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ROCK Gibraltar Industries

Cover Page

Cover Page - shares3 Months Ended
Mar. 31, 2021May 04, 2021
Cover [Abstract]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number0-22462
Entity Registrant NameGIBRALTAR INDUSTRIES, INC.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number16-1445150
Entity Address, Address Line One3556 Lake Shore Road
Entity Address, Address Line TwoP.O. Box 2028
Entity Address, City or TownBuffalo
Entity Address, State or ProvinceNY
Entity Address, Postal Zip Code14219-0228
City Area Code716
Local Phone Number826-6500
Title of 12(b) SecurityCommon Stock, $0.01 par value per share
Trading SymbolROCK
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Entity Common Stock, Shares Outstanding32,629,646
Amendment Flagfalse
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Central Index Key0000912562
Current Fiscal Year End Date--12-31

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Statement [Abstract]
Net Sales $ 287,592 $ 215,401
Cost of sales227,574 165,540
Gross profit60,018 49,861
Selling, general, and administrative expense47,203 37,084
Income from operations12,815 12,777
Interest expense444 44
Other expense315 518
Income before taxes12,056 12,215
Provision for income taxes1,560 2,313
Income from continuing operations10,496 9,902
Discontinued operations:
Income before taxes2,570 2,830
Provision for income taxes304 673
Income from discontinued operations2,266 2,157
Net income $ 12,762 $ 12,059
Net earnings per share – Basic:
Income from continuing operations (in dollars per share) $ 0.32 $ 0.30
Income from discontinued operations (in dollars per share)0.070.07
Net income (in dollars per share) $ 0.39 $ 0.37
Weighted average shares outstanding -- Basic32,771 32,586
Net earnings per share – Diluted:
Income from continuing operations (in dollars per share) $ 0.32 $ 0.30
Income from discontinued operations (in dollars per share)0.070.07
Net income (in dollars per share) $ 0.39 $ 0.37
Weighted average shares outstanding -- Diluted33,104 32,883

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Net income $ 12,762 $ 12,059
Other comprehensive income (loss):
Foreign currency translation adjustment3,198 (5,898)
Minimum post retirement benefit plan adjustments27 18
Other comprehensive income (loss)3,225 (5,880)
Total comprehensive income $ 15,987 $ 6,179

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Current assets:
Cash and cash equivalents $ 20,731 $ 32,054
Accounts receivable, net of allowance of $3,319 and $3,529199,598 197,990
Inventories, net107,004 98,307
Prepaid expenses and other current assets24,684 19,671
Assets of discontinued operations0 77,438
Total current assets352,017 425,460
Property, plant, and equipment, net91,717 89,562
Operating lease assets23,465 25,229
Goodwill523,446 514,279
Acquired intangibles151,877 156,365
Other assets12,669 1,599
Total assets1,155,191 1,212,494
Current liabilities:
Accounts payable135,130 134,738
Accrued expenses71,946 83,505
Billings in excess of cost51,591 34,702
Liabilities of discontinued operations0 49,295
Total current liabilities258,667 302,240
Long-term debt58,023 85,636
Deferred income taxes37,996 39,057
Non-current operating lease liabilities16,165 17,730
Other non-current liabilities25,932 24,026
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized 10,000 shares; none outstanding0 0
Common stock, $0.01 par value; authorized 50,000 shares; 33,711 shares and 33,568 shares issued and outstanding in 2021 and 2020337 336
Additional paid-in capital308,147 304,870
Retained earnings482,705 469,943
Accumulated other comprehensive income (loss)764 (2,461)
Cost of 1,082 and 1,028 common shares held in treasury in 2021 and 2020(33,545)(28,883)
Total stockholders’ equity758,408 743,805
Total liabilities and shareholders' equity $ 1,155,191 $ 1,212,494

Consolidated Balance Sheets (Pa

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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash Flows from Operating Activities
Net income available to common stockholders $ 12,762 $ 12,059
Income from discontinued operations2,266 2,157
Income from continuing operations10,496 9,902
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization7,974 4,780
Stock compensation expense2,368 1,665
Exit activity costs, non-cash1,193 0
Benefit of deferred income taxes0 (178)
Other, net(162)386
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable(2,522)(7,180)
Inventories(15,262)(7,242)
Other current assets and other assets(435)6,218
Accounts payable1,470 (18,909)
Accrued expenses and other non-current liabilities(6,334)(33,268)
Net cash used in operating activities of continuing operations(1,214)(43,826)
Net cash (used in) provided by operating activities of discontinued operations(2,011)814
Net cash used in operating activities(3,225)(43,012)
Cash Flows from Investing Activities
Purchases of property, plant, and equipment(4,389)(2,144)
Acquisitions, net of cash acquired(2)(54,539)
Net proceeds from sale of business26,991 0
Net proceeds from sale of property and equipment0 52
Net cash provided by (used in) investing activities of continuing operations22,600 (56,631)
Net cash used in investing activities of discontinued operations(176)(678)
Net cash provided by (used in) investing activities22,424 (57,309)
Cash Flows from Financing Activities
Proceeds from long-term debt20,000 0
Long-term debt payments(46,636)0
Purchase of treasury stock at market prices(4,662)(4,184)
Net proceeds from issuance of common stock910 24
Net cash used in financing activities(30,388)(4,160)
Effect of exchange rate changes on cash(134)(916)
Net decrease in cash and cash equivalents(11,323)(105,397)
Cash and cash equivalents at beginning of year32,054 191,363
Cash and cash equivalents at end of period $ 20,731 $ 85,966

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockAdditional Paid-In CapitalRetained EarningsRetained EarningsCumulative Effect, Period of Adoption, AdjustmentAccumulated Other Comprehensive (Loss) IncomeTreasury Stock
Balance, shares at Dec. 31, 201933,192 906
Balance, value at Dec. 31, 2019 $ 673,964 $ 332 $ 295,582 $ 405,668 $ (291) $ (5,391) $ (22,227)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income12,059 12,059
Foreign currency translation adjustment(5,898)(5,898)
Minimum post retirement benefit plan adjustments, net of taxes18 18
Stock compensation expense1,665 1,665
Stock options exercised, shares3
Stock options exercised24 24
Net settlement of restricted stock units, shares193 80
Net settlement of restricted stock units(4,184) $ 2 (2) $ (4,184)
Balance, shares at Mar. 31, 202033,388 986
Balance, value at Mar. 31, 2020677,357 $ 334 297,269 417,436 (11,271) $ (26,411)
Balance, shares at Dec. 31, 202033,568 1,028
Balance, value at Dec. 31, 2020743,805 $ 336 304,870 469,943 (2,461) $ (28,883)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income12,762 12,762
Foreign currency translation adjustment3,198 3,198
Minimum post retirement benefit plan adjustments, net of taxes27 27
Stock compensation expense2,368 2,368
Stock options exercised, shares25
Stock options exercised910 910
Net settlement of restricted stock units, shares118 54
Net settlement of restricted stock units(4,662) $ 1 (1) $ (4,662)
Balance, shares at Mar. 31, 202133,711 1,082
Balance, value at Mar. 31, 2021 $ 758,408 $ 337 $ 308,147 $ 482,705 $ 764 $ (33,545)

