0000912562-24-000012 | 10-K | XBRL Viewer

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Pension and Other Postretirement Benefits (Amounts Recognized in the Consolidated Financial Statements) (Details) - Other Postretirement Benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Accrued post retirement liability: Current portion	$ 357	$ 353
Accrued post retirement liability: Long term portion	3,851	3,876
Pre-tax accumulated other comprehensive loss – unamortized post-retirement healthcare costs	73	74
Net amount recognized	$ 4,135	$ 4,155

Income Taxes (Summary of Valuation Allowance) (Details) - Deferred Tax Valuation Allowance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance as of January 1	$ 26,488	$ 26,581	$ 111
Cost charged to the tax provision	105	10	13
Reductions	0	(103)	(41)
Reclassification from discontinued operations upon sale of industrial group	0	0	26,498
Balance as of December 31	$ 26,593	$ 26,488	$ 26,581

Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Costs in excess of billings	$ 52,035	$ 41,732	$ 54,437
Contract with customer liability	(3,941)	(4,572)	(3,681)
Billings in excess of costs
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer liability	$ (44,735)	$ (35,017)	$ (46,711)

Revenue (Notes)

12 Months Ended

Dec. 31, 2023

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; electrical balance of systems; roof and foundation ventilation products; centralized mail systems and electronic package solutions; rain dispersion products; trims and flashings and other accessories; retractable awnings; gutter guards; designing, engineering, manufacturing and installation of greenhouses; structural bearings; expansion joints; pavement sealant; elastomeric concrete; and bridge cable protection systems.

Refer to Note 20 "Segment Information" for additional information related to revenue recognized by timing of transfer of control by reportable segment.

Payment terms and conditions vary by contract, although terms generally include a requirement of payment within a range from 30 to 60 days, or in certain cases, up front deposits. In circumstances where the timing of revenue recognition differs from the timing of invoicing, the Company has determined that the Company's contracts generally do not include a significant financing component. Taxes collected from customers, which are subsequently remitted to governmental authorities, are excluded from sales.

As of December 31, 2023, the Company's remaining performance obligations are part of contracts that have an original expected duration of one year or less. Additionally, as of December 31, 2023 and 2022, there were no assets recognized related to incremental costs of obtaining a contract with a customer as the benefits of these costs are not expected to exceed one year.

Contract assets consist of costs in excess of billings presented within accounts receivable in the Company's consolidated balance sheets. Contract liabilities consist of billings in excess of costs, classified as current liabilities, and unearned revenue, presented within accrued expenses, in the Company's consolidated balance sheets.

The following table presents the ending and beginning balances of costs in excess of billings, billings in excess of cost and unearned revenue, respectively, as of December 31 (in thousands):


	2023		2022		2021
Costs in excess of billings	$	52,035	$	41,732	$	54,437
Billings in excess of costs	(44,735)		(35,017)		(46,711)
Unearned revenue	(3,941)		(4,572)		(3,681)

Revenue recognized during the years ended December 31, 2023, 2022, and 2021 that was in contract liabilities at the beginning of the respective periods was $35.5 million, $44.4 million, and $53.0 million, respectively.

The increase in costs in excess of billings as of December 31, 2023 compared to December 31, 2022 was primarily due to the timing of the Company’s right to invoice customers for performance satisfied near the end of 2023. The increase in billings in excess of costs as of December 31, 2023 compared to December 31, 2022 was primarily due to timing and an increase in number of contracts under which the Company has billed customers in advance of the satisfaction of performance obligations in the Renewables segment near the end of 2023. The decreases in costs

in excess of billings and billings in excess of costs as of December 31, 2022 compared to December 31, 2021, respectively, were primarily due to decline in volume in the Renewables and Agtech segments in 2022 compared to 2021.

- 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.

+ References

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+ Details

Summary of Significant Accounting Policies (Summary of Activity Recorded within the Allowance for Doubtful Accounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 3,746	$ 3,738	$ 3,529
Bad debt expense, net of recoveries	3,148	1,221	898
Accounts written off against allowance and other adjustments	(1,322)	(1,213)	(689)
Ending balance	$ 5,572	$ 3,746	$ 3,738

Earnings per Share (Narrative) (Details) - shares	12 Months Ended
Earnings per Share (Narrative) (Details) - shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive number of shares	26,000	43,000	0

Exit Activity Costs and Asset Impairments (Summary Of Exit Activity Costs And Asset Impairments Recorded in the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 14,191	$ 8,315	$ 8,213
Cost of sales
Restructuring Cost and Reserve [Line Items]
Restructuring charges	12,634	5,258	6,176
Selling, general, and administrative expense
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1,557	$ 3,057	$ 2,037

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Summary of Significant Accounting Policies (Summary of Interest Capitalized and Depreciation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Depreciation expense	$ 16,139	$ 14,583	$ 13,110

Equity-Based Compensation (Cash Paid to Settle Liability Awards) (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
MSPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units credited	$ 2,392	$ 3,689	$ 4,915
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units credited (in shares)	48,921	12,365	30,475
Restricted stock units balance, vested and unvested (in shares)	199,946	158,644	223,892
Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
MSPP expense (recovery) (in thousands)	$ 4,710	$ (4,459)	$ 6,034

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Income Taxes (Provision for Income Taxes from Continuing Operations Differs from the Federal Statutory Rate) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Statutory rate	$ 31,288	$ 23,413	$ 20,908
State taxes, less federal effect	6,446	5,541	4,068
Federal tax credits	(787)	(549)	(587)
Excess tax benefit on stock based compensation	(203)	(214)	(2,039)
Executive compensation	1,369	960	1,781
Other	346	(67)	915
Provision for income taxes	$ 38,459	$ 29,084	$ 25,046
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory rate	21.00%	21.00%	21.00%
State taxes, less federal effect	4.30%	5.00%	4.10%
Federal tax credits	(0.50%)	(0.50%)	(0.60%)
Excess tax benefit on stock based compensation	(0.10%)	(0.20%)	(2.00%)
Executive compensation	0.90%	0.90%	1.80%
Other	0.20%	(0.10%)	0.90%
Effective income tax rate, percentage	25.80%	26.10%	25.20%

Debt (Schedule of Cash Paid for Interest) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Long-Term Debt, Unclassified [Abstract]
Interest expense, net	$ (3,002)	$ (4,047)	$ (1,639)
Interest income	679	174	269
Other adjustments	(128)	(679)	(345)
Cash paid for interest	$ 3,553	$ 3,542	$ 1,563

Exit Activity Costs and Asset Impairments

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Exit Activity Costs and Asset Impairments

EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTS

The 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, in the sale and exiting of less profitable businesses or products lines, and the reduction in the Company's manufacturing footprint.

As a result of process simplification initiatives, the Company has incurred exit activity costs (recoveries) related to moving and closing costs, severance and contract terminations, along with asset impairment charges related to the write-down of inventory and impairment of machinery and equipment associated with discontinued product lines. Additionally, the Company has incurred the aforementioned costs resulting from the sale, relocation and/or closure of facilities including two closures and one relocation in 2022 and four facility closures in 2021.

The following table sets forth the exit activity costs (recoveries) and asset impairment charges incurred by segment during the years ended December 31 related to the restructuring activities described above (in thousands):


	2023						2022				2021
	Exit Activity		Asset Impairment		Total		Exit Activity		Asset Impairment		Total		Exit Activity		Asset Impairment		Total
Renewables	$	7,558	$	1,136	$	8,694	$	3,256	$	1,198	$	4,454	$	4,769	$	1,193	$	5,962
Residential	960		3,851		4,811		1,825		12		1,837		393		—		393
Agtech	718		—		718		771		1,066		1,837		1,687		—		1,687
Infrastructure	—		—		—		(63)		—		(63)		26		—		26
Corporate	(32)		—		(32)		250		—		250		145		—		145
Total	$	9,204	$	4,987	$	14,191	$	6,039	$	2,276	$	8,315	$	7,020	$	1,193	$	8,213

The following table provides a summary of where the above exit activity costs and asset impairments are recorded in the consolidated statements of income for the years ended December 31 (in thousands):


	2023		2022		2021
Cost of sales	$	12,634	$	5,258	$	6,176
Selling, general, and administrative expense	1,557		3,057		2,037
Total exit activity costs and asset impairments	$	14,191	$	8,315	$	8,213

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


	2023		2022
Balance as of January 1	$	2,417	$	272
Exit activity costs recognized	9,204		6,039
Cash payments	(4,896)		(3,894)

Balance as of December 31	$	6,725	$	2,417

Acquisitions (Acquisition Related Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Total acquisition related costs	$ 265	$ 1,972	$ 949
Cost of sales
Business Acquisition [Line Items]
Total acquisition related costs	12	1,427	0
Selling, general and administrative costs
Business Acquisition [Line Items]
Total acquisition related costs	$ 253	$ 545	$ 949

Debt (Narrative) (Details)	Dec. 08, 2022 USD ($) debtCovenant	Jan. 24, 2019 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Carrying value of outstanding debt			$ 0
Debt Issuance Costs, Net			1,700,000
2022 Senior Credit Agreement \| Applicable rate through March 31, 2023
Debt Instrument [Line Items]
Annual commitment fee (as a percentage)	0.20%
2022 Senior Credit Agreement \| Base Rate \| Applicable rate through March 31, 2023
Debt Instrument [Line Items]
Initial applicable margin	0.125%
2022 Senior Credit Agreement \| Secured Overnight Financing Rate (SOFR) \| Applicable rate through March 31, 2023
Debt Instrument [Line Items]
Initial applicable margin	1.125%
2022 Senior Credit Agreement \| Minimum \| Applicable rate after April 1, 2023
Debt Instrument [Line Items]
Annual commitment fee (as a percentage)	0.20%
2022 Senior Credit Agreement \| Minimum \| Base Rate \| Applicable rate after April 1, 2023
Debt Instrument [Line Items]
Initial applicable margin	0.125%
2022 Senior Credit Agreement \| Minimum \| Secured Overnight Financing Rate (SOFR) \| Applicable rate after April 1, 2023
Debt Instrument [Line Items]
Initial applicable margin	1.125%
2022 Senior Credit Agreement \| Maximum \| Applicable rate after April 1, 2023
Debt Instrument [Line Items]
Annual commitment fee (as a percentage)	0.25%
2022 Senior Credit Agreement \| Maximum \| Base Rate \| Applicable rate after April 1, 2023
Debt Instrument [Line Items]
Initial applicable margin	1.00%
2022 Senior Credit Agreement \| Maximum \| Secured Overnight Financing Rate (SOFR) \| Applicable rate after April 1, 2023
Debt Instrument [Line Items]
Initial applicable margin	2.00%
Senior Credit Agreement \| Standby Letters of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity under the revolving credit facility			3,900,000
Senior Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Carrying value of outstanding debt				$ 91,000,000
Availability amount			$ 396,100,000	304,500,000
Revolving Credit Facility
Debt Instrument [Line Items]
Carrying value of outstanding debt				88,800,000
Debt Issuance Costs, Net				2,200,000
Long term debt gross				$ 91,000,000
Revolving Credit Facility \| 2022 Senior Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity	$ 400,000,000
Maximum borrowing capacity under the revolving credit facility	$ 700,000,000
Number of debt covenants \| debtCovenant	2
Revolving Credit Facility \| 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity		$ 400,000,000
Revolving Credit Facility \| 2019 Senior Credit Agreement \| Minimum
Debt Instrument [Line Items]
Annual commitment fee		0.15%
Revolving Credit Facility \| 2019 Senior Credit Agreement \| Minimum \| LIBOR
Debt Instrument [Line Items]
LIBOR floor, plus		1.125%
Revolving Credit Facility \| 2019 Senior Credit Agreement \| Maximum
Debt Instrument [Line Items]
Annual commitment fee		0.25%
Revolving Credit Facility \| 2019 Senior Credit Agreement \| Maximum \| LIBOR
Debt Instrument [Line Items]
LIBOR floor, plus		2.00%
Term Loan \| 2022 Senior Credit Agreement
Debt Instrument [Line Items]
Term loan (up to)	$ 300,000,000

Income Taxes (Benefit of) Provision for Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred:
Total deferred	$ 10,800	$ 6,337	$ 2,968
Provision for income taxes	38,459	29,084	25,046
Continuing Operations
Current:
U.S. Federal	21,579	17,014	16,137
State	6,048	5,647	5,009
Foreign	32	86	932
Total current	27,659	22,747	22,078
Deferred:
U.S. Federal	8,617	5,259	1,766
State	2,112	1,381	134
Foreign	71	(303)	1,068
Total deferred	10,800	6,337	2,968
Provision for income taxes	$ 38,459	$ 29,084	$ 25,046

Inventories, Net (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw material	$ 77,489	$ 111,187
Work-in-process	9,508	17,944
Finished goods	42,942	47,523
Gross inventory	129,939	176,654
Less reserves	(9,436)	(6,294)
Total inventories	$ 120,503	$ 170,360

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	42

Goodwill and Related Intangible Assets (Narrative) (Details)		12 Months Ended
	Oct. 31, 2023 unit	Dec. 31, 2023 USD ($) reporting_unit	Dec. 31, 2022 USD ($) reporting_unit	Dec. 31, 2021 reporting_unit
Goodwill [Line Items]
Accumulated impairment losses		$ 133,200,000	$ 133,200,000
Goodwill impairment		$ 0	0
Impairment of indefinite-lived intangibles			$ 0
Carrying amount in excess of fair value, number of reporting units \| reporting_unit		0	0	0
Impairment, Intangible Asset, Indefinite-Lived (Excluding Goodwill), Statement of Income or Comprehensive Income [Extensible Enumeration]			Goodwill and Intangible Asset Impairment
Number of reporting units \| unit	7
Trademarks
Goodwill [Line Items]
Impairment of indefinite-lived intangibles		$ 3,800,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Pension and Other Postretirement Benefits (Tables)

12 Months Ended

Dec. 31, 2023

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Total Expense for All Retirement Plans

Total expense for all retirement plans for the years ended December 31 was (in thousands):


	2023		2022		2021
401(k) plan	$	3,804	$	3,580	$	3,196
Multiemployer and other defined benefit and pension plans	92		79		78
Postretirement healthcare plan	251		342		411
Total retirement plan expense	$	4,147	$	4,001	$	3,685

Amounts Recognized in the Consolidated Financial Statements

Amounts recognized in the consolidated financial statements consisted of (in thousands):


	2023		2022
Accrued postretirement benefit liability:
Current portion	$	357	$	353
Long term portion	3,851		3,876
Pre-tax accumulated other comprehensive loss – unamortized post-retirement healthcare costs	(73)		(74)
Net amount recognized	$	4,135	$	4,155

Other Postretirement Benefits

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Changes in the Accumulated Postretirement Benefit Obligation

The following table presents the changes in the accumulated postretirement benefit obligation related to the Company’s unfunded postretirement healthcare benefits at December 31 (in thousands):


	2023		2022
Projected benefit obligation at January 1	$	4,229	$	6,202

Interest cost	194		127


Actuarial loss (gain)	59		(1,784)
Benefits paid, net of contributions	(274)		(316)
Projected benefit obligation at December 31	4,208		4,229
Fair value of plan assets	—		—
Under funded status	(4,208)		(4,229)
Unamortized prior service cost	292		352
Unrecognized actuarial (gain)	(219)		(278)
Net amount recognized	$	(4,135)	$	(4,155)

Schedule of Net Periodic Pension and Other Post-Retirement Benefit Costs

Components of net periodic postretirement benefit cost charged to expense for the years ended December 31 were as follows (in thousands):


	2023			2022			2021

Interest cost	$	194		$	127		$	125
Amortization of unrecognized prior service cost	60			60			44
Loss amortization (2)	—			24			113
Net periodic benefit cost	$	254		$	211		$	282
Assumptions used to calculate the benefit obligation:
Discount rate	4.7		%	4.8		%	2.4		%
Annual rate of increase in the per capita cost of:
Medical costs before age 65 (1)	7.8		%	7.8		%	7.0		%
Medical costs after age 65 (1)	4.6		%	4.5		%	4.5		%
Prescription drug costs (1)	7.8		%	7.8		%	7.0		%

(1) For 2023 and 2022, it was assumed that these rates would gradually decline to 4.0% by 2075. For 2021, it was assumed that these rates would gradually decline to 3.8% by 2075.

