217		103,419
Agtech	46,739		49,234
Infrastructure	15,124		15,485
Total net sales	$	287,592	$	215,401

Income from operations:
Renewables	$	(521)	$	4,359
Residential	22,934		13,725
Agtech	929		1,340
Infrastructure	2,037		1,576
Unallocated Corporate Expenses	(12,564)		(8,223)
Total income from operations	$	12,815	$	12,777


	March 31, 2021		December 31, 2020
Total assets:
Renewables	$	393,499	$	402,796
Residential	427,894		407,132
Agtech	212,507		216,275
Infrastructure	82,833		80,796
Unallocated corporate assets	38,458		28,057
Assets of discontinued operations	—		77,438
	$	1,155,191	$	1,212,494

Disaggregation of Revenue

The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three months ended March 31 (in thousands):


	Three Months Ended March 31, 2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	6,971		139,019		5,143		5,470		$	156,603
Over Time	78,541		1,198		41,596		9,654		130,989
Total net sales	$	85,512	$	140,217	$	46,739	$	15,124	$	287,592


	Three Months Ended March 31, 2020
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	3,696	$	102,331	$	14,096	$	5,457	$	125,580
Over Time	43,567		1,088		35,138		10,028		89,821
Total net sales	$	47,263	$	103,419	$	49,234	$	15,485	$	215,401

Accounts Receivable and Allowance for Doubtful Accounts - Schedule of Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Trade accounts receivable	$ 175,277	$ 174,604
Costs in excess of billings	27,640	26,915
Total accounts receivables	202,917	201,519
Less allowance for doubtful accounts and contract assets	(3,319)	(3,529)
Accounts receivable, net	$ 199,598	$ 197,990

Accounts Receivable and Allowance for Doubtful Accounts - Schedule of Accounts Receivable Allowance for Credit Losses (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance as of January 1, 2021	$ 3,529
Bad debt expense, net of recoveries	(159)
Accounts written off against allowance and other adjustments	(51)
Ending balance as of March 31, 2021	$ 3,319

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Unearned revenue	$ 13.1		$ 21.3
Revenue recognized that was in contract liabilities at the beginning of the period	$ 40.7	$ 38.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 \| Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation expected timing of satisfaction	1 year

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw material	$ 73,364	$ 66,018
Work-in-process	4,844	5,382
Finished goods	32,757	31,205
Gross inventory	110,965	102,605
Less reserves	(3,961)	(4,298)
Inventories, net	$ 107,004	$ 98,307

Acquisitions (Narrative) (Details)					3 Months Ended		12 Months Ended
Acquisitions (Narrative) (Details)	Dec. 11, 2020 USD ($)	Oct. 15, 2020 USD ($)	Feb. 13, 2020 USD ($)	Jan. 15, 2020 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($) business
Business Acquisition [Line Items]
Number of businesses acquired \| business							5
Goodwill					$ 523,446,000		$ 514,279,000
Acquisition related costs					900,000	$ 1,300,000
Cost of sales
Business Acquisition [Line Items]
Acquisition related costs					0	$ 0
Renewables
Business Acquisition [Line Items]
Number of businesses acquired \| business							2
Goodwill					201,489,000		$ 192,527,000
Agtech
Business Acquisition [Line Items]
Number of businesses acquired \| business							2
Goodwill					84,827,000		$ 84,622,000
Residential
Business Acquisition [Line Items]
Number of businesses acquired \| business							1
Goodwill					$ 205,452,000		$ 205,452,000
TerraSmart LLC
Business Acquisition [Line Items]
Acquisition purchase price							223,700,000
Goodwill							$ 153,690,000
Sunfig Corporation
Business Acquisition [Line Items]
Acquisition purchase price	$ 3,800,000
Goodwill	$ 3,200,000
Architectural Mailboxes, LLC
Business Acquisition [Line Items]
Acquisition purchase price		$ 26,900,000
Goodwill		$ 7,400,000
Delta Separations, LLC
Business Acquisition [Line Items]
Acquisition purchase price			$ 47,100,000
Goodwill			$ 32,200,000
Thermo Energy Systems
Business Acquisition [Line Items]
Acquisition purchase price				$ 7,300,000
Goodwill				$ 18,700,000