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Adjustment to pension benefit liability, taxes $ 10 $ 7

Consolidated Financial Statemen

Consolidated Financial Statements3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED FINANCIAL STATEMENTSCONSOLIDATED FINANCIAL STATEMENTS The accompanying unaudited consolidated financial statements of Gibraltar Industries, Inc. (the "Company") have been prepared by management in accordance with U.S. generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments consisting of normal recurring adjustments considered necessary for the fair presentation of results for the interim period have been included. The Company's operations are seasonal; for this and other reasons, such as the impact of the COVID-19 pandemic, financial results for any interim period are not necessarily indicative of the results expected for any subsequent interim period or for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in our annual Form 10-K for the year ended December 31, 2020. The balance sheet at December 31, 2020 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by U.S. generally accepted accounting principles for complete financial statements.

Recent Accounting Pronouncement

Recent Accounting Pronouncements (Notes)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTSRECENT ACCOUNTING PRONOUNCEMENTS Recent Accounting Pronouncements Adopted Standard Description Financial Statement Effect or Other Significant Matters ASU No. 2019-12 Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and improve consistent application by clarifying and amending existing guidance. The amendments of this standard are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The standard is effective for the Company as of January 1, 2021. The Company adopted the amendments in this update and the adoption did not have a material impact to the Company’s financial statements. Date of adoption: Q1 2021

Accounts Receivable and Allowan

Accounts Receivable and Allowance for Doubtful Accounts3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTSACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable consists of the following (in thousands): March 31, 2021 December 31, 2020 Trade accounts receivable $ 175,277 $ 174,604 Costs in excess of billings 27,640 26,915 Total accounts receivables 202,917 201,519 Less allowance for doubtful accounts and contract assets (3,319) (3,529) Accounts receivable, net $ 199,598 $ 197,990 Refer to Note 4 "Revenue" concerning the Company's costs in excess of billings. The following table provides a roll-forward of the allowance for credit losses, for the three month period ended March 31, 2021, that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected. Beginning balance as of January 1, 2021 $ 3,529 Bad debt expense, net of recoveries (159) Accounts written off against allowance and other adjustments (51) Ending balance as of March 31, 2021 $ 3,319

Revenue

Revenue3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
RevenueREVENUE Sales includes revenue from contracts with customers for: designing, engineering, manufacturing and installation of solar racking systems and greenhouse structures; electrical balance of systems; extraction systems; roof and foundation ventilation products; centralized mail systems and electronic package solutions; rain dispersion products and roofing accessories; retractable awnings; gutter guards; expansion joints and structural bearings. Refer to Note 15 "Segment Information" for additional information related to revenue recognized by timing of transfer of control by reportable segment. As of March 31, 2021, the Company's remaining performance obligations are part of contracts that have an original expected duration of one year or less.

Inventories

Inventories3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIESINVENTORIES Inventories consist of the following (in thousands): March 31, 2021 December 31, 2020 Raw material $ 73,364 $ 66,018 Work-in-process 4,844 5,382 Finished goods 32,757 31,205 Gross inventory $ 110,965 $ 102,605 Less reserves (3,961) (4,298) Total inventories, net $ 107,004 $ 98,307