(2) Actuarial losses are amortized utilizing the corridor approach. Differences between actual experience and the actuarial assumptions are reflected in (gain)/loss. If the total net (gain) or loss exceeds 10 percent of the greater of the accumulated postretirement benefit obligation or plan assets, this excess must be amortized over the average remaining service period of the active plan participants. If most of the plan participants are inactive, the amortization period is the expected future lifetime of inactive plan participants.

Expected Benefit Payments from the Plan

Expected benefit payments from the plan for the years ended December 31 are as follows (in thousands):


	2024		2025		2026		2027		2028		Years 2029 - 2033
Expected benefit payments	$	357	$	370	$	362	$	361	$	356	$	1,646

Equity-Based Compensation (Summary of Information about Restricted Stock Units and Weighted Average Grant Date Fair Value) (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares	Dec. 31, 2020 shares	Mar. 31, 2023
Weighted Average Grant Date Fair Value (in dollars per share)
Shares for which performance condition was not achieved (in shares)		40,610	30,000
Target portion granted				0.605
Restricted stock units
Restricted Stock Units / Restricted Stock (in shares)
Balance at beginning of period (in shares)	235,370
Granted (in shares)	99,820
Adjustments (in shares)	0
Vested (in shares)	(77,312)
Forfeited (in shares)	(24,908)
Balance at end of period (in shares)	232,970	235,370
Weighted Average Grant Date Fair Value (in dollars per share)
Balance at beginning of period (in USD per share) \| $ / shares	$ 49.87
Granted (in USD per share) \| $ / shares	61.93
Adjustments (in USD per share) \| $ / shares	0
Vested (in USD per share) \| $ / shares	53.37
Forfeited (in USD per share) \| $ / shares	50.99
Balance at end of period (in USD per share) \| $ / shares	$ 53.75	$ 49.87
Common stock
Restricted Stock Units / Restricted Stock (in shares)
Balance at beginning of period (in shares)	0
Granted (in shares)	8,468
Adjustments (in shares)	0
Vested (in shares)	(8,468)
Forfeited (in shares)	0
Balance at end of period (in shares)	0	0
Weighted Average Grant Date Fair Value (in dollars per share)
Balance at beginning of period (in USD per share) \| $ / shares	$ 0
Granted (in USD per share) \| $ / shares	54.33
Adjustments (in USD per share) \| $ / shares	0
Vested (in USD per share) \| $ / shares	54.33
Forfeited (in USD per share) \| $ / shares	0
Balance at end of period (in USD per share) \| $ / shares	$ 0	$ 0
Performance stock units (1)
Restricted Stock Units / Restricted Stock (in shares)
Balance at beginning of period (in shares)	211,368
Granted (in shares)	85,323
Adjustments (in shares)	(70,610)
Vested (in shares)	(71,106)
Forfeited (in shares)	(18,729)
Balance at end of period (in shares)	136,246	211,368
Weighted Average Grant Date Fair Value (in dollars per share)
Balance at beginning of period (in USD per share) \| $ / shares	$ 50.96
Granted (in USD per share) \| $ / shares	53.22
Adjustments (in USD per share) \| $ / shares	50.72
Vested (in USD per share) \| $ / shares	51.74
Forfeited (in USD per share) \| $ / shares	49.69
Balance at end of period (in USD per share) \| $ / shares	$ 52.27	$ 50.96
Deferred Stock Units
Restricted Stock Units / Restricted Stock (in shares)
Balance at beginning of period (in shares)	40,350
Granted (in shares)	6,351
Adjustments (in shares)	0
Vested (in shares)	(2,222)
Forfeited (in shares)	0
Balance at end of period (in shares)	44,479	40,350
Weighted Average Grant Date Fair Value (in dollars per share)
Balance at beginning of period (in USD per share) \| $ / shares	$ 45.16
Granted (in USD per share) \| $ / shares	54.33
Adjustments (in USD per share) \| $ / shares	0
Vested (in USD per share) \| $ / shares	36.47
Forfeited (in USD per share) \| $ / shares	0
Balance at end of period (in USD per share) \| $ / shares	$ 46.90	$ 45.16
Minimum \| Performance stock units (1)
Weighted Average Grant Date Fair Value (in dollars per share)
Percent of grants awarded based on target threshold	0.00%
Maximum \| Performance stock units (1)
Weighted Average Grant Date Fair Value (in dollars per share)
Percent of grants awarded based on target threshold	200.00%
Award performance period		3 years
2018 Plan \| Return On Invested Capital \| Performance stock units (1)
Weighted Average Grant Date Fair Value (in dollars per share)
Award performance period	1 year

Property, Plant, and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Land and land improvements	$ 4,544	$ 4,704
Building and improvements	43,732	43,416
Machinery and equipment	231,275	223,843
Construction in progress	17,391	13,065
Property, plant, and equipment, gross	296,942	285,028
Less: accumulated depreciation	(189,339)	(175,444)
Property, plant, and equipment, net	$ 107,603	$ 109,584

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

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

The preliminary allocation of the 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):



Working capital	$	827
Property, plant, and equipment	195
Acquired intangible assets	5,200
Other assets	134
Other liabilities	(72)
Goodwill	4,133
Fair value of purchase consideration	$	10,417

The allocation of the 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	$	1,018
Working capital	23,372
Property, plant, and equipment	8,486
Acquired intangible assets	14,700
Other assets	1,813
Other liabilities	(1,295)
Goodwill	3,991
Fair value of purchase consideration	$	52,085

Schedule of Acquired Intangible Assets

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


	Fair Value		Weighted-Average Amortization Period

Trademarks	$	300	2 years

Customer relationships	4,900		12 years
Total	$	5,200

The intangible assets acquired in this acquisition consisted of the following as of the date of acquisition (in thousands):


	Fair Value		Weighted-Average Amortization Period
Trademarks	$	2,800	Indefinite


Customer relationships	11,900		12 years
Total	$	14,700

Schedule of Business Combination Costs

The acquisition-related costs consisted of the following for the years ended December 31 (in thousands):


	2023		2022		2021
Cost of sales	$	12	$	1,427	$	—
Selling, general and administrative costs	253		545		949
Total acquisition related costs	$	265	$	1,972	$	949

Summary of Significant Accounting Policies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Sale Leaseback Transaction [Line Items]
Number of reportable segments \| segment	4
Advertising costs \| $	$ 10.0	$ 10.9	$ 8.0
Minimum \| Land, Buildings and Improvements
Sale Leaseback Transaction [Line Items]
Estimated useful lives	15 years
Minimum \| Machinery and Equipment
Sale Leaseback Transaction [Line Items]
Estimated useful lives	3 years
Maximum \| Land, Buildings and Improvements
Sale Leaseback Transaction [Line Items]
Estimated useful lives	40 years
Maximum \| Machinery and Equipment
Sale Leaseback Transaction [Line Items]
Estimated useful lives	20 years
Residential \| Home Improvement Retail Company \| Accounts Receivable \| Customer Concentration Risk
Sale Leaseback Transaction [Line Items]
Concentrations of credit risk	13.00%	14.00%
Residential \| Home Improvement Retail Company \| Net sales \| Customer Concentration Risk
Sale Leaseback Transaction [Line Items]
Concentrations of credit risk	13.00%	14.00%	13.00%

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows from Operating Activities
Net income	$ 110,533	$ 82,406	$ 75,629
Income from discontinued operations	0	0	1,113
Income from continuing operations	110,533	82,406	74,516
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,378	26,167	31,966
Intangible asset impairment	3,797	0	8,300
Stock compensation expense	9,750	8,334	8,652
Exit activity costs, non-cash	2,771	16,266	1,193
Provision for deferred income taxes	10,800	6,337	2,968
Other, net	12,492	1,506	1,570
Changes in operating assets and liabilities net of effects from acquisitions:
Accounts receivable	(15,375)	32,754	(41,887)
Inventories	45,908	14,377	(85,763)
Other current assets and other assets	514	2,062	(426)
Accounts payable	(14,387)	(76,260)	38,367
Accrued expenses and other non-current liabilities	24,295	(11,258)	(14,384)
Net cash provided by operating activities of continuing operations	218,476	102,691	25,072
Net cash used in operating activities of discontinued operations	0	0	(2,002)
Net cash provided by operating activities	218,476	102,691	23,070
Cash Flows from Investing Activities
Purchases of property, plant, and equipment, net	(13,906)	(20,062)	(17,491)
Acquisitions, net of cash acquired	(9,863)	(51,621)	4,143
Net proceeds from sale of business	8,047	0	38,062
Net cash (used in) provided by investing activities of continuing operations	(15,722)	(71,683)	24,714
Net cash used in investing activities of discontinued operations	0	0	(176)
Net cash (used in) provided by investing activities	(15,722)	(71,683)	24,538
Cash Flows from Financing Activities
Long-term debt payments	(141,000)	(138,000)	(120,636)
Proceeds from long-term debt	50,000	204,500	59,500
Payment of debt issuance costs	0	(2,013)	0
Purchase of common stock at market prices	(29,329)	(89,494)	(6,497)
Net proceeds from issuance of common stock	0	0	1,021
Net cash used in financing activities	(120,329)	(25,007)	(66,612)
Effect of exchange rate changes on cash	(607)	(1,242)	(201)
Net increase (decrease) in cash and cash equivalents	81,818	4,759	(19,205)
Cash and cash equivalents at beginning of year	17,608	12,849	32,054
Cash and cash equivalents at end of year	$ 99,426	$ 17,608	$ 12,849

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Lease, Cost

The components of lease costs for the years ended December 31 were as follows (in thousands):


	2023		2022		2021
Operating lease cost	$	12,940	$	11,191	$	10,977
Short-term lease cost	4,645		5,694		7,153
Total lease cost	$	17,585	$	16,885	$	18,130

Information related to the Company's operating right-of-use assets and related operating lease liabilities for the years ended December 31 were as follows (in thousands):


	2023		2022		2021
Cash paid for amounts included in the measurement of operating liabilities	$	10,628	$	8,835	$	9,431
Right-of-use assets obtained in exchange for new lease liabilities	$	27,468	$	17,008	$	1,084

Information related to the Company's lease terms and discount rates as of December 31 were as follows:


	2023		2022
Weighted-average remaining lease term - operating leases	6.6	years	5.3	years
Weighted-average discount rate - operating leases	5.0	%	5.0	%

Lessee, Operating Lease, Liability, Maturity

The future maturity of the Company's lease liabilities as of December 31, 2023 were as follows (in thousands):


2024	$	12,329
2025	9,748
2026	6,304
2027	4,775
2028	4,391
After 2028	17,191
Total lease payments	54,738
Less: present value discount	(8,471)
Present value of lease liabilities	$	46,267

Earnings per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings per Share

EARNINGS PER SHARE

Weighted average shares outstanding for basic and diluted earnings were as follows for the years ended December 31 (in thousands):


	2023		2022		2021
Numerator:
Income from continuing operations	$	110,533	$	82,406	$	74,516
Income from discontinued operations	—		—		1,113
Net income available to common shareholders	$	110,533	$	82,406	$	75,629
Denominator for basic earnings per share:
Weighted average shares outstanding	30,626		32,096		32,873
Denominator for diluted earnings per share:
Common stock options and stock units	159		96		181
Weighted average shares and conversions	30,785		32,192		33,054

The following table provides the potential anti-dilutive common stock units not included in the diluted weighted average shares calculations for the years ended December 31 (in thousands):


	2023	2022	2021
Common stock units	26	43	—

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Balance, shares at Dec. 31, 2020		33,568,000				1,028,000
Balance at Dec. 31, 2020	$ 743,805	$ 336	$ 304,870	$ 469,943	$ (2,461)	$ (28,883)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	75,629			75,629
Foreign currency translation adjustment	2,512				2,512
Adjustment to post-retirement healthcare benefit liability, net of taxes	136				136
Stock compensation expense	8,652		8,652
Net settlement of restricted stock units, shares		192,000				79,000
Net settlement of restricted stock units	$ (6,497)	$ 2	(2)			$ (6,497)
Issuance of restricted stock, shares		3,000
Stock options exercised, shares	36,500	36,000
Common stock repurchased under stock repurchase program	$ 1,021		1,021
Balance, shares at Dec. 31, 2021		33,799,000				1,107,000
Balance at Dec. 31, 2021	825,258	$ 338	314,541	545,572	187	$ (35,380)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Minimum pension and post retirement benefit plan adjustments, net of taxes	(43)
Net income	82,406			82,406
Foreign currency translation adjustment	(5,022)				(5,022)
Adjustment to post-retirement healthcare benefit liability, net of taxes	1,403				1,403
Stock compensation expense	8,334		8,334
Net settlement of restricted stock units, shares		245,000				95,000
Net settlement of restricted stock units	(4,404)	$ 2	(2)			$ (4,404)
Issuance of restricted stock, shares		16,000
Common stock repurchased under stock repurchase program (in shares)						1,997,000
Common stock repurchased under stock repurchase program	(85,876)					$ (85,876)
Balance, shares at Dec. 31, 2022		34,060,000				3,199,000
Balance at Dec. 31, 2022	822,099	$ 340	322,873	627,978	(3,432)	$ (125,660)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Minimum pension and post retirement benefit plan adjustments, net of taxes	(449)
Net income	110,533			110,533
Foreign currency translation adjustment	1,204				1,204
Adjustment to post-retirement healthcare benefit liability, net of taxes	114				114
Stock compensation expense	9,750		9,750
Net settlement of restricted stock units, shares		151,000				58,000
Net settlement of restricted stock units	(3,362)	$ 2	(2)			$ (3,362)
Issuance of restricted stock, shares		8,000
Common stock repurchased under stock repurchase program (in shares)						521,000
Common stock repurchased under stock repurchase program	$ (25,181)					$ (25,181)
Stock options exercised, shares	0
Excise tax on repurchase of common shares	$ (159)					$ (159)
Balance, shares at Dec. 31, 2023		34,219,000				3,778,000
Balance at Dec. 31, 2023	914,998	$ 342	$ 332,621	$ 738,511	$ (2,114)	$ (154,362)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Minimum pension and post retirement benefit plan adjustments, net of taxes	$ (36)

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net income	$ 110,533	$ 82,406	$ 75,629
Other comprehensive income (loss):
Foreign currency translation adjustment	1,204	(5,022)	2,512
Adjustment to postretirement benefit liability, net of tax	114	1,403	136
Other comprehensive income (loss)	1,318	(3,619)	2,648
Total comprehensive income	$ 111,851	$ 78,787	$ 78,277

- Definition

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

+ References

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+ Details

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Equity-Based Compensation (Summary of Stock Option Transactions) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options (in shares):
Beginning balance (in shares)	5,000	5,000	41,500
Exercised (in shares)	0		(36,500)
Forfeited (in shares)		0
Ending balance (in shares)	5,000	5,000	5,000
Weighted Average Exercise Price (in dollars per share)
Beginning balance (in dollars per share)	$ 39.55	$ 39.55	$ 29.38
Exercised (in dollars per share)	0		27.99
Forfeited (in dollars per share)		0
Ending balance (in dollars per share)	$ 39.55	$ 39.55	$ 39.55
Weighted Average Remaining Contractual Life (in years)	3 years 3 months 3 days
Aggregate Intrinsic Value	$ 197,150

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is a party to certain claims and legal actions generally incidental to its business. Management does not believe that the outcome of any claims, or other claims which are not clearly determinable at the present time, would result in a material adverse effect on the Company's financial condition or results of operations.

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Minimum pension and post retirement benefit plan adjustments, net of taxes	$ (36)	$ (449)	$ (43)

Goodwill and Related Intangible Assets (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	$ 152,931	$ 157,107
Total acquired intangible assets, Gross Carrying Amount	205,231	212,607
Accumulated Amortization, Finite-lived intangible assets	79,251	75,081
Total acquired intangible assets, Accumulated Amortization	79,251	75,081
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	5,773	5,448
Accumulated Amortization, Finite-lived intangible assets	4,714	4,481
Unpatented technology and patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	34,133	34,163
Accumulated Amortization, Finite-lived intangible assets	24,295	22,037
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	110,649	115,125
Accumulated Amortization, Finite-lived intangible assets	48,088	46,557
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets	2,376	2,371
Accumulated Amortization, Finite-lived intangible assets	2,154	2,006
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Indefinite-lived intangible assets	52,300	55,500
Accumulated Amortization, Indefinite-lived intangible assets	$ 0	$ 0

Acquisitions

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

2023 Acquisition

On July 5, 2023, the Company acquired the assets of a privately held Utah-based company that manufactures and distributes roof flashing and accessory products, and sells direct to roofing wholesalers. The results of this acquisition have been included in the Company's consolidated financial results since the date of acquisition within the Company's Residential segment. The preliminary purchase consideration for this acquisition was $10.4 million, which includes a preliminary working capital adjustment and certain other adjustments provided for in the asset purchase agreement.