Acquisitions (Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Jan. 15, 2020
Business Acquisition [Line Items]
Goodwill	$ 523,446	$ 514,279
TerraSmart LLC
Business Acquisition [Line Items]
Cash		1,491
Working capital		7,158
Property, plant, and equipment		9,396
Acquired intangible assets		51,700
Other assets		1,855
Other liabilities		(1,636)
Goodwill		153,690
Fair value of purchase consideration		$ 223,654
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc.
Business Acquisition [Line Items]
Cash			$ 200
Working capital			(14,957)
Property, plant, and equipment			1,740
Acquired intangible assets			38,296
Other current assets			1,528
Other assets			2,381
Other liabilities			(5,508)
Goodwill			61,422
Fair value of purchase consideration			$ 85,102

Acquisitions (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Technology \| Minimum
Business Acquisition [Line Items]
Weighted-Average Amortization Period	7 years
Technology \| Maximum
Business Acquisition [Line Items]
Weighted-Average Amortization Period	15 years
Customer relationships \| Minimum
Business Acquisition [Line Items]
Weighted-Average Amortization Period	5 years
Customer relationships \| Maximum
Business Acquisition [Line Items]
Weighted-Average Amortization Period	13 years
Backlog
Business Acquisition [Line Items]
Weighted-Average Amortization Period	1 year
TerraSmart LLC
Business Acquisition [Line Items]
Fair Value		$ 51,700
TerraSmart LLC \| Trademarks
Business Acquisition [Line Items]
Fair Value		16,400
TerraSmart LLC \| Trademarks
Business Acquisition [Line Items]
Fair Value		$ 300
Weighted-Average Amortization Period		7 years
TerraSmart LLC \| Technology
Business Acquisition [Line Items]
Fair Value		$ 2,500
Weighted-Average Amortization Period		15 years
TerraSmart LLC \| Customer relationships
Business Acquisition [Line Items]
Fair Value		$ 24,000
Weighted-Average Amortization Period		10 years
TerraSmart LLC \| Non-compete agreements
Business Acquisition [Line Items]
Fair Value		$ 2,200
Weighted-Average Amortization Period		5 years
TerraSmart LLC \| Backlog
Business Acquisition [Line Items]
Fair Value		$ 6,300
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc.
Business Acquisition [Line Items]
Fair Value	$ 38,296
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. \| Trademarks
Business Acquisition [Line Items]
Fair Value	8,200
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. \| Trademarks
Business Acquisition [Line Items]
Fair Value	$ 1,177
Weighted-Average Amortization Period	3 years
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. \| Technology
Business Acquisition [Line Items]
Fair Value	$ 8,175
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. \| Customer relationships
Business Acquisition [Line Items]
Fair Value	18,780
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. \| Non-compete agreements
Business Acquisition [Line Items]
Fair Value	$ 1,036
Weighted-Average Amortization Period	5 years
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. \| Backlog
Business Acquisition [Line Items]
Fair Value	$ 928

Goodwill and Related Intangible Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2020	$ 514,279
Adjustments to prior year acquisitions	9,951
Foreign currency translation	(784)
Balance at March 31, 2021	523,446
Renewables
Goodwill [Roll Forward]
Balance at December 31, 2020	192,527
Adjustments to prior year acquisitions	9,951
Foreign currency translation	(989)
Balance at March 31, 2021	201,489
Residential
Goodwill [Roll Forward]
Balance at December 31, 2020	205,452
Adjustments to prior year acquisitions	0
Foreign currency translation	0
Balance at March 31, 2021	205,452
Agtech
Goodwill [Roll Forward]
Balance at December 31, 2020	84,622
Adjustments to prior year acquisitions	0
Foreign currency translation	205
Balance at March 31, 2021	84,827
Infrastructure
Goodwill [Roll Forward]
Balance at December 31, 2020	31,678
Adjustments to prior year acquisitions
Foreign currency translation	0
Balance at March 31, 2021	$ 31,678