Acquisitions

Acquisitions3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]
ACQUISITIONSACQUISITIONS 2020 Acquisitions During the year ended December 31, 2020, the Company acquired five businesses in separate transactions, two of which are included within our Renewables segment, two in our Agtech segment, and one in our Residential segment. The purchase consideration for each acquisition was allocated to the assets acquired and liabilities assumed based upon their respective fair values. On December 31, 2020, the Company purchased all the outstanding membership interests of TerraSmart LLC ("TerraSmart"), a leading provider of screw-based, ground-mount solar racking technology, particularly used for solar projects installed on challenging terrain. The results of TerraSmart have been included in the Company's consolidated financial results since the date of acquisition within the Company's Renewables segment. The preliminary purchase consideration for the acquisition of TerraSmart was $223.7 million, which includes a preliminary working capital adjustment and certain other adjustments provided for in the stock purchase agreement. The purchase price for the TerraSmart acquisition was preliminarily allocated to the assets acquired and liabilities assumed based upon their respective fair values estimated as of the date of acquisition. The Company has commenced the process to confirm the existence, condition and completeness of the assets acquired and liabilities assumed to establish fair values of such acquired assets and assumed liabilities and to determine the amount of goodwill to be recognized as of the date of acquisition. Due to the timing of the acquisition, we continue to gather information supporting the acquired assets and assumed liabilities. Accordingly, all amounts recorded are provisional. These provisional amounts are subject to change if new information is obtained concerning facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The final determination of the fair value of certain assets and liabilities will be completed within a measurement period of up to one year from the date of acquisition. The final values may also result in changes to depreciation and amortization expense related to certain assets such as property, plant and equipment and acquired intangible assets. The preliminary excess consideration was recorded as goodwill and approximated $153.7 million, all of which is deductible for tax purposes. Goodwill represents future economic benefits arising from other assets acquired that could not be individually identified including workforce additions, growth opportunities, and increased presence in the domestic solar energy market. The final purchase price allocation will be completed no later than December 31, 2021. The preliminary allocation of the TerraSmart purchase consideration to the estimated fair value of the assets acquired and liabilities assumed is as follows as of the date of the acquisition (in thousands): Cash $ 1,491 Working capital 7,158 Property, plant and equipment 9,396 Acquired intangible assets 51,700 Other assets 1,855 Other liabilities (1,636) Goodwill 153,690 Fair value of purchase consideration $ 223,654 The intangible assets acquired in the TerraSmart acquisition consisted of the following (in thousands): Fair Value Weighted-Average Amortization Period Trademarks $ 16,400 Indefinite Trademarks 300 7 years Technology 2,500 15 years Customer relationships 24,000 10 years Non-compete agreements 2,200 5 years Backlog 6,300 Less than 1 year Total $ 51,700 On December 11, 2020, the Company purchased all the outstanding stock of Sunfig Corporation ("Sunfig"), a provider of software solutions that optimize solar energy investments through upstream design, performance and financial modeling, for a preliminary purchase consideration of $3.8 million, which includes a preliminary working capital adjustment and certain other adjustments provided for in the stock purchase agreement. The results of Sunfig have been included in the Company's consolidated financial results since the date of acquisition within the Company's Renewables segment. The excess consideration was recorded as goodwill and approximated $3.2 million, all of which is deductible for tax purposes. On October 15, 2020, the Company purchased substantially all of the assets of Architectural Mailboxes LLC ("Architectural Mailboxes"), a complementary addition to the Company's existing mail and package solutions business within the Residential segment, for a preliminary purchase consideration of $26.9 million, which includes a working capital adjustment and certain other adjustments provided for in the asset purchase agreement. The results of Architectural Mailboxes have been included in the Company's consolidated financial results since the date of acquisition within the Company's Residential segment. The excess consideration was recorded as goodwill and approximated $7.4 million, all of which is deductible for tax purposes. On February 13, 2020, the Company purchased substantially all of the assets of Delta Separations, LLC and Teaching Tech, LLC (collectively, "Delta Separations") for a purchase consideration of $47.1 million, which includes a working capital adjustment and certain other adjustments provided for in the asset purchase agreement. Delta Separations was a privately-held engineering company primarily engaged in the assembly and sale of centrifugal ethanol-based extraction systems. The results of Delta Separations have been included in the Company's consolidated financial results since the date of acquisition within the Company's Agtech segment. The excess consideration was recorded as goodwill and approximated $32.2 million, all of which is deductible for tax purposes. On January 15, 2020, the Company purchased substantially all of the assets of Thermo Energy Systems Inc. ("Thermo"), a Canadian-based, privately held provider of commercial greenhouse solutions in North America providing growing infrastructure for the plant based organic food market, for a purchase consideration of $7.3 million. The results of Thermo have been included in the Company's consolidated financial results since the date of acquisition within the Company's Agtech segment. Goodwill of approximately $18.7 million was recorded, all of which is deductible for tax purposes. The preliminary allocation of the purchase price for Sunfig and Architectural Mailboxes remains subject to adjustments during the measurement period as third-party valuations are finalized. The preliminary and final allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo is as follows as of the respective date of the acquisition (in thousands): Cash $ 200 Working capital (14,957) Property, plant and equipment 1,740 Acquired intangible assets 38,296 Other current assets 1,528 Other assets 2,381 Other liabilities (5,508) Goodwill 61,422 Fair value of purchase consideration $ 85,102 Goodwill represents future economic benefits arising from other assets acquired that could not be individually identified including workforce additions, growth opportunities, and increased presence in the respective markets. The intangible assets acquired in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo consisted of the following (in thousands): Fair Value Weighted-Average Amortization Period Trademarks $ 8,200 Indefinite Trademarks 1,177 3 years Technology 8,175 7 - 15 years Customer relationships 18,780 5 - 13 years Non-compete agreements 1,036 5 years Backlog 928 Less than 1 year Total $ 38,296 In determining the allocation of the purchase price to the assets acquired and the liabilities assumed, the Company uses all available information to make fair value determinations using Level 3 unobservable inputs in which little or no market data exists, and therefore, engages independent valuation specialists to assist in the fair value determination of the acquired long-lived assets. The acquisition of TerraSmart was financed through a combination of cash on hand and borrowings under the Company's revolving credit facility. The acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo were funded from available cash on hand.

Goodwill and Related Intangible

Goodwill and Related Intangible Assets3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND RELATED INTANGIBLE ASSETSGOODWILL AND RELATED INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the three months ended March 31, 2021 are as follows (in thousands): Renewables Residential Agtech Infrastructure Total Balance at December 31, 2020 $ 192,527 $ 205,452 $ 84,622 $ 31,678 $ 514,279 Adjustments to prior year acquisitions 9,951 — — 9,951 Foreign currency translation (989) — 205 — (784) Balance at March 31, 2021 $ 201,489 $ 205,452 $ 84,827 $ 31,678 $ 523,446 The Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company determined that a triggering event has not occurred which would require an interim impairment test to be performed. Acquired Intangible Assets Acquired intangible assets consist of the following (in thousands): March 31, 2021 December 31, 2020 Gross Accumulated Gross Accumulated Indefinite-lived intangible assets: Trademarks $ 56,670 $ — $ 56,570 $ — Finite-lived intangible assets: Trademarks 5,831 3,574 5,818 3,385 Unpatented technology 38,892 18,479 38,752 17,765 Customer relationships 98,135 33,298 98,500 31,580 Non-compete agreements 4,888 1,913 4,885 1,747 Backlog 7,235 2,510 7,228 911 154,981 59,774 155,183 55,388 Total acquired intangible assets $ 211,651 $ 59,774 $ 211,753 $ 55,388 The following table summarizes the acquired intangible asset amortization expense for the three months ended March 31 (in thousands): Three Months Ended 2021 2020 Amortization expense $ 4,743 $ 1,984 Amortization expense related to acquired intangible assets for the remainder of fiscal 2021 and the next five years thereafter is estimated as follows (in thousands): 2021 2022 2023 2024 2025 2026 Amortization expense $ 14,140 $ 12,120 $ 11,195 $ 11,014 $ 10,780 $ 8,700