The purchase price for the 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 value of such assets and liabilities and to determine the amount of goodwill to be recognized as of the date of acquisition. Due to the timing of the acquisition, the Company continues 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 $4.1 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 building products markets. The final purchase price allocation will be completed no later than the third quarter of fiscal year 2024.

The preliminary allocation of the 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):



Working capital	$	827
Property, plant, and equipment	195
Acquired intangible assets	5,200
Other assets	134
Other liabilities	(72)
Goodwill	4,133
Fair value of purchase consideration	$	10,417

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


	Fair Value		Weighted-Average Amortization Period

Trademarks	$	300	2 years

Customer relationships	4,900		12 years
Total	$	5,200

2022 Acquisition

On August 22, 2022, the Company purchased all the issued and outstanding membership interests of Quality Aluminum Products ("QAP"), a manufacturer of aluminum and steel products including soffit, fascia, trim coil, rain carrying products and aluminum siding. The results of QAP have been included in the Company's consolidated financial results since the date of acquisition within the Company's Residential segment. The purchase consideration for the acquisition of QAP was $52.1 million, which includes a working capital adjustment and certain other adjustments provided for in the membership interest purchase agreement.

The purchase price for the acquisition was allocated to the assets acquired and liabilities assumed based upon their respective fair values estimated as of the date of acquisition. The Company has completed the process to confirm the existence, condition, and completeness of the assets acquired and liabilities assumed to establish fair value of such assets and liabilities and to determine the amount of goodwill to be recognized as of the date of acquisition. The excess consideration was recorded as goodwill and approximated $4.0 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 building products markets.

The allocation of the 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	$	1,018
Working capital	23,372
Property, plant, and equipment	8,486
Acquired intangible assets	14,700
Other assets	1,813
Other liabilities	(1,295)
Goodwill	3,991
Fair value of purchase consideration	$	52,085

The intangible assets acquired in this acquisition consisted of the following as of the date of acquisition (in thousands):


	Fair Value		Weighted-Average Amortization Period
Trademarks	$	2,800	Indefinite


Customer relationships	11,900		12 years
Total	$	14,700

The acquisition of the privately held Utah-based company and the acquisition of QAP were financed primarily through borrowings under the Company's revolving credit facility.

The Company recognized costs as a component of cost of sales related to the sale of inventory at fair value as a result of allocating the purchase price of recent acquisitions. The Company also incurred certain acquisition-related costs comprised of legal and consulting fees. These costs were recognized as a component of selling, general, and administrative expenses in the consolidated statements of income.

The acquisition-related costs consisted of the following for the years ended December 31 (in thousands):


	2023		2022		2021
Cost of sales	$	12	$	1,427	$	—
Selling, general and administrative costs	253		545		949
Total acquisition related costs	$	265	$	1,972	$	949

Income Taxes (Narrative) (Details) - USD ($)	12 Months Ended
Income Taxes (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Statutory tax rate, percentage	21.00%	21.00%	21.00%
Deferred tax assets, net of operating losses	$ 17,500,000
Deferred tax assets, net of operating losses	1,100,000
Undistributed earnings of foreign subsidiaries	1,400,000
Capital loss carryforward	110,000,000		$ 113,700,000
Amended returns			3,700,000
Deferred tax assets, capital loss carryforwards	26,527,000	$ 26,490,000
Interest and penalties recognized	$ 0	$ 0	$ 0
Minimum
Operating Loss Carryforwards [Line Items]
Statute of limitations expiration period, in years	4 years
Maximum
Operating Loss Carryforwards [Line Items]
Statute of limitations expiration period, in years	10 years
Federal
Operating Loss Carryforwards [Line Items]
Deferred tax assets, net of operating losses	$ 300,000
Deferred tax assets, net of operating losses	100,000
Deferred tax assets, capital loss carryforwards	22,200,000
State
Operating Loss Carryforwards [Line Items]
Deferred tax assets, net of operating losses	16,500,000
Deferred tax assets, net of operating losses	800,000
Deferred tax assets, capital loss carryforwards	4,300,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Deferred tax assets, net of operating losses	700,000
Deferred tax assets, net of operating losses	$ 200,000

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Information

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 designing, engineering and manufacturing of 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 solutions including the designing, engineering, manufacturing and installation of greenhouses; and

(iv)Infrastructure, which primarily includes designing, engineering and manufacturing of 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.

The following tables illustrate certain measurements used by management to assess the performance of the segments described above as of and for the years ended December 31 (in thousands):


	2023		2022		2021
Net sales:
Renewables	$	330,738	$	377,567	$	432,096
Residential	814,803		767,248		635,505
Agtech	144,967		168,868		199,161
Infrastructure	87,228		76,283		73,021
Total consolidated net sales	$	1,377,736	$	1,389,966	$	1,339,783

Income from operations:
Renewables	$	30,160	$	25,243	$	20,158
Residential	143,068		126,458		105,821
Agtech	(928)		2,914		(931)
Infrastructure	18,529		9,003		8,911
Segments income from operations	190,829		163,618		133,959
Unallocated corporate expenses	(40,100)		(33,516)		(36,971)
Total income from operations	$	150,729	$	130,102	$	96,988

Depreciation and Amortization
Renewables	$	8,671	$	8,467	$	14,682
Residential	10,080		8,983		8,694
Agtech	3,789		4,377		5,279
Infrastructure	3,137		3,150		3,092
Unallocated corporate expenses	1,701		1,190		219
	$	27,378	$	26,167	$	31,966


	2023		2022		2021
























Total assets
Renewables	$	377,694	$	392,368	$	445,486
Residential	515,739		519,567		453,469
Agtech	168,213		193,966		212,038
Infrastructure	77,518		80,264		82,662
Unallocated corporate assets	117,287		24,448		21,246

	$	1,256,451	$	1,210,613	$	1,214,901

Capital expenditures
Renewables	$	1,113	$	3,589	$	4,268
Residential	6,913		10,050		4,182
Agtech	1,419		3,177		3,289
Infrastructure	1,313		1,898		2,097
Unallocated corporate expenditures	4,239		1,424		3,869
	$	14,997	$	20,138	$	17,705

The following tables illustrate revenue disaggregated by timing of transfer of control to the customer for the years ended December 31 (in thousands):


	2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	49,123	$	808,225	$	4,920	$	31,547	$	893,815
Over Time	281,615		6,578		140,047		55,681		483,921
Total	$	330,738	$	814,803	$	144,967	$	87,228	$	1,377,736

	2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	27,317	$	761,576	$	13,011	$	32,983	$	834,887
Over Time	350,250		5,672		155,857		43,300		555,079
Total	$	377,567	$	767,248	$	168,868	$	76,283	$	1,389,966

	2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	28,630	$	630,494	$	20,157	$	32,512	$	711,793
Over Time	403,466		5,011		179,004		40,509		627,990
Total	$	432,096	$	635,505	$	199,161	$	73,021	$	1,339,783

Net sales by region or origin and long-lived assets by region of domicile for the years ended and as of December 31 were as follows (in thousands):


	2023		2022		2021
Net sales
North America	$	1,366,012	$	1,373,907	$	1,318,795

Asia	11,724		16,059		20,988
Total	$	1,377,736	$	1,389,966	$	1,339,783

Long-lived assets
North America	$	154,778	$	136,553	$	97,003

Asia	59		234		365
Total	$	154,837	$	136,787	$	97,368

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ (3,777)	$ (607)
Balance at end of period	(2,423)	(3,777)	$ (607)
Tax Benefit (Expense)
Balance at beginning of period	345	794
Balance at end of period	309	345	794
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(3,432)	187
Foreign currency translation adjustment	1,318	(3,619)	2,648
Balance at end of period	(2,114)	(3,432)	187
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(3,382)	1,640
Other Comprehensive Income (Loss), before Tax	1,204	(5,022)
Balance at end of period	(2,178)	(3,382)	1,640
Tax Benefit (Expense)
Tax Benefit (Expense)	0	0
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Foreign currency translation adjustment	1,204	(5,022)
Postretirement Benefit Plan Adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(395)	(2,247)
Other Comprehensive Income (Loss), before Tax	150	1,852
Balance at end of period	(245)	(395)	$ (2,247)
Tax Benefit (Expense)
Tax Benefit (Expense)	(36)	(449)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Postretirement benefit plan adjustments	$ 114	$ 1,403

Property, Plant, and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Components of Property, Plant, and Equipment

The table below sets forth the depreciation expense recognized during the years ended December 31 (in thousands):


	2023		2022		2021
Depreciation expense	$	16,139	$	14,583	$	13,110

Components of property, plant, and equipment at December 31 consisted of the following (in thousands):


	2023		2022
Land and land improvements	$	4,544	$	4,704
Building and improvements	43,732		43,416
Machinery and equipment	231,275		223,843
Construction in progress	17,391		13,065
Property, plant, and equipment, gross	296,942		285,028
Less: accumulated depreciation	(189,339)		(175,444)
Property, plant, and equipment, net	$	107,603	$	109,584

Equity-Based Compensation (Schedule of Number of Awards and Weighted Average Grant Date Fair Value) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	6,351
Weighted Average Grant Date Fair Value (in USD per share)	$ 54.33
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	8,468
Weighted Average Grant Date Fair Value (in USD per share)	$ 54.33
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	99,820
Weighted Average Grant Date Fair Value (in USD per share)	$ 61.93
Performance stock units (1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	85,323
Weighted Average Grant Date Fair Value (in USD per share)	$ 53.22
2019 \| Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	6,351
Weighted Average Grant Date Fair Value (in USD per share)	$ 54.33
2019 \| Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	8,468
Weighted Average Grant Date Fair Value (in USD per share)	$ 54.33
2019 \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	99,820
Weighted Average Grant Date Fair Value (in USD per share)	$ 61.93
2019 \| Performance stock units (1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)	85,323
Weighted Average Grant Date Fair Value (in USD per share)	$ 53.22
2018 \| Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)		2,460
Weighted Average Grant Date Fair Value (in USD per share)		$ 42.69
2018 \| Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)		15,652
Weighted Average Grant Date Fair Value (in USD per share)		$ 42.49
2018 \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)		132,430
Weighted Average Grant Date Fair Value (in USD per share)		$ 43.92
2018 \| Performance stock units (1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)		108,464
Weighted Average Grant Date Fair Value (in USD per share)		$ 47.00
2017 \| Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)			7,536
Weighted Average Grant Date Fair Value (in USD per share)			$ 83.58
2017 \| Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)			2,512
Weighted Average Grant Date Fair Value (in USD per share)			$ 83.58
2017 \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)			72,243
Weighted Average Grant Date Fair Value (in USD per share)			$ 79.28
2017 \| Performance stock units (1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Awards (in shares)			62,778
Weighted Average Grant Date Fair Value (in USD per share)			$ 87.84

Leases - Maturity of Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 12,329
2025	9,748
2026	6,304
2027	4,775
2028	4,391
After 2028	17,191
Total lease payments	54,738
Less: present value discount	(8,471)
Present value of lease liabilities	$ 46,267

Segment Information (Net Sales by Contract Type) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Net sales:	$ 1,377,736	$ 1,389,966	$ 1,339,783
Renewables
Disaggregation of Revenue [Line Items]
Net sales:	330,738	377,567	432,096
Residential
Disaggregation of Revenue [Line Items]
Net sales:	814,803	767,248	635,505
Agtech
Disaggregation of Revenue [Line Items]
Net sales:	144,967	168,868	199,161
Infrastructure
Disaggregation of Revenue [Line Items]
Net sales:	87,228	76,283	73,021
Point in Time
Disaggregation of Revenue [Line Items]
Net sales:	893,815	834,887	711,793
Point in Time \| Renewables
Disaggregation of Revenue [Line Items]
Net sales:	49,123	27,317	28,630
Point in Time \| Residential
Disaggregation of Revenue [Line Items]
Net sales:	808,225	761,576	630,494
Point in Time \| Agtech
Disaggregation of Revenue [Line Items]
Net sales:	4,920	13,011	20,157
Point in Time \| Infrastructure
Disaggregation of Revenue [Line Items]
Net sales:	31,547	32,983	32,512
Over Time
Disaggregation of Revenue [Line Items]
Net sales:	483,921	555,079	627,990
Over Time \| Renewables
Disaggregation of Revenue [Line Items]
Net sales:	281,615	350,250	403,466
Over Time \| Residential
Disaggregation of Revenue [Line Items]
Net sales:	6,578	5,672	5,011
Over Time \| Agtech
Disaggregation of Revenue [Line Items]
Net sales:	140,047	155,857	179,004
Over Time \| Infrastructure
Disaggregation of Revenue [Line Items]
Net sales:	$ 55,681	$ 43,300	$ 40,509

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- 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

+ Details

Debt

12 Months Ended

Dec. 31, 2023

Long-Term Debt, Unclassified [Abstract]

Debt

DEBT

The Company had no outstanding debt as of December 31, 2023 and unamortized debt issuance costs, included in other assets on the consolidated balance sheet, were $1.7 million. As of December 31, 2022, the Company's total outstanding debt was $88.8 million, which included $91.0 million on the Company's revolving credit facility net of $2.2 million in unamortized debt issuance costs.

Revolving Credit Facility

On December 8, 2022, the Company entered into a Credit Agreement (the "Credit Agreement"), and concurrently with entering into the Credit Agreement, the Company paid off all amounts owed under the Sixth Amended and Restated Credit Agreement (the "Prior Credit Agreement") dated as of January 24, 2019, which was terminated without any prepayment penalties. The Credit Agreement provides for a revolving credit facility and letters of credit in an aggregate amount equal to $400 million. The Company can request additional financing 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 Credit Agreement. The Credit Agreement contains two financial covenants. As of December 31, 2023, the Company was in compliance with all financial covenants. The Credit Agreement terminates on December 8, 2027.

Borrowings under the Credit Agreement bear interest, at the Company’s option, at a rate equal to the applicable margin plus (a) a base rate, (b) a daily simple secured overnight financing rate ("SOFR") rate, (c) a term SOFR rate or (d) for certain foreign currencies, a foreign currency rate, in each case subject to a 0% floor. Through March 31, 2023, the Credit Agreement had an initial applicable margin of 0.125% for base rate loans and 1.125% for SOFR and alternative currency loans. Thereafter, the applicable margin ranges from 0.125% to 1.00% for base rate loans and from 1.125% to 2.00% for SOFR and alternative currency loans based on the Company’s Total Net Leverage Ratio, as defined in the Credit Agreement. In addition, the Credit Agreement is subject to an annual commitment fee, payable quarterly, which was initially 0.20% of the daily average undrawn balance of the revolving credit facility and, from and after April 1, 2023, ranges between 0.20% and 0.25% of the daily average undrawn balance of the revolving credit facility based on the Company’s Total Net Leverage Ratio.

Borrowings under the Credit Agreement are secured by the trade receivables, inventory, personal property, equipment, and general intangibles of the Company’s significant domestic subsidiaries. Capital distributions are subject to certain Total Net Leverage Ratio requirements and capped by an annual aggregate limit under the Credit Agreement.

The Prior Credit Agreement provided a revolving credit facility and letters of credit in an aggregate amount equal to $400 million. Interest rates on the revolving credit facility under the Prior Credit Agreement were based on LIBOR plus an additional margin that ranges from 1.125% to 2.00%. In addition, the revolving credit facility under the Prior Credit Agreement was subject to an undrawn commitment fee ranging between 0.15% and 0.25% based on the Total Leverage Ratio and the daily average undrawn balance. The Prior Credit Agreement terminated on December 8, 2022.

Standby letters of credit of $3.9 million have been issued under the Credit Agreement to third parties on behalf of the Company as of December 31, 2023. These letters of credit reduce the amount otherwise available under the Credit Agreement's revolving credit facility. The Company had $396.1 million and $304.5 million of availability under the revolving credit facility as of December 31, 2023 and 2022, respectively.

