ACQUISITIONS |
6 Months Ended |
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Jun. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| ACQUISITIONS | ACQUISITIONS The Company accounts for business combinations using the acquisition method as defined in FASB ASC Topic 805, Business Combinations. Management uses its best estimates and assumptions to value the assets acquired and liabilities assumed at the acquisition date. Such estimates are inherently uncertain and may be subject to refinement. As a result, during the measurement period of up to one year from the acquisition date, the Company may record adjustments to the acquisition accounting, to the extent new information becomes available. Building Materials and Hardware Retail Stores During the six months ended June 30, 2026, the Company, through its wholly owned subsidiaries, entered into four separate purchase agreements to acquire substantially all of the business operations of six building supplies, lumber, and hardware retail stores for an aggregate purchase price of $4 million, of which $3 million has been paid as of June 30, 2026. The purchase price was preliminarily allocated to the estimated fair value of receivables, inventories, and other assets and liabilities acquired as of their respective acquisition dates of $4 million. No goodwill resulted from these transactions. Assuming the acquisition of these businesses were consummated as of January 1, 2025, the pro forma effect on revenue and earnings are not material to the condensed consolidated financial statements. Carbide Tooling and Industrial Supply, Inc. On January 21, 2026, the Company entered into purchase agreements to acquire substantially all of the assets and business operations of an industrial supplier business known as Carbide Tooling and Industrial Supply, located in Waller, Texas, for an aggregate purchase price of $6 million. Approximately $5 million of the purchase price was preliminarily allocated to the estimated fair value of receivables, inventories, fixed assets, and other assets and liabilities acquired, while the remainder of $1 million was recorded to goodwill. The goodwill relating to this acquisition is expected to be deductible for income tax purposes over a fifteen year period. Assuming the acquisition of the business had occurred as of January 1, 2025, the pro forma effect on revenue and earnings would not have been material to the condensed consolidated financial statements.
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