Long-Term Debt

Long-Term Debt3 Months Ended
Mar. 31, 2021
Long-term Debt, Unclassified [Abstract]
LONG-TERM DEBTLONG-TERM DEBT Long-term debt consists of the following (in thousands): March 31, 2021 December 31, 2020 Revolving credit facility $ 59,000 $ 85,000 Other debt — 636 Less unamortized debt issuance costs (977) — Total debt $ 58,023 $ 85,636 Senior Credit Agreement On January 24, 2019, the Company entered into a Sixth Amended and Restated Credit Agreement ("Senior Credit Agreement"), which amended and restated the Company’s Fifth Amended and Restated Credit Agreement dated December 9, 2015, and provides for a revolving credit facility and letters of credit in an aggregate amount equal to $400 million. The Company can request additional financing from the lenders to increase the revolving credit facility to $700 million or enter into a term loan of up to $300 million subject to conditions set forth in the Senior Credit Agreement. The Senior Credit Agreement contains three financial covenants. As of March 31, 2021, the Company was in compliance with all three covenants. Interest rates on the revolving credit facility are based on LIBOR plus an additional margin that ranges from 1.125% to 2.00%. In addition, the revolving credit facility is subject to an undrawn commitment fee ranging between 0.15% and 0.25% based on the Total Leverage Ratio (as defined in the Senior Credit Agreement) and the daily average undrawn balance. The Senior Credit Agreement terminates on January 23, 2024. Borrowings under the Senior Credit Agreement are secured by the trade receivables, inventory, personal property, equipment, and general intangibles of the Company’s significant domestic subsidiaries. Standby letters of credit of $6.2 million have been issued under the Senior Credit Agreement on behalf of the Company as of March 31, 2021. These letters of credit reduce the amount otherwise available under the revolving credit facility. The Company had $334.8 million and $309.2 million of availability under the revolving credit facility at March 31, 2021 and December 31, 2020, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOMEACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME The following tables summarize the cumulative balance of each component of accumulated other comprehensive loss, net of tax, for the three months ended March 31, (in thousands): Foreign Currency Translation Adjustment Minimum post retirement benefit plan Total Pre-Tax Amount Tax (Benefit) Expense Accumulated Other Balance at December 31, 2020 $ (872) $ (2,426) $ (3,298) $ (837) $ (2,461) Minimum post retirement health care plan adjustments — 37 37 10 27 Foreign currency translation adjustment 3,198 — 3,198 — 3,198 Balance at March 31, 2021 $ 2,326 $ (2,389) $ (63) $ (827) $ 764 Foreign Currency Translation Adjustment Minimum post retirement benefit plan Total Pre-Tax Amount Tax (Benefit) Expense Accumulated Other Balance at December 31, 2019 $ (4,173) $ (1,939) $ (6,112) $ (721) $ (5,391) Minimum post retirement health care plan adjustments — 25 25 7 18 Foreign currency translation adjustment (5,898) — (5,898) — (5,898) Balance at March 31, 2020 $ (10,071) $ (1,914) $ (11,985) $ (714) $ (11,271)

Equity-Based Compensation

Equity-Based Compensation3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
EQUITY-BASED COMPENSATIONEQUITY-BASED COMPENSATION On May 4, 2018, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. 2018 Equity Incentive Plan (the "2018 Plan"). The 2018 Plan provides for the issuance of up to 1,000,000 shares of common stock and supplements the remaining shares available for issuance under the Gibraltar Industries, Inc. 2015 Equity Incentive Plan (the "2015 Plan"). Both the 2018 Plan and the 2015 Plan allow the Company to grant equity-based incentive compensation awards, in the form of non-qualified options, restricted shares, restricted stock units, performance shares, performance stock units, and stock rights to eligible participants. In 2016, the stockholders of the Company approved the adoption of the Gibraltar Industries, Inc. 2016 Stock Plan for Non-Employee Directors ("Non-Employee Directors Plan") which allows the Company to grant awards of shares of the Company's common stock to non-employee Directors of the Company and permits the Directors to defer receipt of such shares pursuant to the terms of the Non-Employee Directors Plan. Equity Based Awards - Settled in Stock The following table sets forth the number of equity-based awards granted during the three months ended March 31, which will convert to shares upon vesting, along with the weighted average grant date fair values: 2021 2020 Awards Number of Weighted Number of Weighted Performance stock units (1) 62,778 $ 87.84 123,870 $ 53.29 Restricted stock units 33,187 $ 87.91 42,101 $ 52.31 (1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance or market conditions. The number of shares to be issued may vary between 0% and 200% of the number of performance stock units granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on either the Company’s return on invested capital (“ROIC”) over a one-year performance period or revenue, gross profit and operating profit thresholds over a two (2) PSUs granted in the first quarter of 2020 include 72,239 units that will be converted to shares and issued to recipients in the first quarter of 2023 at 109.5% of the target amount granted, based on the Company’s actual ROIC compared to ROIC target for the performance period ended December 31, 2020. Equity Based Awards - Settled in Cash The Company's equity-based liability is comprised of awards under a management stock purchase plan. As of March 31, 2021, the Company's total share-based liabilities recorded on the consolidated balance sheet were $19.3 million, of which $16.4 million was included in non-current liabilities. The share-based liabilities as of December 31, 2020 were $18.2 million, of which $14.7 million was included in non-current liabilities. The Management Stock Purchase Plan ("MSPP") provides participants the ability to defer a portion of their compensation, convertible to unrestricted investments, restricted stock units, or a combination of both, or defer a portion of their directors’ fees, convertible to restricted stock units. Employees eligible to defer a portion of their compensation also receive a company-matching award in restricted stock units equal to a percentage of their compensation. The deferrals and related company match are credited to an account that represents a share-based liability. The portion of the account deferred to unrestricted investments is measured at fair market value of the unrestricted investments, and the portion of the account deferred to restricted stock units and company-matching restricted stock units is measured at a 200-day average of the Company’s stock price. The account will be converted to and settled in cash payable to participants upon retirement or a termination of their service to the Company. The following table provides the number of restricted stock units credited to active participant accounts and the payments made with respect to restricted stock units issued under the MSPP during the three months ended March 31,: 2021 2020 Restricted stock units credited 24,085 52,411 Share-based liabilities paid (in thousands) $ 3,510 $ 4,433

Discontinued Operations

Discontinued Operations3 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONSDISCONTINUED OPERATIONS On February 23, 2021, the Company sold the stock of its Industrial business which had been classified as held for sale and reported as a discontinued operation in the Company’s consolidated financial statements for the year ended December 31, 2020. Net proceeds of $38 million, consisting of cash and a $13 million seller note, resulted in an estimated pre-tax loss of $30 million, subject to working capital and other adjustments, of which $29.6 million was recorded when the assets of the Industrial business were written down to fair market value during the fourth quarter of 2020. The results of operations and financial position of the Industrial business have been presented as a discontinued operation in the Company's consolidated financial statements for all periods presented. The Company allocates interest to its discontinued operations in accordance with ASC Subtopic 205-20, “Presentation of Financial Statements – Discontinued Operations.” Interest was allocated based on the amount of net assets held by the discontinued operation in comparison to consolidated net assets. The following carrying amounts of the major classes of assets and liabilities included in discontinued operations related to the Industrial business has been segregated from the Company's continuing operations and are reported as assets and liabilities of discontinued operations, respectively, in the consolidated balance sheet at December 31, 2020 (in thousands): December 31, 2020 Assets Accounts receivable, net $ 11,261 Inventories, net 13,041 Prepaid expenses and other current assets 21,310 Total current assets (1) 45,612 Property, plant, and equipment, net 16,999 Operating lease assets 6,470 Goodwill 22,475 Acquired intangibles 15,482 Loss recognized on classification as held for sale (29,600) Total noncurrent assets (1) 31,826 Total assets classified as held for sale $ 77,438 Liabilities Accounts payable $ 10,708 Accrued expenses 9,274 Total current liabilities (1) 19,982 Deferred income taxes 24,657 Non-current operating lease liabilities 4,639 Other non-current liabilities 17 Total noncurrent liabilities (1) 29,313 Total liabilities classified as held for sale $ 49,295 (1) The assets and liabilities of the discontinued operations were classified as current on the December 31, 2020 consolidated balance sheet, as it was probable that the sale would occur and proceeds will be collected within one year. Components of income from discontinued operations before taxes, including the interest allocated to discontinued operations, for the three months ended March 31 are as follows (in thousands): 2021 2020 Net sales $ 20,391 $ 34,038 Operating expenses 17,493 31,202 Adjustment to loss on disposal 328 — Interest expense allocation — 6 Income from discontinued operations before taxes $ 2,570 $ 2,830