Total cash paid for interest in the years ended December 31 was (in thousands):


	2023		2022		2021
Interest expense, net	$	3,002	$	4,047	$	1,639
Interest income	679		174		269
Other adjustments	(128)		(679)		(345)
Cash paid for interest	$	3,553	$	3,542	$	1,563

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

LEASES

The Company's leases are classified as operating leases and consist of manufacturing facilities, distribution centers, office space, vehicles and equipment.

Most of the Company's leases include one or more options to renew, with renewal terms that can extend the respective lease term from one month to ten years. The exercise of lease renewal options is at the Company's sole discretion. As of December 31, 2023 and 2022, the Company's renewal options are not part of the Company's operating lease assets and operating lease liabilities. Certain leases also include options to purchase at fair value the underlying leased asset at the Company's sole discretion.

The components of lease costs for the years ended December 31 were as follows (in thousands):


	2023		2022		2021
Operating lease cost	$	12,940	$	11,191	$	10,977
Short-term lease cost	4,645		5,694		7,153
Total lease cost	$	17,585	$	16,885	$	18,130

Information related to the Company's operating right-of-use assets and related operating lease liabilities for the years ended December 31 were as follows (in thousands):


	2023		2022		2021
Cash paid for amounts included in the measurement of operating liabilities	$	10,628	$	8,835	$	9,431
Right-of-use assets obtained in exchange for new lease liabilities	$	27,468	$	17,008	$	1,084

Information related to the Company's lease terms and discount rates as of December 31 were as follows:


	2023		2022
Weighted-average remaining lease term - operating leases	6.6	years	5.3	years
Weighted-average discount rate - operating leases	5.0	%	5.0	%

The future maturity of the Company's lease liabilities as of December 31, 2023 were as follows (in thousands):


2024	$	12,329
2025	9,748
2026	6,304
2027	4,775
2028	4,391
After 2028	17,191
Total lease payments	54,738
Less: present value discount	(8,471)
Present value of lease liabilities	$	46,267

The Company uses its incremental borrowing rate based on information available at the commencement date of a lease in determining the present value of lease payments as the rates implicit in most of the Company's leases are not readily determinable.

Fair Value Measurements (Narrative) (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Extinguishment of Debt [Line Items]
Carrying value of outstanding debt	$ 0
Revolving Credit Facility \| Senior Credit Agreement
Extinguishment of Debt [Line Items]
Carrying value of outstanding debt		$ 91,000,000

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Goodwill and Related Intangible Assets (Schedule of Future Amortization Expense) (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 10,599
2025	10,386
2026	9,320
2027	7,979
2028	$ 7,184

Discontinued Operations	12 Months Ended
Discontinued Operations	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	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, 2021. Net proceeds of $38 million, consisting of cash and a $13 million seller note, resulted in a pre-tax loss of $30 million, 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 seller note was paid in full to the Company during the second quarter of 2021. The results of operations of the Industrial business have been presented as a discontinued operation in the Company's consolidated statements of income for all periods presented. There was no income from discontinued operations before taxes for the years ended December 31, 2023 and 2022. For the year ended December 31, 2021, income from discontinued operations before taxes of $1.5 million consisted of net sales of $20.4 million, operating expenses of $17.5 million, and adjustment to loss on disposal of $1.4 million. On December 1, 2023, the Company sold its Japan-based solar racking business within its Renewables segment to a third party. The $8.0 million net proceeds from the sale resulted in a pre-tax net loss of $0.6 million and has been presented within other (income) expense in the consolidated statements of income. This divestiture did not meet the criteria to be recorded as a discontinued operation nor did it have a major effect on the Company's operations.

Pension and Other Postretirement Benefits (Expected Benefit Payments from the Plan) (Details) - Unamortized Post-Retirement Health Care Costs $ in Thousands	Dec. 31, 2023 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
2024	$ 357,000
2025	370,000
2026	362,000
2027	361,000
2028	356,000
Years 2029 - 2033	$ 1,646,000

Goodwill and Related Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Related Intangible Assets

GOODWILL AND RELATED INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill for the years ended December 31 were as follows (in thousands):


	Renewables		Residential		Agtech		Infrastructure		Total
Balance at December 31, 2021	$	188,680	$	205,452	$	85,132	$	31,678	$	510,942
Acquired goodwill	—		3,604		—		—		3,604
Adjustment to prior year acquisition	904		—		—		—		904

Foreign currency translation	(1,554)		—		(1,533)		—		(3,087)
Balance at December 31, 2022	188,030		209,056		83,599		31,678		512,363
Acquired goodwill	—		4,133		—		—		4,133
Adjustment to prior year acquisition	—		387		—		—		387
Foreign currency translation	(1,132)		—		300		—		(832)
Sale of business	(2,668)		—		—		—		(2,668)
Balance at December 31, 2023	$	184,230	$	213,576	$	83,899	$	31,678	$	513,383

Goodwill is recognized net of accumulated impairment losses of $133.2 million as of December 31, 2023 and 2022, respectively. No goodwill impairment charges were recognized by the Company during 2023 or 2022.

Annual and Interim Impairment Testing

The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis as of October 31 and at interim dates when indicators of impairment are present. In 2023, 2022 and 2021, no indicators of impairment were identified as of interim dates; therefore, no interim tests were performed.

During the October 31, 2023 impairment test, the Company conducted a quantitative analysis for all seven of the Company’s reporting units. The quantitative impairment test consists of comparing the fair value of a reporting unit with its carrying value including goodwill. The fair value of each reporting unit evaluated under the quantitative test was determined using two valuation techniques: an income approach and a market approach. Each valuation approach relies on significant assumptions including a weighted average cost of capital ("WACC") based upon the capital structure of market participants in the Company’s peer groups, projected revenue growth, forecasted cash flows, and earnings multiples based on the market value of the Company and market participants within its peer groups.

As a result of the Company's annual testing for 2023, 2022 and 2021, none of the reporting units with goodwill as of the testing date had carrying values in excess of their fair values.

Acquired Intangible Assets

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


	December 31, 2023				December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite-lived intangible assets:
Trademarks	$	52,300	$	—	$	55,500	$	—
Finite-lived intangible assets:
Trademarks	5,773		4,714		5,448		4,481
Unpatented technology	34,133		24,295		34,163		22,037
Customer relationships	110,649		48,088		115,125		46,557
Non-compete agreements	2,376		2,154		2,371		2,006

	152,931		79,251		157,107		75,081
Total acquired intangible assets	$	205,231	$	79,251	$	212,607	$	75,081

During the year ended December 31, 2023, the Company recognized impairment charges of $3.8 million related to indefinite-lived trademark intangible assets due to a rebranding initiative that resulted in the discontinuation of certain indefinite-lived trademarks in the Agtech segment, along with the write-off of amortizing intangibles related to a discontinued product line in the Renewables segment. The Company recognized no impairment charges related to intangible assets during the year ended December 31, 2022.

The Company recognized amortization expense related to the definite-lived intangible assets. The following table summarizes amortization expense for the years ended December 31 (in thousands):


	2023		2022		2021
Amortization expense	$	11,239	$	11,584	$	18,856

Amortization expense related to acquired intangible assets for the next five years ended December 31 is estimated as follows (in thousands):


	2024		2025		2026		2027		2028
Amortization expense	$	10,599	$	10,386	$	9,320	$	7,979	$	7,184

Exit Activity Costs and Asset Impairments (Reconciles Of Liability For Exit Activity Costs Relating To Facility Consolidation Efforts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Balance as of	$ 2,417	$ 272
Exit activity costs recognized	9,204	6,039	$ 7,020
Cash payments	(4,896)	(3,894)
Balance as of	$ 6,725	$ 2,417	$ 272

Accumulated Other Comprehensive (Loss) Income (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The cumulative balance of each component of accumulated other comprehensive (loss) income is as follows (in thousands):


	Foreign Currency Translation Adjustment		Postretirement Benefit Plan Adjustments		Total Pre- Tax Amount		Tax Benefit (Expense)		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2021	$	1,640	$	(2,247)	$	(607)	$	794	$	187
Postretirement benefit plan adjustments	—		1,852		1,852		(449)		1,403
Foreign currency translation adjustment	(5,022)		—		(5,022)		—		(5,022)
Balance at December 31, 2022	(3,382)		(395)		(3,777)		345		(3,432)
Postretirement benefit plan adjustments	—		150		150		(36)		114
Foreign currency translation adjustment	1,204		—		1,204		—		1,204
Balance at December 31, 2023	$	(2,178)	$	(245)	$	(2,423)	$	309	$	(2,114)

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 5,572	$ 3,746
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)	100,000,000	100,000,000
Common stock, shares issued (in shares)	34,219,000	34,060,000
Common stock, shares outstanding (in shares)	34,219,000	34,060,000
Treasury stock, shares (in shares)	3,778,000	3,199,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 99,426	$ 17,608
Accounts receivable, net of allowance of $5,572 and $3,746, respectively	224,550	217,156
Inventories, net	120,503	170,360
Prepaid expenses and other current assets	17,772	18,813
Total current assets	462,251	423,937
Property, plant, and equipment, net	107,603	109,584
Operating lease assets	44,918	26,502
Goodwill	513,383	512,363
Acquired intangibles	125,980	137,526
Other assets	2,316	701
Total assets	1,256,451	1,210,613
Current liabilities:
Accounts payable	92,124	106,582
Accrued expenses	88,719	73,721
Billings in excess of costs	44,735	35,017
Total current liabilities	225,578	215,320
Long-term debt	0	88,762
Deferred income taxes	57,103	47,088
Non-current operating lease liabilities	35,989	19,041
Other non-current liabilities	22,783	18,303
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized 10,000 shares; none outstanding	0	0
Common stock, $0.01 par value; authorized 100,000 shares; 34,219 and 34,060 shares issued and outstanding in 2023 and 2022	342	340
Additional paid-in capital	332,621	322,873
Retained earnings	738,511	627,978
Accumulated other comprehensive loss	(2,114)	(3,432)
Cost of 3,778 and 3,199 common shares held in treasury in 2023 and 2022	(154,362)	(125,660)
Total stockholders’ equity	914,998	822,099
Total liabilities and shareholders' equity	$ 1,256,451	$ 1,210,613

Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Receivables [Abstract]
Trade accounts receivable	$ 178,087	$ 179,170
Costs in excess of billings	52,035	41,732
Total contract receivables	230,122	220,902
Less allowance for doubtful accounts	(5,572)	(3,746)	$ (3,738)	$ (3,529)
Accounts receivable	$ 224,550	$ 217,156

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales:	$ 1,377,736	$ 1,389,966	$ 1,339,783
Cost of sales	1,015,770	1,071,272	1,049,772
Gross profit	361,966	318,694	290,011
Selling, general, and administrative expense	207,440	188,592	184,723
Intangible asset impairment	3,797	0	8,300
Income from operations	150,729	130,102	96,988
Interest expense, net	3,002	4,047	1,639
Other (income) expense	(1,265)	14,565	(4,213)
Income before taxes	148,992	111,490	99,562
Provision for income taxes	38,459	29,084	25,046
Income from continuing operations	110,533	82,406	74,516
Discontinued operations:
Income before taxes	0	0	1,479
Provision for income taxes	0	0	366
Income from discontinued operations	0	0	1,113
Net income	$ 110,533	$ 82,406	$ 75,629
Net earnings per share – Basic:
Income from continuing operations (in dollars per share)	$ 3.61	$ 2.57	$ 2.27
Income from discontinued operations (in dollars per share)	0	0	0.03
Net income (in dollars per share)	$ 3.61	$ 2.57	$ 2.30
Weighted average shares outstanding – Basic (in shares)	30,626	32,096	32,873
Net earnings per share – Diluted:
Income from continuing operations (in dollars per share)	$ 3.59	$ 2.56	$ 2.25
Income from discontinued operations (in dollars per share)	0	0	0.04
Net income (in dollars per share)	$ 3.59	$ 2.56	$ 2.29
Weighted average shares outstanding – Diluted (in shares)	30,785	32,192	33,054

Inventories, Net

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Inventories

INVENTORIES, NET

Inventories at December 31 consisted of the following (in thousands):


	2023		2022
Raw material	$	77,489	$	111,187
Work-in-process	9,508		17,944
Finished goods	42,942		47,523
Gross inventory	129,939		176,654
Less reserves	(9,436)		(6,294)
Total inventories	$	120,503	$	170,360

The Company's gross inventory balances are reduced by reserves for excess, obsolete and slow moving inventory and estimates for determining net realizable value of the inventory that are reported on a net basis on the Company's consolidated balance sheets.

The following table summarizes activity recorded within the reserve for excess, obsolete and slow moving inventory for the years ended December 31 (in thousands):


	2023		2022		2021
Beginning balance	$	6,179	$	4,400	$	4,161
Excess, obsolete and slow moving inventory expense	4,243		1,582		215
Scrapped inventory and other adjustments	(1,044)		197		24
Ending balance	$	9,378	$	6,179	$	4,400

Equity-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Equity-Based Compensation

EQUITY-BASED COMPENSATION

The Company awards equity-based compensation to employees and directors, which is recognized in the statements of income based on the grant-date fair value of the award. The Company uses the straight-line method for recording compensation expense over a vesting period generally up to four years with either graded or cliff vesting. Stock compensation expense recognized during the period is based on the value of the portion of equity-based awards that is ultimately expected to vest during the period reduced by the expense on unvested awards forfeited during the period.

On May 3, 2023, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. Amended and Restated 2018 Equity Incentive Plan (the "Amended 2018 Plan") which increases the total number of shares available for issuance by the Company from 1,000,000 shares to 1,550,000 shares. In addition, 81,707 shares that were unissued and available for grant under the Gibraltar Industries, Inc. 2015 Equity Incentive Plan (the "2015 Plan") were consolidated with the Amended 2018 Plan. No further grants will be made under the 2015 Plan. The Amended 2018 Plan allows 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.

On May 4, 2022, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. Amended and Restated 2016 Stock Plan for Non-Employee Directors ("Non-Employee Directors Plan") which increases the total number of shares for issuance by the Company thereunder from 100,000 shares to 200,000 shares, allows the Company to grant awards of shares of the Company's common stock to current 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.

At December 31, 2023, approximately 885,000 shares were available for issuance under the Amended 2018 Plan as incentive stock options or other stock awards, and approximately 86,000 shares were available for issuance under the Non-Employee Directors Plan as awards of shares of the Company's common stock.

The compensation cost for employee and non-employee director equity-based compensation plans for all current and prior year awards granted along with the related tax benefits recognized during the years ended December 31 (in thousands) were as follows:


	2023		2022		2021
Total stock compensation expense	$	9,750	$	8,334	$	8,652
Tax benefits recognized related to stock compensation expense	$	2,516	$	2,175	$	2,189

Equity Based Awards - Settled in Stock

The following table provides the number of stock units and common stock granted during the years ended December 31, along with the weighted-average grant-date fair value of each award:


	2023			2022			2021
Awards	Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards	Weighted Average Grant Date Fair Value


Deferred stock units	6,351	$	54.33	2,460	$	42.69	7,536	$	83.58
Common stock	8,468	$	54.33	15,652	$	42.49	2,512	$	83.58
Restricted stock units	99,820	$	61.93	132,430	$	43.92	72,243	$	79.28
Performance stock units (1)	85,323	$	53.22	108,464	$	47.00	62,778	$	87.84

(1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance. The number of shares to be issued may vary between 0% and 200% of the number of PSUs granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on the Company’s return on invested capital (“ROIC”) over a one-year period performance period.

Stock Options

No options were granted during the years ended December 31, 2023, 2022 and 2021. The Company determines the fair value of stock options granted based on the Black-Scholes option pricing model on the date of grant, and the expected stock volatility is based on volatility of the Company’s stock price using a historical period commensurate with the expected life of the options.

At December 31, 2023, the Company has one grant of options outstanding. The following table summarizes the Company's outstanding and exercisable options at December 31, 2023:


Exercise Price	Options Outstanding	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Options Exercisable	Weighted Average Exercise Price
$39.55	5,000	3.26	$	39.55	5,000	$	39.55

The following table summarizes information about stock option transactions:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Balance at January 1, 2021	41,500	$	29.38

Exercised	(36,500)	$	27.99

Balance at December 31, 2021	5,000	$	39.55


Exercised	—	$	—
Balance at December 31, 2022	5,000	$	39.55
Exercised	—	$	—
Balance at December 31, 2023	5,000	$	39.55	3.26	$	197,150

The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the $78.98 per share market price of the Company’s common stock as of December 31, 2023, which would have been received by the option holder had the option holder exercised the options as of that date.