Goodwill and Related Intangible Assets (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	$ 154,981	$ 155,183
Total acquired intangible assets, Gross Carrying Amount	211,651	211,753
Accumulated Amortization, Finite-lived intangible assets	59,774	55,388
Total acquired intangible assets, Accumulated Amortization	59,774	55,388
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	5,831	5,818
Accumulated Amortization, Finite-lived intangible assets	3,574	3,385
Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	38,892	38,752
Accumulated Amortization, Finite-lived intangible assets	18,479	17,765
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	98,135	98,500
Accumulated Amortization, Finite-lived intangible assets	33,298	31,580
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	4,888	4,885
Accumulated Amortization, Finite-lived intangible assets	1,913	1,747
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	7,235	7,228
Accumulated Amortization, Finite-lived intangible assets	2,510	911
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Indefinite-lived intangible assets	56,670	56,570
Accumulated Amortization, Indefinite-lived intangible assets	$ 0	$ 0

Goodwill and Related Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 4,743	$ 1,984

Goodwill and Related Intangible Assets (Schedule of Amortization Expense) (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 14,140
2022	12,120
2023	11,195
2024	11,014
2025	10,780
2026	$ 8,700

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Less unamortized debt issuance costs	$ (977)	$ 0
Total debt	58,023	85,636
Other Debt Obligations
Debt Instrument [Line Items]
Long term debt gross	0	636
Line of Credit \| 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Long term debt gross	$ 59,000	$ 85,000

Long-Term Debt (Narrative) (Details)		3 Months Ended
Long-Term Debt (Narrative) (Details)	Jan. 24, 2019 USD ($)	Mar. 31, 2021 USD ($) debtCovenant	Dec. 31, 2020 USD ($)
Revolving Credit Facility \| Senior Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, availability amount		$ 334,800,000	$ 309,200,000
Standby Letters of Credit \| Senior Credit Agreement
Debt Instrument [Line Items]
Letters of credit issued		$ 6,200,000
Line of Credit \| 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 400,000,000
Letters of credit issued	$ 700,000,000
Number of debt covenants \| debtCovenant		3
Line of Credit \| 2019 Senior Credit Agreement \| Minimum
Debt Instrument [Line Items]
Revolving credit facility, undrawn commitment fee	0.15%
Line of Credit \| 2019 Senior Credit Agreement \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Revolfing credit facility, interest rates margin	1.125%
Line of Credit \| 2019 Senior Credit Agreement \| Maximum
Debt Instrument [Line Items]
Revolving credit facility, undrawn commitment fee	0.25%
Line of Credit \| 2019 Senior Credit Agreement \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Revolfing credit facility, interest rates margin	2.00%
Medium-term Notes \| 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Debt instrument, issued value	$ 300,000,000

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	$ (3,298)	$ (6,112)
Accumulated other comprehensive income, tax, beginning balance	(837)	(721)
Accumulated other comprehensive income, beginning balance	(2,461)	(5,391)
Adjustment to pension benefit liability, taxes	10	7
Other comprehensive income (loss), net of tax	3,225	(5,880)
AOCI before tax, ending balance	(63)	(11,985)
Accumulated other comprehensive income, tax, ending balance	(827)	(714)
Accumulated other comprehensive income, ending balance	764	(11,271)
Accumulated Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	(872)	(4,173)
Other comprehensive income adjustments	3,198	(5,898)
Other comprehensive income (loss), net of tax	3,198	(5,898)
AOCI before tax, ending balance	2,326	(10,071)
Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income adjustments	37	25
Other comprehensive income (loss), net of tax	27	18
Minimum post retirement benefit plan adjustments \| Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance	(2,426)	(1,939)
Other comprehensive income adjustments	37	25
AOCI before tax, ending balance	$ (2,389)	$ (1,914)

Equity-Based Compensation - Incentive Plan (Details)	May 04, 2018 shares
2018 Plan \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,000,000