Exit Activity Costs and Asset I

Exit Activity Costs and Asset Impairments3 Months Ended
Mar. 31, 2021
Restructuring and Related Activities [Abstract]
EXIT ACTIVITY COSTS AND ASSET IMPAIRMENTSEXIT ACTIVITY COSTS AND ASSET IMPAIRMENTSThe Company has incurred exit activity costs and asset impairment charges as a result of its 80/20 simplification and portfolio management initiatives. These initiatives have resulted in the identification of low-volume, low margin, internally-produced products which have been or will be outsourced or discontinued, the simplification of processes, the sale and exiting of less profitable businesses or product lines, and a reduction in our manufacturing footprint. Exit activity costs were incurred during the three months ended March 31, 2021 which related to moving and closing costs, contract terminations, and severance, along with asset impairment charges related to the write-down of inventory and impairment of machinery and equipment associated with discontinued product lines, as a result of process simplification initiatives. In conjunction with these initiatives, the Company closed two facilities during the three months ended March 31, 2021. Exit activity costs were incurred from the above initiatives for the three months ended March 31, 2020. No facilities were closed as a result of these initiatives during the three months ended March 31, 2020. The following tables set forth the asset impairment charges and exit activity costs incurred by segment during the three months ended March 31, related to the restructuring activities described above (in thousands): Three months ended March 31, 2021 2020 Asset impairment charges Exit activity costs (recoveries), net Total Asset impairment charges Exit activity costs Total Renewables $ 1,193 $ 3,778 $ 4,971 $ — $ 18 $ 18 Residential — 65 65 — 221 221 Agtech — 204 204 — — — Infrastructure — — — — — — Corporate — — — — 54 54 Total exit activity costs & asset impairments $ 1,193 $ 4,047 $ 5,240 $ — $ 293 $ 293 The following table provides a summary of where the asset impairments and exit activity costs were recorded in the consolidated statements of income for the three months ended March 31, (in thousands): Three Months Ended 2021 2020 Cost of sales $ 5,047 $ 69 Selling, general, and administrative expense 193 224 Total asset impairment and exit activity charges $ 5,240 $ 293 The following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands): 2021 2020 Balance at January 1 $ 1,030 $ 2,083 Exit activity costs recognized 4,047 293 Cash payments (1,464) (1,365) Balance at March 31 $ 3,613 $ 1,011

Income Taxes

Income Taxes3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXESINCOME TAXES The following table summarizes the provision for income taxes for continuing operations (in thousands) for the three months ended March 31, and the applicable effective tax rates: Three Months Ended 2021 2020 Provision for income taxes $ 1,560 $ 2,313 Effective tax rate 12.9 % 18.9 % The effective tax rate for the three months ended March 31, 2021 and 2020, respectively, was less than the U.S. federal statutory rate of 21% due to favorable discrete items due to an excess tax benefit on stock-based compensation, partially offset by state taxes and nondeductible permanent differences.

Earnings per Share

Earnings per Share3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHAREEARNINGS PER SHARE Basic earnings and weighted-average of diluted shares outstanding are as follows for the three months ended March 31, (in thousands): Three Months Ended 2021 2020 Numerator: Income from continuing operations $ 10,496 $ 9,902 Income from discontinued operations 2,266 2,157 Net income available to common stockholders $ 12,762 $ 12,059 Denominator for basic earnings per share: Weighted average shares outstanding 32,771 32,586 Denominator for diluted earnings per share: Weighted average shares outstanding 32,771 32,586 Common stock options and stock units 333 297 Weighted average shares and conversions 33,104 32,883 The weighted average number of diluted shares does not include potential anti-dilutive common shares issuable pursuant to equity based incentive compensation awards. There were no anti-dilutive shares outstanding for the three months ended March 31, 2021 and 18,000 for the three months ended March 31, 2020.

Segment Information

Segment Information3 Months Ended
Mar. 31, 2021
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
SEGMENT INFORMATIONSEGMENT INFORMATION The Company is organized into four reportable segments on the basis of the production processes, products and services provided by each segment, identified as follows: (i) Renewables, which primarily includes designing, engineering, manufacturing and installation of solar racking and electrical balance of systems; (ii) Residential, which primarily includes roof and foundation ventilation products, centralized mail systems and electronic package solutions, retractable awnings and gutter guards, and rain dispersion products, trims and flashings and other accessories; (iii) Agtech, which provides growing and processing solutions including the designing, engineering, manufacturing and installation of greenhouses, and botanical extraction systems; and (iv) Infrastructure, which primarily includes structural bearings, expansion joints and pavement sealant for bridges, airport runways and roadways, elastomeric concrete, and bridge cable protection systems. When determining the reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. During the first quarter of 2021, the Company reassessed its reportable segments. As a result, the Company's former Renewable Energy and Conservation segment was divided into two reportable segments: Renewables and Agtech. The following table illustrates certain measurements used by management to assess performance of the segments described above for the three months ended March 31, (in thousands): Three Months Ended 2021 2020 Net sales: Renewables $ 85,512 $ 47,263 Residential 140,217 103,419 Agtech 46,739 49,234 Infrastructure 15,124 15,485 Total net sales $ 287,592 $ 215,401 Income from operations: Renewables $ (521) $ 4,359 Residential 22,934 13,725 Agtech 929 1,340 Infrastructure 2,037 1,576 Unallocated Corporate Expenses (12,564) (8,223) Total income from operations $ 12,815 $ 12,777 March 31, 2021 December 31, 2020 Total assets: Renewables $ 393,499 $ 402,796 Residential 427,894 407,132 Agtech 212,507 216,275 Infrastructure 82,833 80,796 Unallocated corporate assets 38,458 28,057 Assets of discontinued operations — 77,438 $ 1,155,191 $ 1,212,494 The following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three months ended March 31 (in thousands): Three Months Ended March 31, 2021 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time 6,971 139,019 5,143 5,470 $ 156,603 Over Time 78,541 1,198 41,596 9,654 130,989 Total net sales $ 85,512 $ 140,217 $ 46,739 $ 15,124 $ 287,592 Three Months Ended March 31, 2020 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time $ 3,696 $ 102,331 $ 14,096 $ 5,457 $ 125,580 Over Time 43,567 1,088 35,138 10,028 89,821 Total net sales $ 47,263 $ 103,419 $ 49,234 $ 15,485 $ 215,401