Stock Units and Common Stock

The following table summarizes information about non-vested restricted stock units and performance stock units (that will convert to shares upon vesting) and common stock:


	Restricted Stock Units	Weighted Average Grant Date Fair Value		Common Stock	Weighted Average Grant Date Fair Value		Performance Stock Units	Weighted Average Grant Date Fair Value		Deferred Stock Units (2)	Weighted Average Grant Date Fair Value
Balance at December 31, 2022	235,370	$	49.87	—	$	—	211,368	$	50.96	40,350	$	45.16
Granted	99,820	$	61.93	8,468	$	54.33	85,323	$	53.22	6,351	$	54.33
Adjustments (1)	—	$	—	—	$	—	(70,610)	$	50.72	—	$	—
Vested	(77,312)	$	53.37	(8,468)	$	54.33	(71,106)	$	51.74	(2,222)	$	36.47
Forfeited	(24,908)	$	50.99	—	$	—	(18,729)	$	49.69	—	$	—
Balance at December 31, 2023	232,970	$	53.75	—	$	—	136,246	$	52.27	44,479	$	46.90

(1) (i) 40,610 units of the Company's PSUs granted in 2022 were adjusted in the first quarter of 2023 to reflect 60.5% of the target amount granted based on the Company's actual ROIC compared to ROIC target for the performance period ended December 31, 2022; and (ii) 30,000 units of the Company's TSR PSUs granted in 2020 for which the performance condition was not achieved and the PSUs were adjusted in the first quarter of

2023 to reflect zero earned as the threshold level of achievement was not met based on performance criteria as defined in the respective awards over a three-year performance period which ended March 1, 2023.

(2) Vested and issuable upon termination from service as a member of the Company's Board of Directors.

The fair value of the common stock, restricted stock units, and deferred stock units, as well as the performance stock units with a financial performance condition granted during the three years ended December 31, 2023 was based on the Company's stock price at grant date of the award.

The following table sets forth the aggregate intrinsic value of options exercised and aggregate fair value of restricted stock units and restricted shares that vested during the years ended December 31 (in thousands):


	2023		2022		2021
Aggregate intrinsic value of options exercised	$	—	$	—	$	2,103
Aggregate fair value of vested restricted stock units	$	4,740	$	3,920	$	6,320
Aggregate fair value of vested common stock	$	460	$	665	$	370
Aggregate fair value of vested performance stock units	$	3,999	$	6,729	$	9,080
Aggregate fair value of vested deferred stock units	$	345	$	105	$	630

As of December 31, 2023, there was $13.1 million of total unrecognized compensation cost related to non-vested restricted and performance stock units. That cost is expected to be recognized over a weighted average period of 2.0 years.

Equity Based Awards - Settled in Cash

Management Stock Purchase Plan

The Company's equity-based awards that are settled in cash are the awards under the Management Stock Purchase Plan (the "MSPP") which is authorized under the Company's equity incentive plans. The 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 deferred 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.

Total MSPP liabilities recorded on the consolidated balance sheet as of December 31, 2023 were $20.0 million, of which $2.0 million was included in current accrued expenses and $18.0 million was included in non-current liabilities. Total MSPP liabilities recorded on the consolidated balance sheet as of December 31, 2022 were $15.4 million, of which $2.3 million was included in current accrued expenses and $13.1 million was included in non-current liabilities. The value of the restricted stock units within the MSPP liabilities was $17.3 million and $13.4 million at December 31, 2023 and 2022, respectively.

The following table provides the number of restricted stock units credited to active participant accounts, balance of vested and unvested restricted stock units within active participant accounts, payments made with respect to MSPP liabilities and MSPP expense during years ended December 31:


	2023		2022		2021
Restricted stock units credited	48,921		12,365		30,475
Restricted stock units balance, vested and unvested	199,946		158,644		223,892
Share-based liabilities paid (in thousands)	$	2,392	$	3,689	$	4,915
MSPP expense (recovery) (in thousands)	$	4,710	$	(4,459)	$	6,034

Goodwill and Related Intangible Assets (Schedule of Amortization Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 11,239	$ 11,584	$ 18,856

Segment Information (Measurements Used by Management to Assess Performance of Segments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	$ 1,377,736	$ 1,389,966	$ 1,339,783
Income from operations:	150,729	130,102	96,988
Depreciation and amortization	27,378	26,167	31,966
Total assets	1,256,451	1,210,613	1,214,901
Capital expenditures	14,997	20,138	17,705
Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income from operations:	190,829	163,618	133,959
Unallocated Corporate Expenses
Segment Reporting, Other Significant Reconciling Item [Line Items]
Income from operations:	(40,100)	(33,516)	(36,971)
Depreciation and amortization	1,701	1,190	219
Total assets	117,287	24,448	21,246
Capital expenditures	4,239	1,424	3,869
Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	330,738	377,567	432,096
Renewables \| Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	330,738	377,567	432,096
Income from operations:	30,160	25,243	20,158
Depreciation and amortization	8,671	8,467	14,682
Total assets	377,694	392,368	445,486
Capital expenditures	1,113	3,589	4,268
Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	814,803	767,248	635,505
Residential \| Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	814,803	767,248	635,505
Income from operations:	143,068	126,458	105,821
Depreciation and amortization	10,080	8,983	8,694
Total assets	515,739	519,567	453,469
Capital expenditures	6,913	10,050	4,182
Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	144,967	168,868	199,161
Agtech \| Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	144,967	168,868	199,161
Income from operations:	(928)	2,914	(931)
Depreciation and amortization	3,789	4,377	5,279
Total assets	168,213	193,966	212,038
Capital expenditures	1,419	3,177	3,289
Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	87,228	76,283	73,021
Infrastructure \| Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net sales:	87,228	76,283	73,021
Income from operations:	18,529	9,003	8,911
Depreciation and amortization	3,137	3,150	3,092
Total assets	77,518	80,264	82,662
Capital expenditures	$ 1,313	$ 1,898	$ 2,097

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	000-22462
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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.9
Entity Common Stock, Shares Outstanding		30,442,954
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Registrant’s Definitive Proxy Statement to be filed for its 2024 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Entity Central Index Key	0000912562
Document Financial Statement Error Correction [Flag]	false

Earnings per Share (Schedule of Computation of Basic and Diluted Earnings per Share) (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Income from continuing operations	$ 110,533	$ 82,406	$ 74,516
Income from discontinued operations	0	0	1,113
Net income	$ 110,533	$ 82,406	$ 75,629
Weighted average shares outstanding (in shares)	30,626	32,096	32,873
Common stock options and restricted stock (in shares)	159	96	181
Weighted average shares and conversions (in shares)	30,785	32,192	33,054

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

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-Name Accounting Standards Codification
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-Section 45
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.13)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ 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

Goodwill and Related Intangible Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Balance at	$ 512,363	$ 510,942
Acquired goodwill	4,133	3,604
Adjustment to prior year acquisition	387	904
Foreign currency translation	(832)	(3,087)
Sale of business	(2,668)
Balance at	513,383	512,363
Renewables
Goodwill [Roll Forward]
Balance at	188,030	188,680
Acquired goodwill	0	0
Adjustment to prior year acquisition	0	904
Foreign currency translation	(1,132)	(1,554)
Sale of business	(2,668)
Balance at	184,230	188,030
Residential
Goodwill [Roll Forward]
Balance at	209,056	205,452
Acquired goodwill	4,133	3,604
Adjustment to prior year acquisition	387	0
Foreign currency translation	0	0
Sale of business	0
Balance at	213,576	209,056
Agtech
Goodwill [Roll Forward]
Balance at	83,599	85,132
Acquired goodwill	0	0
Adjustment to prior year acquisition	0	0
Foreign currency translation	300	(1,533)
Sale of business	0
Balance at	83,899	83,599
Infrastructure
Goodwill [Roll Forward]
Balance at	31,678	31,678
Acquired goodwill	0	0
Adjustment to prior year acquisition	0	0
Foreign currency translation	0	0
Sale of business	0
Balance at	$ 31,678	$ 31,678

Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Compensation	$ 22,893	$ 19,277
Customer rebates	$ 18,497	$ 16,768
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses	Accrued expenses
Current operating lease liability	$ 10,278	$ 8,620
Product warranties	9,139	6,251
Insurance	6,307	6,440
Interest and taxes	5,167	5,696
Other	16,438	10,669
Accrued Liabilities, Total	$ 88,719	$ 73,721

Exit Activity Costs and Asset Impairments (Tables)

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

Reconciliation of Liability for Exit Activity Costs Relating to Facility Consolidation Efforts


	2023						2022				2021
	Exit Activity		Asset Impairment		Total		Exit Activity		Asset Impairment		Total		Exit Activity		Asset Impairment		Total
Renewables	$	7,558	$	1,136	$	8,694	$	3,256	$	1,198	$	4,454	$	4,769	$	1,193	$	5,962
Residential	960		3,851		4,811		1,825		12		1,837		393		—		393
Agtech	718		—		718		771		1,066		1,837		1,687		—		1,687
Infrastructure	—		—		—		(63)		—		(63)		26		—		26
Corporate	(32)		—		(32)		250		—		250		145		—		145
Total	$	9,204	$	4,987	$	14,191	$	6,039	$	2,276	$	8,315	$	7,020	$	1,193	$	8,213

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


	2023		2022
Balance as of January 1	$	2,417	$	272
Exit activity costs recognized	9,204		6,039
Cash payments	(4,896)		(3,894)

Balance as of December 31	$	6,725	$	2,417

Summary of Exit Activity Costs and Asset Impairments Recorded in the Consolidated Statements of Operations


	2023		2022		2021
Cost of sales	$	12,634	$	5,258	$	6,176
Selling, general, and administrative expense	1,557		3,057		2,037
Total exit activity costs and asset impairments	$	14,191	$	8,315	$	8,213

Equity-Based Compensation (Summary of Compensation Expense Connection with Awards) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense	$ 9,750	$ 8,334	$ 8,652
Tax benefits recognized related to stock compensation expense	$ 2,516	$ 2,175	$ 2,189

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Exit Activity Costs and Asset Impairments (Narrative) (Details) - facility	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Number of consolidated facilities to be closed	2	4
Number of facilities relocated		1

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Principles of consolidation

The consolidated financial statements include the accounts of Gibraltar Industries, Inc. and subsidiaries (the "Company"). All intercompany accounts and transactions have been eliminated in consolidation.

Use of estimates

The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates due to uncertainty in the current economic environment.

Segment reporting

The Company has four reportable segments: Renewables, Residential, Agtech and Infrastructure.

Revenue recognition

Revenue is recognized when, or as, the Company transfers control of promised products or services to a customer in an amount that reflects the consideration the Company expects to be entitled in exchange for transferring those products or services.

Performance obligations satisfied at a point in time and significant judgments

Revenue from contracts with customers is recognized when the Company transfers control of the promised product at a point in time, which is determined when the customer has legal title and the significant risks and rewards of ownership of the asset, and the Company has a present right to payment for the product. The Company allocates the transaction price, which is generally the quoted price per terms of the contract and the consideration the Company expects to receive, to each performance obligation. These products are generally sold with rights of return and these contracts may provide other credits or incentives, which are accounted for as variable consideration. Sales returns, allowances, and customer incentives, including rebates, are treated as reductions to the sales transaction price and based largely on an assessment of all information (i.e., historical, current and forecasted) that is reasonably available to the Company, and estimated at contract inception and updated at the end of each reporting period as additional information becomes available.

Performance obligations satisfied over time and significant judgments

For a contract to construct an asset that the customer controls as it is being created or enhanced, or a promise to provide a product that has no alternative use to the Company and the Company has enforceable rights to payment, the Company recognizes revenue over time. For the contracts to construct a certain asset, the Company determines that the customer controls the asset while it is being constructed. For the contracts for products that have no alternative use and for which the Company has an enforceable right to payment, the Company identifies these products as products that are not a standard inventory item or the Company cannot readily direct the product to another customer for use without incurring a significant economic loss, or significant costs to rework the product.

The Company determines the transaction price for each contract based on the consideration the Company expects to receive for the promised products and services under the entire contract, which is generally the stated contract price based on an expected cost plus a margin.

For the above contracts with customers with respect to which the Company satisfies a performance obligation over time, the Company recognizes revenue based on the extent of progress towards completion of the performance obligation using the cost-to-cost measure of progress. Under the cost-to-cost measure of progress, the extent of progress toward completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recognized proportionally as costs are incurred. Costs to fulfill a contract include all direct costs related to contract performance. Selling and administrative expenses are charged to operations as incurred. Provision for loss on an uncompleted performance obligation is recognized in the period in which such loss is determined.

The Company regularly reviews the progress under the cost-to-cost method and any adjustments are recognized as necessary. Changes in estimates are recognized as they become known using the cumulative catch-up basis.

The Company also recognizes revenues from services contracts over time. The Company recognizes revenue over time during the term of the agreement as the customer is simultaneously receiving and consuming the benefits provided throughout the Company's performance. Therefore, due to control transferring over time, the Company recognizes revenue on a straight-line basis throughout the contract period.

Contract assets and contract liabilities

Contract assets primarily represents revenue recognized for performance obligations that have been satisfied but for which amounts receivable have not been billed. These are included as current assets and included within accounts receivable on the Company's consolidated balance sheets. Contract liabilities include payments received from customers in advance of the satisfaction of performance obligations for a contract. The Company does not consider contract advances to be significant financing components as the intent of these payments in advance are for reasons other than providing a significant financing benefit and are customary in the Company's industry. Unearned revenue relates to payments received in advance of performance under the contract and is recognized when the Company performs under the contract. Unearned revenue is presented within accrued expenses in the Company's consolidated balance sheets.

Costs to obtain a contract with a customer

The Company recognizes an asset for the incremental costs of obtaining a contract with a customer if the Company expects the benefit of those costs to be longer than one year. If the amortization period of the asset is one year or less, the Company recognizes the incremental costs of obtaining a contract as an expense when incurred. These incremental costs include, but are not limited to, sales commissions incurred to obtain a contract with a customer.

Cash and cash equivalents

All highly liquid investments with a maturity of three months or less are considered cash equivalents.

Accounts receivable and allowance for doubtful accounts and contract assets

Accounts receivable are composed of trade and contract receivables recorded at either the invoiced amount or costs in excess of billings, are expected to be collected within one year, and do not bear interest.

The Company’s expected loss allowance methodology for accounts receivable and costs in excess of billings (collectively "accounts receivable") is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers' accounts receivables. The Company is exposed to credit losses through sales of products and services. Due to the short-term nature of such accounts receivable, the estimated amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances. Additionally, specific allowance amounts are established to record the appropriate provision for customers that no longer share risk characteristics similar with other accounts receivable. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible after all means of collection have been exhausted and the potential for recovery is considered remote.

Estimates are used to determine the allowance. These estimates are based on assessment of anticipated payment and all other historical, current and future information that is reasonably available.

The following table summarizes activity recorded within the allowance for doubtful accounts and contract assets balances for the years ended December 31 (in thousands):


	2023		2022		2021
Beginning balance	$	3,746	$	3,738	$	3,529
Bad debt expense, net of recoveries	3,148		1,221		898
Accounts written off against allowance and other adjustments	(1,322)		(1,213)		(689)
Ending balance	$	5,572	$	3,746	$	3,738

Inventories

Inventories are valued at the lower of cost or net realizable value. Cost is determined using either the first-in, first-out method or the average costing method. Shipping and handling costs are recognized as a component of cost of sales.

Property, plant, and equipment

Property, plant, and equipment are stated at cost and depreciated over their estimated useful lives using the straight-line method. Interest is capitalized in connection with construction of qualified assets. Expenditures that exceed an established dollar threshold and that extend the useful lives of assets are capitalized, while repair and maintenance costs are expensed as incurred. The estimated useful lives of land improvements, buildings, and building improvements are 15 to 40 years, while the estimated useful lives for machinery and equipment are 3 to 20 years.

Accounting for the acquisition of a business as a purchase transaction requires an allocation of the purchase price to the assets acquired and the liabilities assumed in the transaction at their respective estimated fair values. The most complex estimations of individual fair values are those involving long-lived assets, such as property, plant, and equipment and intangible assets. The Company uses all available information to make these fair value determinations and engages independent valuation specialists to assist in the fair value determination of the acquired long-lived assets.