Equity-Based Compensation (Schedule of Number of Awards and Weighted Average Grant Date Fair Value) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards (in shares)		62,778	123,870
Weighted average grant date fair value (in USD per share)		$ 87.84	$ 53.29
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards (in shares)		33,187	42,101
Weighted average grant date fair value (in USD per share)		$ 87.91	$ 52.31
2018 Plan \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares to be issued on conversion as percentage of total award		109.50%
2018 Plan \| Scenario, Forecast \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares to be issued on conversion (in shares)	72,239
Minimum \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants based on targeted thresholds, percent		0.00%
Maximum \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants based on targeted thresholds, percent		200.00%
Return on Invested Capital \| 2018 Plan \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		1 year
Gross Profit Threshold \| Minimum \| 2018 Plan \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		2 years
Gross Profit Threshold \| Maximum \| 2018 Plan \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Total Shareholder Return \| 2018 Plan \| Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years

Equity-Based Compensation (Equity Based Awards - Settled in Cash) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	$ 19,300,000		$ 18,200,000
Non Current Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	16,400,000		$ 14,700,000
Management Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based liabilities paid (in thousands)	$ 3,510,000	$ 4,433,000
Management Stock Purchase Plan \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average company stock price measurement period	200 days
Restricted stock units credited (in shares)	$ 24,085	$ 52,411

Discontinued Operations - Narrative (Details) - Discontinued Operations, Disposed of by Sale - Industrial Business Segment - USD ($) $ in Millions		12 Months Ended
	Feb. 22, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds	$ 38.0
Net proceeds, seller note	13.0
Estimated pre-tax loss		$ 30.0
Adjustment to loss on disposal	$ 29.6

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Assets
Total current assets	$ 0		$ 77,438
Liabilities
Total current liabilities	0		49,295
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Income from discontinued operations before taxes	2,570	$ 2,830
Industrial Business Segment
Assets
Total assets classified as held for sale			77,438
Liabilities
Total liabilities classified as held for sale			49,295
Discontinued Operations, Held-for-sale \| Industrial Business Segment
Assets
Accounts receivable, net			11,261
Inventories, net			13,041
Prepaid expenses and other current assets			21,310
Total current assets			45,612
Property, plant, and equipment, net			16,999
Operating lease assets			6,470
Goodwill			22,475
Acquired intangibles			15,482
Loss recognized on classification as held for sale			(29,600)
Total noncurrent assets			31,826
Liabilities
Accounts payable			10,708
Accrued expenses			9,274
Total current liabilities			19,982
Deferred income taxes			24,657
Non-current operating lease liabilities			4,639
Other non-current liabilities			17
Total noncurrent liabilities			$ 29,313
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales	20,391	34,038
Operating expenses	17,493	31,202
Adjustment to loss on disposal	328	0
Interest expense allocation	0	6
Income from discontinued operations before taxes	$ 2,570	$ 2,830

Exit Activity Costs and Asset Impairments (Narrative) (Details) - facility	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Number of facilities closed	2	0

Exit Activity Costs and Asset Impairments (Summary of Exit Activity Costs and Asset Impairments by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	$ 1,193	$ 0
Exit activity costs (recoveries), net	4,047	293
Total	5,240	293
Renewables
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	1,193	0
Exit activity costs (recoveries), net	3,778	18
Total	4,971	18
Residential
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	0	0
Exit activity costs (recoveries), net	65	221
Total	65	221
Agtech
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	0	0
Exit activity costs (recoveries), net	204	0
Total	204	0
Infrastructure
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	0	0
Exit activity costs (recoveries), net	0	0
Total	0	0
Corporate
Restructuring Cost and Reserve [Line Items]
Asset impairment charges	0	0
Exit activity costs (recoveries), net	0	54
Total	$ 0	$ 54

Exit Activity Costs and Asset Impairments (Summary of Exit Activity Costs and Asset Impairments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Total	$ 5,240	$ 293
Exit activity costs (recoveries), net	4,047	293
Cost of sales
Restructuring Cost and Reserve [Line Items]
Total	5,047	69
Selling, general, and administrative expense
Restructuring Cost and Reserve [Line Items]
Total	$ 193	$ 224