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Recent Accounting PronouncementsRecent Accounting Pronouncements Adopted Standard Description Financial Statement Effect or Other Significant Matters ASU No. 2019-12 Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and improve consistent application by clarifying and amending existing guidance. The amendments of this standard are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The standard is effective for the Company as of January 1, 2021. The Company adopted the amendments in this update and the adoption did not have a material impact to the Company’s financial statements. Date of adoption: Q1 2021

Accounting Policies (Tables)

Accounting Policies (Tables)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting PrinciplesRecent Accounting Pronouncements Adopted Standard Description Financial Statement Effect or Other Significant Matters ASU No. 2019-12 Income Taxes (Topic 740), Simplifying the Accounting for Income Taxes The amendments in this update simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and improve consistent application by clarifying and amending existing guidance. The amendments of this standard are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The standard is effective for the Company as of January 1, 2021. The Company adopted the amendments in this update and the adoption did not have a material impact to the Company’s financial statements. Date of adoption: Q1 2021

Accounts Receivable and Allow_2

Accounts Receivable and Allowance for Doubtful Accounts (Tables)3 Months Ended
Mar. 31, 2021
Receivables [Abstract]
Schedule of Accounts ReceivableAccounts receivable consists of the following (in thousands): March 31, 2021 December 31, 2020 Trade accounts receivable $ 175,277 $ 174,604 Costs in excess of billings 27,640 26,915 Total accounts receivables 202,917 201,519 Less allowance for doubtful accounts and contract assets (3,319) (3,529) Accounts receivable, net $ 199,598 $ 197,990 The following table provides a roll-forward of the allowance for credit losses, for the three month period ended March 31, 2021, that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected. Beginning balance as of January 1, 2021 $ 3,529 Bad debt expense, net of recoveries (159) Accounts written off against allowance and other adjustments (51) Ending balance as of March 31, 2021 $ 3,319

Inventories (Tables)

Inventories (Tables)3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of InventoriesInventories consist of the following (in thousands): March 31, 2021 December 31, 2020 Raw material $ 73,364 $ 66,018 Work-in-process 4,844 5,382 Finished goods 32,757 31,205 Gross inventory $ 110,965 $ 102,605 Less reserves (3,961) (4,298) Total inventories, net $ 107,004 $ 98,307

Acquisitions (Tables)

Acquisitions (Tables)3 Months Ended
Mar. 31, 2021
Business Combinations [Abstract]
Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities AssumedThe preliminary allocation of the TerraSmart purchase consideration to the estimated fair value of the assets acquired and liabilities assumed is as follows as of the date of the acquisition (in thousands): Cash $ 1,491 Working capital 7,158 Property, plant and equipment 9,396 Acquired intangible assets 51,700 Other assets 1,855 Other liabilities (1,636) Goodwill 153,690 Fair value of purchase consideration $ 223,654 Cash $ 200 Working capital (14,957) Property, plant and equipment 1,740 Acquired intangible assets 38,296 Other current assets 1,528 Other assets 2,381 Other liabilities (5,508) Goodwill 61,422 Fair value of purchase consideration $ 85,102
Schedule of Acquired Intangible AssetsThe intangible assets acquired in the TerraSmart acquisition consisted of the following (in thousands): Fair Value Weighted-Average Amortization Period Trademarks $ 16,400 Indefinite Trademarks 300 7 years Technology 2,500 15 years Customer relationships 24,000 10 years Non-compete agreements 2,200 5 years Backlog 6,300 Less than 1 year Total $ 51,700 The intangible assets acquired in the acquisitions of Sunfig, Architectural Mailboxes, Delta Separations and Thermo consisted of the following (in thousands): Fair Value Weighted-Average Amortization Period Trademarks $ 8,200 Indefinite Trademarks 1,177 3 years Technology 8,175 7 - 15 years Customer relationships 18,780 5 - 13 years Non-compete agreements 1,036 5 years Backlog 928 Less than 1 year Total $ 38,296

Goodwill and Related Intangib_2

Goodwill and Related Intangible Assets (Tables)3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule Of Changes In Carrying Amount Of GoodwillThe changes in the carrying amount of goodwill for the three months ended March 31, 2021 are as follows (in thousands): Renewables Residential Agtech Infrastructure Total Balance at December 31, 2020 $ 192,527 $ 205,452 $ 84,622 $ 31,678 $ 514,279 Adjustments to prior year acquisitions 9,951 — — 9,951 Foreign currency translation (989) — 205 — (784) Balance at March 31, 2021 $ 201,489 $ 205,452 $ 84,827 $ 31,678 $ 523,446
Schedule Of Acquired Intangible AssetsAcquired intangible assets consist of the following (in thousands): March 31, 2021 December 31, 2020 Gross Accumulated Gross Accumulated Indefinite-lived intangible assets: Trademarks $ 56,670 $ — $ 56,570 $ — Finite-lived intangible assets: Trademarks 5,831 3,574 5,818 3,385 Unpatented technology 38,892 18,479 38,752 17,765 Customer relationships 98,135 33,298 98,500 31,580 Non-compete agreements 4,888 1,913 4,885 1,747 Backlog 7,235 2,510 7,228 911 154,981 59,774 155,183 55,388 Total acquired intangible assets $ 211,651 $ 59,774 $ 211,753 $ 55,388
Schedule of Acquired Intangible Asset Amortization ExpenseThe following table summarizes the acquired intangible asset amortization expense for the three months ended March 31 (in thousands): Three Months Ended 2021 2020 Amortization expense $ 4,743 $ 1,984
Schedule Of Amortization ExpenseAmortization expense related to acquired intangible assets for the remainder of fiscal 2021 and the next five years thereafter is estimated as follows (in thousands): 2021 2022 2023 2024 2025 2026 Amortization expense $ 14,140 $ 12,120 $ 11,195 $ 11,014 $ 10,780 $ 8,700