Goodwill and other intangible assets

The Company tests goodwill for impairment at the reporting unit level on an annual basis at October 31, or more frequently if an event occurs, or circumstances change, that indicate that the fair value of a reporting unit could be below its carrying value. The reporting units are at the component level, or one level below the operating segment level. Goodwill is assigned to each reporting unit as of the date the reporting unit is acquired.

The Company may elect to perform a qualitative assessment that considers economic, industry and company-specific factors for some or all of the Company's selected reporting units. If, after completing the assessment, it is determined that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company proceeds to a quantitative test. The Company may also elect to perform a quantitative test instead of a qualitative test for any or all of the Company's reporting units.

The quantitative impairment test consists of comparing the fair value of a reporting unit, determined using two valuation techniques, to its carrying value. If the carrying value of the reporting unit exceeds its fair value, goodwill is considered impaired, and a loss measured by the excess of the carrying value of the reporting unit over the fair value of the reporting unit must be recorded.

The Company also tests its indefinite-lived intangible assets for impairment on an annual basis as of October 31, or more frequently if an event occurs, or circumstances change, that indicate that the fair value of an indefinite-lived intangible asset could be below its carrying value. The impairment test consists of comparing the fair value of the indefinite-lived intangible asset, determined using discounted cash flows on a relief-from-royalty basis, with its carrying amount. An impairment loss would be recognized for the carrying amount in excess of its fair value. Acquired identifiable intangible assets are recorded at cost. Identifiable intangible assets with finite useful lives are

amortized over their estimated useful lives. For additional disclosure of the Company's goodwill and other intangible assets refer to Note 7 "Goodwill and Related Intangible Assets."

Impairment of long-lived assets

Long-lived assets, including acquired identifiable intangible assets with finite useful lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of those assets may not be recoverable. In specific situations, when the Company has selected individual assets to be sold or scrapped, the Company obtains market value data for those specific assets and measures and records the impairment loss based on such data. Otherwise, the Company uses undiscounted cash flows to determine whether impairment exists and measures any impairment loss by approximating fair value using acceptable valuation techniques, including discounted cash flow models and third-party appraisals. For additional disclosure on impairment of the Company's long-lived assets refer to Note 7 "Goodwill and Related Intangible Assets," Note 14 "Discontinued Operations" and Note 15 "Exit Activity Costs and Asset Impairments."

Leases

The Company determines if an agreement is, or contains, a lease at the inception of the agreement. At lease commencement, the Company recognizes a right-of-use asset and a lease liability for leases with terms greater than twelve months. The initial lease liability is recognized at the present value of remaining lease payments over the lease term. Leases with an initial term of twelve months or less are not recorded on the Company's consolidated balance sheets. The Company recognizes lease expense for operating leases on a straight-line basis over the lease term. The Company combines lease and non-lease components, such as common area maintenance costs, in calculating the related asset and lease liabilities for all underlying asset groups. Operating lease cost is included in income from operations and includes short-term leases and variable lease costs which are immaterial. Current operating lease liabilities are represented within accrued expenses on the Company's consolidated balance sheets.

Deferred charges

Deferred charges associated with initial costs incurred to enter into new debt arrangements are included as a component of long-term debt and are amortized as a part of interest expense over the terms of the associated debt agreements.

Advertising

The Company expenses advertising and marketing costs as incurred.

Foreign currency transactions and translation

The assets and liabilities of the Company’s foreign subsidiaries are translated into U.S. dollars at the rate of exchange in effect at the balance sheet date. Income and expense items are translated at the average exchange rates prevailing during the period.

Income taxes

The provision for income taxes is determined using the asset and liability approach. Under this approach, deferred income taxes represent the expected future tax consequences of temporary differences between the carrying amounts and tax basis of assets and liabilities. The Company records a valuation allowance to reduce deferred tax assets when uncertainty exists regarding their realization.

Equity-based compensation

The Company measures the cost of equity-based compensation based on grant date fair value and recognizes the cost over the period in which the employee is required to provide service in exchange for the award reduced by forfeitures. Equity-based compensation consists of grants of stock options, deferred stock units, common stock, restricted stock units, and performance stock units. Equity-based compensation expense is included as a component of selling, general, and administrative expenses.

Earnings per share

Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by adjusting the weighted average number of common shares outstanding, as well as dilutive common shares which include shares issuable pursuant to equity based incentive compensation awards under the equity compensation plans described in Note 12 "Equity-Based Compensation."

Recent accounting pronouncements

Recent Accounting Pronouncements Not Yet Adopted

Standard

Description

Financial Statement Effect or Other Significant Matters

ASU No. 2023-07

Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2023-07, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, it requires a public entity to disclose the title and position of the Chief Operating Decision Maker ("CODM"). The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments.

The amendments in the ASU are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. A public entity should apply the amendments in this ASU retrospectively to all prior periods presented in the financial statements. The Company expects this ASU to only impact its disclosures with no impacts to the Company's results of operations, cash flows and financial condition. The Company's planned date of adoption is January 1, 2024.

ASU No. 2023-09

Income Taxes (Topic 740): Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU No. 2023-09, which focuses on the rate reconciliation and income taxes paid. This ASU requires a public business entity ("PBE") to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received.

For PBEs, the amendments in this ASU are effective for annual periods beginning after December 15, 2024, with early adoption permitted. An entity may apply the amendments in this ASU prospectively by providing the revised disclosures for the period ending December 31, 2025 and continuing to provide the pre-ASU disclosures for the prior periods, or may apply the amendments retrospectively by providing the revised disclosures for all period presented. The Company expects this ASU to only impact the Company's disclosures with no impacts to the Company's results of operations, cash flows, and financial condition. The Company's planned date of adoption is January 1, 2025.

Segment Information (Narrative) (Details)	12 Months Ended
Segment Information (Narrative) (Details)	Dec. 31, 2023 segment
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Number of reportable segments	4

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Long-Term Debt, Unclassified [Abstract]

Schedule of Cash Paid for Interest

Total cash paid for interest in the years ended December 31 was (in thousands):


	2023		2022		2021
Interest expense, net	$	3,002	$	4,047	$	1,639
Interest income	679		174		269
Other adjustments	(128)		(679)		(345)
Cash paid for interest	$	3,553	$	3,542	$	1,563

Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings per Share

Weighted average shares outstanding for basic and diluted earnings were as follows for the years ended December 31 (in thousands):


	2023		2022		2021
Numerator:
Income from continuing operations	$	110,533	$	82,406	$	74,516
Income from discontinued operations	—		—		1,113
Net income available to common shareholders	$	110,533	$	82,406	$	75,629
Denominator for basic earnings per share:
Weighted average shares outstanding	30,626		32,096		32,873
Denominator for diluted earnings per share:
Common stock options and stock units	159		96		181
Weighted average shares and conversions	30,785		32,192		33,054

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table provides the potential anti-dilutive common stock units not included in the diluted weighted average shares calculations for the years ended December 31 (in thousands):


	2023	2022	2021
Common stock units	26	43	—

Leases - Assets and Liabilities of Lessee (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease assets	$ 44,918	$ 26,502
Current operating lease liability	10,278	$ 8,620
Present value of lease liabilities	$ 46,267

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories at December 31 consisted of the following (in thousands):


	2023		2022
Raw material	$	77,489	$	111,187
Work-in-process	9,508		17,944
Finished goods	42,942		47,523
Gross inventory	129,939		176,654
Less reserves	(9,436)		(6,294)
Total inventories	$	120,503	$	170,360

Summary of Activity within the Reserve for Excess, Obsolete, and Slow Moving Inventory

The following table summarizes activity recorded within the reserve for excess, obsolete and slow moving inventory for the years ended December 31 (in thousands):


	2023		2022		2021
Beginning balance	$	6,179	$	4,400	$	4,161
Excess, obsolete and slow moving inventory expense	4,243		1,582		215
Scrapped inventory and other adjustments	(1,044)		197		24
Ending balance	$	9,378	$	6,179	$	4,400

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Measurements Used by Management to Assess Performance of Segments


	2023		2022		2021
























Total assets
Renewables	$	377,694	$	392,368	$	445,486
Residential	515,739		519,567		453,469
Agtech	168,213		193,966		212,038
Infrastructure	77,518		80,264		82,662
Unallocated corporate assets	117,287		24,448		21,246

	$	1,256,451	$	1,210,613	$	1,214,901

Capital expenditures
Renewables	$	1,113	$	3,589	$	4,268
Residential	6,913		10,050		4,182
Agtech	1,419		3,177		3,289
Infrastructure	1,313		1,898		2,097
Unallocated corporate expenditures	4,239		1,424		3,869
	$	14,997	$	20,138	$	17,705

Disaggregation of Revenue

The following tables illustrate revenue disaggregated by timing of transfer of control to the customer for the years ended December 31 (in thousands):


	2023
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	49,123	$	808,225	$	4,920	$	31,547	$	893,815
Over Time	281,615		6,578		140,047		55,681		483,921
Total	$	330,738	$	814,803	$	144,967	$	87,228	$	1,377,736

	2022
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	27,317	$	761,576	$	13,011	$	32,983	$	834,887
Over Time	350,250		5,672		155,857		43,300		555,079
Total	$	377,567	$	767,248	$	168,868	$	76,283	$	1,389,966

	2021
	Renewables		Residential		Agtech		Infrastructure		Total
Net sales:
Point in Time	$	28,630	$	630,494	$	20,157	$	32,512	$	711,793
Over Time	403,466		5,011		179,004		40,509		627,990
Total	$	432,096	$	635,505	$	199,161	$	73,021	$	1,339,783

Net Sales by Region or Origin and Long-Lived Assets by Region of Domicile

Net sales by region or origin and long-lived assets by region of domicile for the years ended and as of December 31 were as follows (in thousands):


	2023		2022		2021
Net sales
North America	$	1,366,012	$	1,373,907	$	1,318,795

Asia	11,724		16,059		20,988
Total	$	1,377,736	$	1,389,966	$	1,339,783

Long-lived assets
North America	$	154,778	$	136,553	$	97,003

Asia	59		234		365
Total	$	154,837	$	136,787	$	97,368

Acquisitions (Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Jul. 05, 2023	Dec. 31, 2022	Aug. 22, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 513,383		$ 512,363		$ 510,942
Quality Aluminum Products
Business Acquisition [Line Items]
Cash				$ 1,018
Working capital				23,372
Property, plant, and equipment				8,486
Acquired intangible assets				14,700
Other assets				1,813
Other liabilities	$ (1,295)
Goodwill				3,991
Fair value of purchase consideration				$ 52,085
Privately Held Utah-Based Company
Business Acquisition [Line Items]
Working capital		$ 827
Property, plant, and equipment		195
Acquired intangible assets		5,200
Other assets		134
Other liabilities		(72)
Goodwill		4,133
Fair value of purchase consideration		$ 10,417

Accrued Expenses

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Expenses

ACCRUED EXPENSES

Accrued expenses at December 31 consisted of the following (in thousands):


	2023		2022
Compensation	$	22,893	$	19,277
Customer rebates	18,497		16,768
Current operating lease liability	10,278		8,620
Product warranties	9,139		6,251
Insurance	6,307		6,440

Interest and taxes	5,167		5,696



Other	16,438		10,669
Total accrued expenses	$	88,719	$	73,721

Accrued expenses for compensation includes salaries, benefits, and short-term or current portions of incentives and bonuses. Accrued expenses for insurance are primarily for general liability, workers’ compensation and employee healthcare policies for which the Company is self-insured up to certain per-occurrence and aggregate limits.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary Of Activity Recorded Within The Allowance For Doubtful Accounts

The following table summarizes activity recorded within the allowance for doubtful accounts and contract assets balances for the years ended December 31 (in thousands):


	2023		2022		2021
Beginning balance	$	3,746	$	3,738	$	3,529
Bad debt expense, net of recoveries	3,148		1,221		898
Accounts written off against allowance and other adjustments	(1,322)		(1,213)		(689)
Ending balance	$	5,572	$	3,746	$	3,738

Property, Plant and Equipment

The table below sets forth the depreciation expense recognized during the years ended December 31 (in thousands):


	2023		2022		2021
Depreciation expense	$	16,139	$	14,583	$	13,110

Components of property, plant, and equipment at December 31 consisted of the following (in thousands):


	2023		2022
Land and land improvements	$	4,544	$	4,704
Building and improvements	43,732		43,416
Machinery and equipment	231,275		223,843
Construction in progress	17,391		13,065
Property, plant, and equipment, gross	296,942		285,028
Less: accumulated depreciation	(189,339)		(175,444)
Property, plant, and equipment, net	$	107,603	$	109,584

Inventories, Net (Summary of Activity within the Reserve for Excess, Obsolete, and Slow Moving Inventory) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory [Roll Forward]
Beginning balance	$ 6,179	$ 4,400	$ 4,161
Excess, obsolete and slow moving inventory expense	4,243	1,582	215
Scrapped inventory and other adjustments	(1,044)	197	24
Ending balance	$ 9,378	$ 6,179	$ 4,400

Equity-Based Compensation (Summary of Ranges of Outstanding and Exercisable Options) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2020
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options Outstanding	5,000	5,000	5,000	41,500
Weighted Average Remaining Contractual Life (in years)	3 years 3 months 3 days
Weighted Average Exercise Price	$ 0	$ 27.99
$39.55
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price Range, Lower Range Limit	$ 39.55
Options Outstanding	5,000
Weighted Average Remaining Contractual Life (in years)	3 years 3 months 3 days
Weighted Average Exercise Price	$ 39.55
Options Exercisable	5,000
Weighted Average Exercise Price	$ 39.55

Property, Plant, and Equipment, Net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment

PROPERTY, PLANT, AND EQUIPMENT, NET

Components of property, plant, and equipment at December 31 consisted of the following (in thousands):


	2023		2022
Land and land improvements	$	4,544	$	4,704
Building and improvements	43,732		43,416
Machinery and equipment	231,275		223,843
Construction in progress	17,391		13,065
Property, plant, and equipment, gross	296,942		285,028
Less: accumulated depreciation	(189,339)		(175,444)
Property, plant, and equipment, net	$	107,603	$	109,584

Pension and Other Postretirement Benefits (Changes in the Accumulated Postretirement Benefit Obligation) (Details) - Other Postretirement Benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at	$ 4,229	$ 6,202
Interest cost	194	127	$ 125
Actuarial losses (gains)	59	(1,784)
Benefits paid	(274)	(316)
Projected benefit obligation at	4,208	4,229	$ 6,202
Fair value of plan assets	0	0
Under funded status	(4,208)	(4,229)
Unamortized prior service cost	292	352
Unrecognized actuarial gain	(219)	(278)
Net amount recognized	$ (4,135)	$ (4,155)

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse.

The components of income before taxes from continuing operations consisted of the following for the years ended December 31 (in thousands):


	2023		2022		2021
Domestic	$	149,348	$	112,635	$	93,155
Foreign	(356)		(1,145)		6,407
Income before taxes from continuing operations	$	148,992	$	111,490	$	99,562

The provision for income taxes from continuing operations for the years ended December 31 consisted of the following (in thousands):


	2023		2022		2021
Current:
U.S. Federal	$	21,579	$	17,014	$	16,137
State	6,048		5,647		5,009
Foreign	32		86		932
Total current	27,659		22,747		22,078
Deferred:
U.S. Federal	8,617		5,259		1,766
State	2,112		1,381		134
Foreign	71		(303)		1,068
Total deferred	10,800		6,337		2,968
Provision for income taxes	$	38,459	$	29,084	$	25,046

The provision for income taxes from continuing operations differs from the federal statutory rate of 21% due to the following for the years ended December 31 (in thousands, except for percentages) :


	2023				2022				2021
Statutory rate	$	31,288	21.0	%	$	23,413	21.0	%	$	20,908	21.0	%
State taxes, less federal effect	6,446		4.3	%	5,541		5.0	%	4,068		4.1	%
Federal tax credits	(787)		(0.5)	%	(549)		(0.5)	%	(587)		(0.6)	%
Excess tax benefit on stock based compensation	(203)		(0.1)	%	(214)		(0.2)	%	(2,039)		(2.0)	%

Executive compensation	1,369		0.9	%	960		0.9	%	1,781		1.8	%












Other	346		0.2	%	(67)		(0.1)	%	915		0.9	%

	$	38,459	25.8	%	$	29,084	26.1	%	$	25,046	25.2	%

Deferred tax liabilities at December 31 consisted of the following (in thousands):


	2023		2022
Depreciation	$	13,838	$	14,570
Goodwill	65,967		62,132
Operating leases	11,325		6,775
Intangible assets	1,919		3,706

Other	1,264		1,358
Gross deferred tax liabilities	94,313		88,541



Capitalized research and development costs	(6,286)		(4,503)
Equity compensation	(6,907)		(5,993)
Operating leases	(11,678)		(7,076)
Assets held for sale	—		(13,669)

Capital loss carryforward	(26,527)		(26,490)
Other	(12,422)		(10,417)
Gross deferred tax assets	(63,820)		(68,148)
Valuation allowances	26,593		26,488
Deferred tax assets, net of valuation allowances	(37,227)		(41,660)
Net deferred tax liabilities	$	57,086	$	46,881

At December 31, 2023, the Company had total net operating loss carry forwards of $17.5 million, which included $0.3 million for federal, $16.5 million for state, and $0.7 million for foreign income tax purposes. The federal and state net operating loss carry forwards expire between 2024 and 2043. The foreign net operating loss carry forwards expire between 2024 and 2043. The Company recognized a total of $1.1 million of deferred tax assets, net of the federal tax benefit, related to these net operating losses prior to any valuation allowances, which included $0.1 million of federal and $0.8 million of state deferred tax assets and $0.2 million of foreign deferred tax assets.