Exit Activity Costs and Asset Impairments (Reconciles of Liability for Exit Activity Costs Relating to Facility Consolidation Efforts) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Reserve [Roll Forward]
Beginning balance	$ 1,030	$ 2,083
Exit activity costs (recoveries), net	4,047	293
Cash payments	(1,464)	(1,365)
Ending balance	$ 3,613	$ 1,011

Income Taxes (Provision For Income Taxes For Continuing Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 1,560	$ 2,313
Effective tax rate	12.90%	18.90%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes (Narrative) (Details)	3 Months Ended
Income Taxes (Narrative) (Details)	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	21.00%	21.00%

Earnings per Share (Details) - USD ($) $ in Thousands	3 Months Ended
Earnings per Share (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Income from continuing operations	$ 10,496	$ 9,902
Income from discontinued operations	2,266	2,157
Net income available to common stockholders	$ 12,762	$ 12,059
Weighted average basic shares outstanding (in shares)	32,771,000	32,586,000
Common stock options and restricted stock (in shares)	333,000	297,000
Weighted average shares outstanding, diluted (in shares)	33,104,000	32,883,000
Common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share calculation (in shares)	0	18,000

- Definition

Amount after tax of income (loss) from continuing operations attributable to the parent.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Segment Information (Details) $ in Thousands	3 Months Ended
Segment Information (Details) $ in Thousands	Mar. 31, 2021 USD ($) segment	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of reportable segments \| segment	4
Net Sales	$ 287,592	$ 215,401
Total consolidated income from operations	12,815	12,777
Total assets	1,155,191		$ 1,212,494
Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	85,512	47,263
Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	140,217	103,419
Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	46,739	49,234
Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	15,124	15,485
Operating Segments \| Discontinued Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total assets	0		77,438
Operating Segments \| Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	85,512	47,263
Total consolidated income from operations	(521)	4,359
Total assets	393,499		402,796
Operating Segments \| Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	140,217	103,419
Total consolidated income from operations	22,934	13,725
Total assets	427,894		407,132
Operating Segments \| Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	46,739	49,234
Total consolidated income from operations	929	1,340
Total assets	212,507		216,275
Operating Segments \| Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales	15,124	15,485
Total consolidated income from operations	2,037	1,576
Total assets	82,833		80,796
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated income from operations	(12,564)	$ (8,223)
Total assets	$ 38,458		$ 28,057

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net Sales	$ 287,592	$ 215,401
Renewables
Disaggregation of Revenue [Line Items]
Net Sales	85,512	47,263
Residential
Disaggregation of Revenue [Line Items]
Net Sales	140,217	103,419
Agtech
Disaggregation of Revenue [Line Items]
Net Sales	46,739	49,234
Infrastructure
Disaggregation of Revenue [Line Items]
Net Sales	15,124	15,485
Point in Time
Disaggregation of Revenue [Line Items]
Net Sales	156,603	125,580
Point in Time \| Renewables
Disaggregation of Revenue [Line Items]
Net Sales	6,971	3,696
Point in Time \| Residential
Disaggregation of Revenue [Line Items]
Net Sales	139,019	102,331
Point in Time \| Agtech
Disaggregation of Revenue [Line Items]
Net Sales	5,143	14,096
Point in Time \| Infrastructure
Disaggregation of Revenue [Line Items]
Net Sales	5,470	5,457
Over Time
Disaggregation of Revenue [Line Items]
Net Sales	130,989	89,821
Over Time \| Renewables
Disaggregation of Revenue [Line Items]
Net Sales	78,541	43,567
Over Time \| Residential
Disaggregation of Revenue [Line Items]
Net Sales	1,198	1,088
Over Time \| Agtech
Disaggregation of Revenue [Line Items]
Net Sales	41,596	35,138
Over Time \| Infrastructure
Disaggregation of Revenue [Line Items]
Net Sales	$ 9,654	$ 10,028

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
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