Debt (Tables)

Debt (Tables)3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of DebtLong-term debt consists of the following (in thousands): March 31, 2021 December 31, 2020 Revolving credit facility $ 59,000 $ 85,000 Other debt — 636 Less unamortized debt issuance costs (977) — Total debt $ 58,023 $ 85,636

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)3 Months Ended
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule Of Components Of Accumulated Other Comprehensive LossThe following tables summarize the cumulative balance of each component of accumulated other comprehensive loss, net of tax, for the three months ended March 31, (in thousands): Foreign Currency Translation Adjustment Minimum post retirement benefit plan Total Pre-Tax Amount Tax (Benefit) Expense Accumulated Other Balance at December 31, 2020 $ (872) $ (2,426) $ (3,298) $ (837) $ (2,461) Minimum post retirement health care plan adjustments — 37 37 10 27 Foreign currency translation adjustment 3,198 — 3,198 — 3,198 Balance at March 31, 2021 $ 2,326 $ (2,389) $ (63) $ (827) $ 764 Foreign Currency Translation Adjustment Minimum post retirement benefit plan Total Pre-Tax Amount Tax (Benefit) Expense Accumulated Other Balance at December 31, 2019 $ (4,173) $ (1,939) $ (6,112) $ (721) $ (5,391) Minimum post retirement health care plan adjustments — 25 25 7 18 Foreign currency translation adjustment (5,898) — (5,898) — (5,898) Balance at March 31, 2020 $ (10,071) $ (1,914) $ (11,985) $ (714) $ (11,271)

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule Of Number Of Awards And Weighted Average Grant Date Fair ValueThe following table sets forth the number of equity-based awards granted during the three months ended March 31, which will convert to shares upon vesting, along with the weighted average grant date fair values: 2021 2020 Awards Number of Weighted Number of Weighted Performance stock units (1) 62,778 $ 87.84 123,870 $ 53.29 Restricted stock units 33,187 $ 87.91 42,101 $ 52.31 (1) The Company’s performance stock units (“PSUs”) represent shares granted for which the final number of shares earned depends on financial performance or market conditions. The number of shares to be issued may vary between 0% and 200% of the number of performance stock units granted depending on the relative achievement to targeted thresholds. The Company's PSUs with a financial performance condition are based on either the Company’s return on invested capital (“ROIC”) over a one-year performance period or revenue, gross profit and operating profit thresholds over a two
Management Stock Purchase PlanThe following table provides the number of restricted stock units credited to active participant accounts and the payments made with respect to restricted stock units issued under the MSPP during the three months ended March 31,: 2021 2020 Restricted stock units credited 24,085 52,411 Share-based liabilities paid (in thousands) $ 3,510 $ 4,433

Discontinued Operations (Tables

Discontinued Operations (Tables)3 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued OperationsThe following carrying amounts of the major classes of assets and liabilities included in discontinued operations related to the Industrial business has been segregated from the Company's continuing operations and are reported as assets and liabilities of discontinued operations, respectively, in the consolidated balance sheet at December 31, 2020 (in thousands): December 31, 2020 Assets Accounts receivable, net $ 11,261 Inventories, net 13,041 Prepaid expenses and other current assets 21,310 Total current assets (1) 45,612 Property, plant, and equipment, net 16,999 Operating lease assets 6,470 Goodwill 22,475 Acquired intangibles 15,482 Loss recognized on classification as held for sale (29,600) Total noncurrent assets (1) 31,826 Total assets classified as held for sale $ 77,438 Liabilities Accounts payable $ 10,708 Accrued expenses 9,274 Total current liabilities (1) 19,982 Deferred income taxes 24,657 Non-current operating lease liabilities 4,639 Other non-current liabilities 17 Total noncurrent liabilities (1) 29,313 Total liabilities classified as held for sale $ 49,295 (1) The assets and liabilities of the discontinued operations were classified as current on the December 31, 2020 consolidated balance sheet, as it was probable that the sale would occur and proceeds will be collected within one year. Components of income from discontinued operations before taxes, including the interest allocated to discontinued operations, for the three months ended March 31 are as follows (in thousands): 2021 2020 Net sales $ 20,391 $ 34,038 Operating expenses 17,493 31,202 Adjustment to loss on disposal 328 — Interest expense allocation — 6 Income from discontinued operations before taxes $ 2,570 $ 2,830

Exit Activity Costs and Asset_2

Exit Activity Costs and Asset Impairments (Tables)3 Months Ended
Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Summary Of Exit Activity Costs And Asset ImpairmentsThe following tables set forth the asset impairment charges and exit activity costs incurred by segment during the three months ended March 31, related to the restructuring activities described above (in thousands): Three months ended March 31, 2021 2020 Asset impairment charges Exit activity costs (recoveries), net Total Asset impairment charges Exit activity costs Total Renewables $ 1,193 $ 3,778 $ 4,971 $ — $ 18 $ 18 Residential — 65 65 — 221 221 Agtech — 204 204 — — — Infrastructure — — — — — — Corporate — — — — 54 54 Total exit activity costs & asset impairments $ 1,193 $ 4,047 $ 5,240 $ — $ 293 $ 293 The following table provides a summary of where the asset impairments and exit activity costs were recorded in the consolidated statements of income for the three months ended March 31, (in thousands): Three Months Ended 2021 2020 Cost of sales $ 5,047 $ 69 Selling, general, and administrative expense 193 224 Total asset impairment and exit activity charges $ 5,240 $ 293
Reconciliation Of Liability For Exit Activity Costs Relating To Facility Consolidation EffortsThe following table reconciles the beginning and ending liability for exit activity costs relating to the Company’s facility consolidation efforts (in thousands): 2021 2020 Balance at January 1 $ 1,030 $ 2,083 Exit activity costs recognized 4,047 293 Cash payments (1,464) (1,365) Balance at March 31 $ 3,613 $ 1,011

Income Taxes (Tables)

Income Taxes (Tables)3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
Summary Of Provision For Income Taxes For Continuing OperationsThe following table summarizes the provision for income taxes for continuing operations (in thousands) for the three months ended March 31, and the applicable effective tax rates: Three Months Ended 2021 2020 Provision for income taxes $ 1,560 $ 2,313 Effective tax rate 12.9 % 18.9 %

Earnings per Share (Tables)