As a result of the sale of the Industrial business during 2021, the Company generated a capital loss of $113.7 million for federal and state purposes to the extent allowable under state tax regulations. Amended Federal returns were filed to carry back $3.7 million of capital loss. As of December 31, 2023, the remaining capital loss carry forward is $110.0 million. The capital loss carryforward will expire in 2026. The Company recognized a total of $26.5 million of deferred tax assets, net of the federal benefit, related to this carryforward prior to any valuation allowances, which included $22.2 million of federal and $4.3 million of state deferred tax assets. The Company has a full valuation allowance on the capital loss carry forward and as a result there is no deferred tax asset related to the capital loss.

Deferred taxes include net deferred tax assets relating to certain state and foreign tax jurisdictions. A reduction of the carrying amount of deferred tax assets by a valuation allowance is required if it is more likely than not that such assets will not be realized.

The following sets forth a reconciliation of the beginning and ending amount of the Company’s valuation allowance (in thousands):


	2023		2022		2021
Balance as of January 1	$	26,488	$	26,581	$	111
Cost charged to the tax provision	105		10		13
Reductions	—		(103)		(41)
Reclassification from discontinued operations upon sale of industrial group	—		—		26,498


Balance as of December 31	$	26,593	$	26,488	$	26,581

The Company made net payments for income taxes for the following amounts for the years ended December 31 (in thousands):


	2023		2022		2021
Payments made for income taxes, net	$	23,447	$	27,017	$	22,076

At December 31, 2023, the Company had approximately $1.4 million of undistributed earnings of foreign subsidiaries. The Company continues to maintain its assertion that all remaining foreign earnings will be indefinitely reinvested. Any excess earnings could be used to grow the Company's foreign operations through launches of new capital projects or additional acquisitions. Determination of the amount of unrecognized deferred U.S. income tax liability related to the Company's remaining unremitted foreign earnings is not practicable due to the complexities associated with its hypothetical calculation.

The Company did not have any unrecognized tax benefits or activity related to such benefits in any of the years presented in the consolidated financial statements. The Company classifies accrued interest and penalties related to unrecognized tax benefits in income tax expense. No interest or penalties have been recognized during the years presented.

The Company and its U.S. subsidiaries file a U.S. federal consolidated income tax return. Foreign and U.S. state jurisdictions have statute of limitations generally ranging from four to ten years. The Company is currently in appeals for an audit of tax years 2016 through 2019 in Massachusetts and believes the technical merits of the position will be sustained.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Acquisitions (Narrative) (Details) - USD ($) $ in Thousands	Jul. 05, 2023	Aug. 22, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 513,383	$ 512,363	$ 510,942
Quality Aluminum Products
Business Acquisition [Line Items]
Acquisition purchase price		$ 52,100
Goodwill		$ 3,991
Privately Held Utah-Based Company
Business Acquisition [Line Items]
Acquisition purchase price	$ 10,400
Goodwill	$ 4,133
Fair Value, Measurement Period	1 year

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Leases - Schedule of Lease Cost and Assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 12,940	$ 11,191	$ 10,977
Short-term lease cost	4,645	5,694	7,153
Total lease cost	17,585	16,885	18,130
Cash paid for amounts included in the measurement of operating liabilities	10,628	8,835	9,431
Right-of-use assets obtained in exchange for new lease liabilities	$ 27,468	$ 17,008	$ 1,084
Weighted-average remaining lease term - operating leases	6 years 7 months 6 days	5 years 3 months 18 days
Weighted-average discount rate - operating leases	500.00%	500.00%

Goodwill and Related Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the years ended December 31 were as follows (in thousands):


	Renewables		Residential		Agtech		Infrastructure		Total
Balance at December 31, 2021	$	188,680	$	205,452	$	85,132	$	31,678	$	510,942
Acquired goodwill	—		3,604		—		—		3,604
Adjustment to prior year acquisition	904		—		—		—		904

Foreign currency translation	(1,554)		—		(1,533)		—		(3,087)
Balance at December 31, 2022	188,030		209,056		83,599		31,678		512,363
Acquired goodwill	—		4,133		—		—		4,133
Adjustment to prior year acquisition	—		387		—		—		387
Foreign currency translation	(1,132)		—		300		—		(832)
Sale of business	(2,668)		—		—		—		(2,668)
Balance at December 31, 2023	$	184,230	$	213,576	$	83,899	$	31,678	$	513,383

Schedule of Acquired Intangible Assets

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


	December 31, 2023				December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Indefinite-lived intangible assets:
Trademarks	$	52,300	$	—	$	55,500	$	—
Finite-lived intangible assets:
Trademarks	5,773		4,714		5,448		4,481
Unpatented technology	34,133		24,295		34,163		22,037
Customer relationships	110,649		48,088		115,125		46,557
Non-compete agreements	2,376		2,154		2,371		2,006

	152,931		79,251		157,107		75,081
Total acquired intangible assets	$	205,231	$	79,251	$	212,607	$	75,081

Schedule of Intangible Assets Amortization Expense

The following table summarizes amortization expense for the years ended December 31 (in thousands):


	2023		2022		2021
Amortization expense	$	11,239	$	11,584	$	18,856

Schedule of Amortization Expense

Amortization expense related to acquired intangible assets for the next five years ended December 31 is estimated as follows (in thousands):


	2024		2025		2026		2027		2028
Amortization expense	$	10,599	$	10,386	$	9,320	$	7,979	$	7,184

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Income Taxes (Deferred Tax Liabilities (Assets)) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Depreciation	$ 13,838	$ 14,570
Goodwill	65,967	62,132
Operating leases	11,325	6,775
Intangible assets	1,919	3,706
Other	1,264	1,358
Gross deferred tax liabilities	94,313	88,541
Capitalized research and development costs	(6,286)	(4,503)
Equity compensation	(6,907)	(5,993)
Operating leases	(11,678)	(7,076)
Assets held for sale	0	(13,669)
Capital loss carryforward	(26,527)	(26,490)
Other	(12,422)	(10,417)
Gross deferred tax assets	(63,820)	(68,148)
Valuation allowances	26,593	26,488
Deferred tax assets, net of valuation allowances	(37,227)	(41,660)
Net deferred tax liabilities	$ 57,086	$ 46,881

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Components of Income (Loss) Before Taxes from Continuing Operations

The components of income before taxes from continuing operations consisted of the following for the years ended December 31 (in thousands):


	2023		2022		2021
Domestic	$	149,348	$	112,635	$	93,155
Foreign	(356)		(1,145)		6,407
Income before taxes from continuing operations	$	148,992	$	111,490	$	99,562

Summary of Provision for Income Taxes for Continuing Operations

The provision for income taxes from continuing operations for the years ended December 31 consisted of the following (in thousands):


	2023		2022		2021
Current:
U.S. Federal	$	21,579	$	17,014	$	16,137
State	6,048		5,647		5,009
Foreign	32		86		932
Total current	27,659		22,747		22,078
Deferred:
U.S. Federal	8,617		5,259		1,766
State	2,112		1,381		134
Foreign	71		(303)		1,068
Total deferred	10,800		6,337		2,968
Provision for income taxes	$	38,459	$	29,084	$	25,046

Provision for Income Taxes from Continuing Operations Differs from the Federal Statutory Rate

The provision for income taxes from continuing operations differs from the federal statutory rate of 21% due to the following for the years ended December 31 (in thousands, except for percentages) :


	2023				2022				2021
Statutory rate	$	31,288	21.0	%	$	23,413	21.0	%	$	20,908	21.0	%
State taxes, less federal effect	6,446		4.3	%	5,541		5.0	%	4,068		4.1	%
Federal tax credits	(787)		(0.5)	%	(549)		(0.5)	%	(587)		(0.6)	%
Excess tax benefit on stock based compensation	(203)		(0.1)	%	(214)		(0.2)	%	(2,039)		(2.0)	%

Executive compensation	1,369		0.9	%	960		0.9	%	1,781		1.8	%












Other	346		0.2	%	(67)		(0.1)	%	915		0.9	%

	$	38,459	25.8	%	$	29,084	26.1	%	$	25,046	25.2	%

Deferred Tax Liabilities (Assets)

Deferred tax liabilities at December 31 consisted of the following (in thousands):


	2023		2022
Depreciation	$	13,838	$	14,570
Goodwill	65,967		62,132
Operating leases	11,325		6,775
Intangible assets	1,919		3,706

Other	1,264		1,358
Gross deferred tax liabilities	94,313		88,541



Capitalized research and development costs	(6,286)		(4,503)
Equity compensation	(6,907)		(5,993)
Operating leases	(11,678)		(7,076)
Assets held for sale	—		(13,669)

Capital loss carryforward	(26,527)		(26,490)
Other	(12,422)		(10,417)
Gross deferred tax assets	(63,820)		(68,148)
Valuation allowances	26,593		26,488
Deferred tax assets, net of valuation allowances	(37,227)		(41,660)
Net deferred tax liabilities	$	57,086	$	46,881

Summary of Valuation Allowance

The following sets forth a reconciliation of the beginning and ending amount of the Company’s valuation allowance (in thousands):


	2023		2022		2021
Balance as of January 1	$	26,488	$	26,581	$	111
Cost charged to the tax provision	105		10		13
Reductions	—		(103)		(41)
Reclassification from discontinued operations upon sale of industrial group	—		—		26,498


Balance as of December 31	$	26,593	$	26,488	$	26,581

Income Taxes Paid, Net of Tax Refunds

The Company made net payments for income taxes for the following amounts for the years ended December 31 (in thousands):


	2023		2022		2021
Payments made for income taxes, net	$	23,447	$	27,017	$	22,076

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2023

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued expenses at December 31 consisted of the following (in thousands):


	2023		2022
Compensation	$	22,893	$	19,277
Customer rebates	18,497		16,768
Current operating lease liability	10,278		8,620
Product warranties	9,139		6,251
Insurance	6,307		6,440

Interest and taxes	5,167		5,696



Other	16,438		10,669
Total accrued expenses	$	88,719	$	73,721

Segment Information (Net Sales by Region or Origin and Long-Lived Assets by Region of Domicile) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales:	$ 1,377,736	$ 1,389,966	$ 1,339,783
Long-lived assets	154,837	136,787	97,368
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales:	1,366,012	1,373,907	1,318,795
Long-lived assets	154,778	136,553	97,003
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales:	11,724	16,059	20,988
Long-lived assets	$ 59	$ 234	$ 365

- Definition

+ References

+ Details

Pension and Other Postretirement Benefits (Components of Net Periodic Postretirement Benefit Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Ultimate healthcare trend rates	4.00%	4.00%	3.80%
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 194	$ 127	$ 125
Amortization of unrecognized prior service cost	60	60	44
Loss amortization (2)	0	24	113
Net periodic pension cost	$ 254	$ 211	$ 282
Discount rate	4.70%	4.80%	2.40%
Annual rate of increase in the per capita cost of: Medical costs before age 65	7.80%	7.80%	7.00%
Annual rate of increase in the per capita cost of: Medical costs after age 65	4.60%	4.50%	4.50%
Annual rate of increase in the per capita cost of: Prescription drug costs	7.80%	7.80%	7.00%

Equity-Based Compensation (Aggregate Intrinsic Value of Options Exercised and Aggregate Fair Value of Restricted Stock Units and Restricted Shares that Vested) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of options exercised	$ 0	$ 0	$ 2,103
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value	4,740	3,920	6,320
Common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value	460	665	370
Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value	3,999	6,729	9,080
Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value	$ 345	$ 105	$ 630

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Goodwill and Related Intangible Assets (Schedule of Impairment Charges) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangibles		$ 0
Trademarks
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived intangibles	$ 3,800,000

Accounts Receivable

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Accounts Receivable

ACCOUNTS RECEIVABLE, NET

Accounts receivable at December 31 consisted of the following (in thousands):


	2023		2022
Trade accounts receivable	$	178,087	$	179,170
Costs in excess of billings	52,035		41,732
Total accounts receivables	230,122		220,902
Less allowance for doubtful accounts	(5,572)		(3,746)
Accounts receivable, net	$	224,550	$	217,156

Refer to Note 3 "Revenue" concerning the Company's costs in excess of billings.

Income Taxes (Income Taxes Paid, Net of Tax Refunds) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Payments made for income taxes, net	$ 23,447	$ 27,017	$ 22,076

Exit Activity Costs and Asset Impairments (Schedule Of Asset Impairment Charges Related To Restructuring Activities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Exit Activity	$ 9,204	$ 6,039	$ 7,020
Asset Impairment	4,987	2,276	1,193
Restructuring charges	14,191	8,315	8,213
Corporate
Restructuring Cost and Reserve [Line Items]
Exit Activity	(32)	250	145
Asset Impairment	0	0	0
Restructuring charges	(32)	250	145
Renewables \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Exit Activity	7,558	3,256	4,769
Asset Impairment	1,136	1,198	1,193
Restructuring charges	8,694	4,454	5,962
Residential \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Exit Activity	960	1,825	393
Asset Impairment	3,851	12	0
Restructuring charges	4,811	1,837	393
Infrastructure \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Exit Activity	0	(63)	26
Asset Impairment	0	0	0
Restructuring charges	0	(63)	26
Agtech \| Operating Segments
Restructuring Cost and Reserve [Line Items]
Exit Activity	718	771	1,687
Asset Impairment	0	1,066	0
Restructuring charges	$ 718	$ 1,837	$ 1,687

Accumulated Other Comprehensive (Loss) Income

12 Months Ended

Dec. 31, 2023

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

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME

The cumulative balance of each component of accumulated other comprehensive (loss) income is as follows (in thousands):


	Foreign Currency Translation Adjustment		Postretirement Benefit Plan Adjustments		Total Pre- Tax Amount		Tax Benefit (Expense)		Accumulated Other Comprehensive (Loss) Income
Balance at December 31, 2021	$	1,640	$	(2,247)	$	(607)	$	794	$	187
Postretirement benefit plan adjustments	—		1,852		1,852		(449)		1,403
Foreign currency translation adjustment	(5,022)		—		(5,022)		—		(5,022)
Balance at December 31, 2022	(3,382)		(395)		(3,777)		345		(3,432)
Postretirement benefit plan adjustments	—		150		150		(36)		114
Foreign currency translation adjustment	1,204		—		1,204		—		1,204
Balance at December 31, 2023	$	(2,178)	$	(245)	$	(2,423)	$	309	$	(2,114)

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.

Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption	$ 914,998	$ 822,099	$ 825,258	$ 743,805
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal term	1 month
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term	10 years
Retained Earnings
Lessee, Lease, Description [Line Items]
Cumulative effect of new accounting principle in period of adoption	$ 738,511	$ 627,978	$ 545,572	$ 469,943

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Fair Value Measurements	12 Months Ended
Fair Value Measurements	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Depending on the nature of the asset or liability, various techniques and assumptions can be used to estimate fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement as follows: •Level 1 - Quoted prices in active markets for identical assets or liabilities. •Level 2 - Observable inputs other than quoted prices in active markets for similar assets and liabilities. •Level 3 - Inputs that are unobservable inputs for the asset or liability. The Company had no financial assets or liabilities measured at fair value on a recurring basis and did not have any financial instruments for which carrying value differed from its fair value at December 31, 2023 and 2022. As of December 31, 2023, the Company had no outstanding indebtedness on its revolving credit facility under its Credit Agreement. The Company had $91.0 million outstanding on its revolving credit facility as of December 31, 2022. The Company’s other financial instruments primarily consist of cash and cash equivalents, accounts receivable, and accounts payable. The carrying values for these financial instruments approximate fair value. The Company did not have any other material assets or liabilities carried at fair value and measured on a recurring basis as of December 31, 2023 and 2022. Other non-recurring fair value measurements The Company recorded impairment of property, plant and equipment during the year ended December 31, 2022 and recognized impairment charges related to certain intangible assets during the years ended December 31, 2023 and 2021. The Company uses unobservable inputs, classified as Level 3 inputs, in determining the fair value of these assets. See Note 7 "Goodwill and Related Intangible Assets," Note 14 "Discontinued Operations" and Note 15 "Exit Activity Costs and Asset Impairments" for more disclosure regarding the impairment of certain intangible assets and property, plant, and equipment, respectively. The Company also applied fair value principles for the goodwill impairment tests performed during 2023, 2022, and 2021. The Company used two valuation models to estimate the fair values of its reporting units, both of which primarily use Level 3 inputs. See Note 7 "Goodwill and Related Intangible Assets" of the consolidated financial statements for the results of the Company’s goodwill impairment tests. Additionally, the Company's recent acquisition activity, as described in Note 6 "Acquisitions," used Level 3 inputs to estimate fair values allocated to the assets acquired and liabilities assumed.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes (Components of Income (Loss) before Taxes from Continuing Operations) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Domestic	$ 149,348	$ 112,635	$ 93,155
Foreign	(356)	(1,145)	6,407
Income before taxes	$ 148,992	$ 111,490	$ 99,562

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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+ Details

Pension and Other Postretirement Benefits (Schedule of Total Expense for All Retirement Plans) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) plan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Total retirement plan expense	$ 4,147	$ 4,001	$ 3,685
401(k) plan
Defined Benefit Plan Disclosure [Line Items]
Total retirement plan expense	3,804	3,580	3,196
Multiemployer and other defined benefit and pension plans
Defined Benefit Plan Disclosure [Line Items]
Total retirement plan expense	$ 92	79	78
Number of plans \| plan	1
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Total retirement plan expense	$ 251	$ 342	$ 411

Equity-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 03, 2023	May 02, 2023	May 04, 2022	May 03, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0	0
Market price of common stock, per share	$ 78.98
Unrecognized compensation cost	$ 13.1
Weighted average cost recognition period, in years	2 years
Accrued equity based compensation	$ 20.0	$ 15.4
Grant of options outstanding (in shares)	1
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Typical vesting period, in years	4 years
Performance stock units (1)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	85,323
Forfeited in period (in shares)	18,729
Performance stock units outstanding (in shares)	136,246	211,368
Performance stock units (1) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance period		3 years
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded (in shares)	99,820
Forfeited in period (in shares)	24,908
Performance stock units outstanding (in shares)	232,970	235,370
Accrued equity based compensation	$ 17.3	$ 13.4
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance under the Plan	885,000
Non-Employee Directors Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance under the Plan	86,000
Non-Employee Directors Plan \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized						200,000	100,000
Management Stock Purchase Plan \| Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement By Share-based Payment Award, Average Company Stock Price, Measurement Period	200 days
Amended 2018 Plan \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized				1,550,000	1,000,000
2015 Plan \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance under the Plan				81,707
Accrued Expenses, Current
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	$ 2.0	2.3
Non Current Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation	$ 18.0	$ 13.1

Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Summary of Compensation Expense Connection with Awards

along with the related tax benefits recognized during the years ended December 31 (in thousands) were as follows:


	2023		2022		2021
Total stock compensation expense	$	9,750	$	8,334	$	8,652
Tax benefits recognized related to stock compensation expense	$	2,516	$	2,175	$	2,189

Schedule of Number of Awards and Weighted Average Grant Date Fair Value

The following table provides the number of stock units and common stock granted during the years ended December 31, along with the weighted-average grant-date fair value of each award:


	2023			2022			2021
Awards	Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards	Weighted Average Grant Date Fair Value		Number of Awards	Weighted Average Grant Date Fair Value


Deferred stock units	6,351	$	54.33	2,460	$	42.69	7,536	$	83.58
Common stock	8,468	$	54.33	15,652	$	42.49	2,512	$	83.58
Restricted stock units	99,820	$	61.93	132,430	$	43.92	72,243	$	79.28
Performance stock units (1)	85,323	$	53.22	108,464	$	47.00	62,778	$	87.84

Summary of Ranges of Outstanding and Exercisable Options

The following table summarizes the Company's outstanding and exercisable options at December 31, 2023:


Exercise Price	Options Outstanding	Weighted Average Remaining Contractual Life (in years)	Weighted Average Exercise Price		Options Exercisable	Weighted Average Exercise Price
$39.55	5,000	3.26	$	39.55	5,000	$	39.55

Summary of Stock Options Transactions

The following table summarizes information about stock option transactions:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Balance at January 1, 2021	41,500	$	29.38

Exercised	(36,500)	$	27.99

Balance at December 31, 2021	5,000	$	39.55


Exercised	—	$	—
Balance at December 31, 2022	5,000	$	39.55
Exercised	—	$	—
Balance at December 31, 2023	5,000	$	39.55	3.26	$	197,150

Summary of Information About Restricted Stock Units and Weighted Average Grant Date Fair Value

The following table summarizes information about non-vested restricted stock units and performance stock units (that will convert to shares upon vesting) and common stock:


	Restricted Stock Units	Weighted Average Grant Date Fair Value		Common Stock	Weighted Average Grant Date Fair Value		Performance Stock Units	Weighted Average Grant Date Fair Value		Deferred Stock Units (2)	Weighted Average Grant Date Fair Value
Balance at December 31, 2022	235,370	$	49.87	—	$	—	211,368	$	50.96	40,350	$	45.16
Granted	99,820	$	61.93	8,468	$	54.33	85,323	$	53.22	6,351	$	54.33
Adjustments (1)	—	$	—	—	$	—	(70,610)	$	50.72	—	$	—
Vested	(77,312)	$	53.37	(8,468)	$	54.33	(71,106)	$	51.74	(2,222)	$	36.47
Forfeited	(24,908)	$	50.99	—	$	—	(18,729)	$	49.69	—	$	—
Balance at December 31, 2023	232,970	$	53.75	—	$	—	136,246	$	52.27	44,479	$	46.90

(2) Vested and issuable upon termination from service as a member of the Company's Board of Directors.

Aggregate Intrinsic Value of Options Exercised and Aggregate Fair Value of Restricted Stock Units and Restricted Shares that Vested


	2023		2022		2021
Aggregate intrinsic value of options exercised	$	—	$	—	$	2,103
Aggregate fair value of vested restricted stock units	$	4,740	$	3,920	$	6,320
Aggregate fair value of vested common stock	$	460	$	665	$	370
Aggregate fair value of vested performance stock units	$	3,999	$	6,729	$	9,080
Aggregate fair value of vested deferred stock units	$	345	$	105	$	630

Cash Paid to Settle Liability Awards


	2023		2022		2021
Restricted stock units credited	48,921		12,365		30,475
Restricted stock units balance, vested and unvested	199,946		158,644		223,892
Share-based liabilities paid (in thousands)	$	2,392	$	3,689	$	4,915
MSPP expense (recovery) (in thousands)	$	4,710	$	(4,459)	$	6,034

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principles of consolidation

Use of estimates

Segment reporting

The Company has four reportable segments: Renewables, Residential, Agtech and Infrastructure. For further disclosure regarding the Company's reportable segments, refer to Note 20 "Segment Information."

Revenue recognition

Performance obligations satisfied at a point in time and significant judgments

Performance obligations satisfied over time and significant judgments

Contract assets and contract liabilities

Costs to obtain a contract with a customer

Cash and cash equivalents

All highly liquid investments with a maturity of three months or less are considered cash equivalents.

Accounts receivable and allowance for doubtful accounts and contract assets

Estimates are used to determine the allowance. These estimates are based on assessment of anticipated payment and all other historical, current and future information that is reasonably available.

The following table summarizes activity recorded within the allowance for doubtful accounts and contract assets balances for the years ended December 31 (in thousands):


	2023		2022		2021
Beginning balance	$	3,746	$	3,738	$	3,529
Bad debt expense, net of recoveries	3,148		1,221		898
Accounts written off against allowance and other adjustments	(1,322)		(1,213)		(689)
Ending balance	$	5,572	$	3,746	$	3,738

Concentrations of credit risk in accounts receivable are limited to those from significant customers that are believed to be financially sound. As of December 31, 2023 and 2022, the Company's most significant customer is a home improvement retailer. The home improvement retailer purchases from the Residential segment. Accounts receivable as a percentage of consolidated accounts receivable from the home improvement retailer was 13% and 14% as of December 31, 2023 and 2022, respectively. Net sales to the home improvement retailer as a percentage of consolidated net sales were 13%, 14%, and 13% during the years ended December 31, 2023, 2022 and 2021, respectively.

Inventories

Property, plant, and equipment

The table below sets forth the depreciation expense recognized during the years ended December 31 (in thousands):


	2023		2022		2021
Depreciation expense	$	16,139	$	14,583	$	13,110

Acquisition related assets and liabilities

Goodwill and other intangible assets

amortized over their estimated useful lives. For additional disclosure of the Company's goodwill and other intangible assets refer to Note 7 "Goodwill and Related Intangible Assets."

Impairment of long-lived assets

Leases

Deferred charges

Advertising

The Company expenses advertising and marketing costs as incurred. For the years ended December 31, 2023, 2022 and 2021, advertising and marketing costs were $10.0 million, $10.9 million, and $8.0 million, respectively.

Foreign currency transactions and translation

Income taxes

Equity-based compensation

Earnings per share

Recent accounting pronouncements

Recent Accounting Pronouncements Not Yet Adopted

Standard

Description

Financial Statement Effect or Other Significant Matters

ASU No. 2023-07

Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures

ASU No. 2023-09

Income Taxes (Topic 740): Improvements to Income Tax Disclosures

The Company determined that all other ASUs effective in or after 2023 that are not listed above are either not applicable or will not have a material impact on the Company's consolidated financial statements and related disclosures.

Revenue - Narrative (Details) - USD ($)	12 Months Ended
Revenue - Narrative (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Asset recognized related to incremental costs of obtaining a contract	$ 0	$ 0
Costs in excess of billings	52,035,000	41,732,000	$ 54,437,000
Unearned revenue	3,941,000	4,572,000	3,681,000
Revenue recognized which was in contract liabilities	35,500,000	44,400,000	53,000,000
Billings in excess of costs
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Unearned revenue	$ 44,735,000	$ 35,017,000	$ 46,711,000
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract payment terms	30 days
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract payment terms	60 days
Remaining performance obligation expected timing of satisfaction	1 year

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable at December 31 consisted of the following (in thousands):


	2023		2022
Trade accounts receivable	$	178,087	$	179,170
Costs in excess of billings	52,035		41,732
Total accounts receivables	230,122		220,902
Less allowance for doubtful accounts	(5,572)		(3,746)
Accounts receivable, net	$	224,550	$	217,156

Acquisitions (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 05, 2023	Dec. 31, 2023
Quality Aluminum Products
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 14,700
Quality Aluminum Products \| Trademarks
Business Acquisition [Line Items]
Indefinite-lived intangible assets acquired		2,800
Quality Aluminum Products \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 11,900
Weighted-Average Amortization Period		12 years
Privately Held Utah-Based Company
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 5,200
Privately Held Utah-Based Company \| Trademarks
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 300
Weighted-Average Amortization Period	2 years
Privately Held Utah-Based Company \| Customer relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 4,900
Weighted-Average Amortization Period	12 years

Discontinued Operations (Narrative) (Details) - USD ($)			12 Months Ended
Discontinued Operations (Narrative) (Details) - USD ($)	Apr. 01, 2023	Feb. 23, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations before taxes			$ 0	$ 0	$ 1,479,000
Discontinued Operation Gain Loss On Disposal Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag					adjustment to loss on disposal
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations before taxes			$ 0	$ 0	$ 1,500,000
Net sales					20,400,000
Operating expenses					17,500,000
Adjustment to loss on disposal					$ 1,400,000
Discontinued Operations, Disposed of by Sale \| Industrial Business Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds of sale of business		$ 38,000,000
Seller note principal amount		13,000,000
Estimated pre-tax loss		30,000,000
Held for sale valuation allowance		$ 29,600,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Japan-Based Solar Racking Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Held for sale valuation allowance	$ 600,000
Proceeds from divestiture	$ 8,000,000

Pension and Other Postretirement Benefits

12 Months Ended

Dec. 31, 2023

Other Postretirement Benefits [Abstract]

Pension and Other Postretirement Benefits

PENSION AND OTHER POSTRETIREMENT BENEFITS

The Company has a 401(k) plan in which all employees of U.S. subsidiaries are eligible to participate.

The Company contributes to a multiemployer defined benefit pension plan under the terms of a collective-bargaining agreement that covers union-represented employees.

The Company has an unfunded postretirement healthcare plan which provides health insurance to certain retired employees and their spouses. This plan has been frozen, no current employees participate and no additional participants will be added to the plan in the future.

Total expense for all retirement plans for the years ended December 31 was (in thousands):


	2023		2022		2021
401(k) plan	$	3,804	$	3,580	$	3,196
Multiemployer and other defined benefit and pension plans	92		79		78
Postretirement healthcare plan	251		342		411
Total retirement plan expense	$	4,147	$	4,001	$	3,685

The Company's one multiemployer plan is underfunded and has a rehabilitation plan in place. The rehabilitation plan requires minimum contributions from the Company. Given the status of this plan, it is reasonably possible that future contributions to the plan will increase although the Company cannot reasonably estimate a possible range of increased contributions as of December 31, 2023.

The following table presents the changes in the accumulated postretirement benefit obligation related to the Company’s unfunded postretirement healthcare benefits at December 31 (in thousands):


	2023		2022
Projected benefit obligation at January 1	$	4,229	$	6,202

Interest cost	194		127


Actuarial loss (gain)	59		(1,784)
Benefits paid, net of contributions	(274)		(316)
Projected benefit obligation at December 31	4,208		4,229
Fair value of plan assets	—		—
Under funded status	(4,208)		(4,229)
Unamortized prior service cost	292		352
Unrecognized actuarial (gain)	(219)		(278)
Net amount recognized	$	(4,135)	$	(4,155)

Amounts recognized in the consolidated financial statements consisted of (in thousands):


	2023		2022
Accrued postretirement benefit liability:
Current portion	$	357	$	353
Long term portion	3,851		3,876
Pre-tax accumulated other comprehensive loss – unamortized post-retirement healthcare costs	(73)		(74)
Net amount recognized	$	4,135	$	4,155

The measurement date used to determine postretirement benefit obligation measures was December 31.

Components of net periodic postretirement benefit cost charged to expense for the years ended December 31 were as follows (in thousands):


	2023			2022			2021

Interest cost	$	194		$	127		$	125
Amortization of unrecognized prior service cost	60			60			44
Loss amortization (2)	—			24			113
Net periodic benefit cost	$	254		$	211		$	282
Assumptions used to calculate the benefit obligation:
Discount rate	4.7		%	4.8		%	2.4		%
Annual rate of increase in the per capita cost of:
Medical costs before age 65 (1)	7.8		%	7.8		%	7.0		%
Medical costs after age 65 (1)	4.6		%	4.5		%	4.5		%
Prescription drug costs (1)	7.8		%	7.8		%	7.0		%

(1) For 2023 and 2022, it was assumed that these rates would gradually decline to 4.0% by 2075. For 2021, it was assumed that these rates would gradually decline to 3.8% by 2075.

Expected benefit payments from the plan for the years ended December 31 are as follows (in thousands):


	2024		2025		2026		2027		2028		Years 2029 - 2033
Expected benefit payments	$	357	$	370	$	362	$	361	$	356	$	1,646

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability


	2023		2022		2021
Costs in excess of billings	$	52,035	$	41,732	$	54,437
Billings in excess of costs	(44,735)		(35,017)		(46,711)
Unearned revenue	(3,941)		(4,572)		(3,681)