Earnings per Share (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule Of Computation Of Basic And Diluted Loss Per ShareBasic earnings and weighted-average of diluted shares outstanding are as follows for the three months ended March 31, (in thousands): Three Months Ended 2021 2020 Numerator: Income from continuing operations $ 10,496 $ 9,902 Income from discontinued operations 2,266 2,157 Net income available to common stockholders $ 12,762 $ 12,059 Denominator for basic earnings per share: Weighted average shares outstanding 32,771 32,586 Denominator for diluted earnings per share: Weighted average shares outstanding 32,771 32,586 Common stock options and stock units 333 297 Weighted average shares and conversions 33,104 32,883

Segment Information (Tables)

Segment Information (Tables)3 Months Ended
Mar. 31, 2021
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Reconciliation Of Sales To Earnings Before Income Taxes by SegmentThe following table illustrates certain measurements used by management to assess performance of the segments described above for the three months ended March 31, (in thousands): Three Months Ended 2021 2020 Net sales: Renewables $ 85,512 $ 47,263 Residential 140,217 103,419 Agtech 46,739 49,234 Infrastructure 15,124 15,485 Total net sales $ 287,592 $ 215,401 Income from operations: Renewables $ (521) $ 4,359 Residential 22,934 13,725 Agtech 929 1,340 Infrastructure 2,037 1,576 Unallocated Corporate Expenses (12,564) (8,223) Total income from operations $ 12,815 $ 12,777 March 31, 2021 December 31, 2020 Total assets: Renewables $ 393,499 $ 402,796 Residential 427,894 407,132 Agtech 212,507 216,275 Infrastructure 82,833 80,796 Unallocated corporate assets 38,458 28,057 Assets of discontinued operations — 77,438 $ 1,155,191 $ 1,212,494
Disaggregation of RevenueThe following tables illustrate segment revenue disaggregated by timing of transfer of control to the customer for the three months ended March 31 (in thousands): Three Months Ended March 31, 2021 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time 6,971 139,019 5,143 5,470 $ 156,603 Over Time 78,541 1,198 41,596 9,654 130,989 Total net sales $ 85,512 $ 140,217 $ 46,739 $ 15,124 $ 287,592 Three Months Ended March 31, 2020 Renewables Residential Agtech Infrastructure Total Net sales: Point in Time $ 3,696 $ 102,331 $ 14,096 $ 5,457 $ 125,580 Over Time 43,567 1,088 35,138 10,028 89,821 Total net sales $ 47,263 $ 103,419 $ 49,234 $ 15,485 $ 215,401

Accounts Receivable and Allow_3

Accounts Receivable and Allowance for Doubtful Accounts - Schedule of Receivables (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Receivables [Abstract]
Trade accounts receivable $ 175,277 $ 174,604
Costs in excess of billings27,640 26,915
Total accounts receivables202,917 201,519
Less allowance for doubtful accounts and contract assets(3,319)(3,529)
Accounts receivable, net $ 199,598 $ 197,990

Accounts Receivable and Allow_4

Accounts Receivable and Allowance for Doubtful Accounts - Schedule of Accounts Receivable Allowance for Credit Losses (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance as of January 1, 2021 $ 3,529
Bad debt expense, net of recoveries(159)
Accounts written off against allowance and other adjustments(51)
Ending balance as of March 31, 2021 $ 3,319

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Unearned revenue $ 13.1 $ 21.3
Revenue recognized that was in contract liabilities at the beginning of the period $ 40.7 $ 38.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Remaining performance obligation expected timing of satisfaction1 year

Inventories (Details)

Inventories (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw material $ 73,364 $ 66,018
Work-in-process4,844 5,382
Finished goods32,757 31,205
Gross inventory110,965 102,605
Less reserves(3,961)(4,298)
Inventories, net $ 107,004 $ 98,307

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details)Dec. 11, 2020USD ($)Oct. 15, 2020USD ($)Feb. 13, 2020USD ($)Jan. 15, 2020USD ($)Mar. 31, 2021USD ($)Mar. 31, 2020USD ($)Dec. 31, 2020USD ($)business
Business Acquisition [Line Items]
Number of businesses acquired | business5
Goodwill $ 523,446,000 $ 514,279,000
Acquisition related costs900,000 $ 1,300,000
Cost of sales
Business Acquisition [Line Items]
Acquisition related costs0 $ 0
Renewables
Business Acquisition [Line Items]
Number of businesses acquired | business2
Goodwill201,489,000 $ 192,527,000
Agtech
Business Acquisition [Line Items]
Number of businesses acquired | business2
Goodwill84,827,000 $ 84,622,000
Residential
Business Acquisition [Line Items]
Number of businesses acquired | business1
Goodwill $ 205,452,000 $ 205,452,000
TerraSmart LLC
Business Acquisition [Line Items]
Acquisition purchase price223,700,000
Goodwill $ 153,690,000
Sunfig Corporation
Business Acquisition [Line Items]
Acquisition purchase price $ 3,800,000
Goodwill $ 3,200,000
Architectural Mailboxes, LLC
Business Acquisition [Line Items]
Acquisition purchase price $ 26,900,000
Goodwill $ 7,400,000
Delta Separations, LLC
Business Acquisition [Line Items]
Acquisition purchase price $ 47,100,000
Goodwill $ 32,200,000
Thermo Energy Systems
Business Acquisition [Line Items]
Acquisition purchase price $ 7,300,000
Goodwill $ 18,700,000

Acquisitions (Schedule of Alloc

Acquisitions (Schedule of Allocation of the Purchase Price Consideration of the Fair Value of Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020Jan. 15, 2020
Business Acquisition [Line Items]
Goodwill $ 523,446 $ 514,279
TerraSmart LLC
Business Acquisition [Line Items]
Cash1,491
Working capital7,158
Property, plant, and equipment9,396
Acquired intangible assets51,700
Other assets1,855
Other liabilities(1,636)
Goodwill153,690
Fair value of purchase consideration $ 223,654
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc.
Business Acquisition [Line Items]
Cash $ 200
Working capital(14,957)
Property, plant, and equipment1,740
Acquired intangible assets38,296
Other current assets1,528
Other assets2,381
Other liabilities(5,508)
Goodwill61,422
Fair value of purchase consideration $ 85,102

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021Dec. 31, 2020
Technology | Minimum
Business Acquisition [Line Items]
Weighted-Average Amortization Period7 years
Technology | Maximum
Business Acquisition [Line Items]
Weighted-Average Amortization Period15 years
Customer relationships | Minimum
Business Acquisition [Line Items]
Weighted-Average Amortization Period5 years
Customer relationships | Maximum
Business Acquisition [Line Items]
Weighted-Average Amortization Period13 years
Backlog
Business Acquisition [Line Items]
Weighted-Average Amortization Period1 year
TerraSmart LLC
Business Acquisition [Line Items]
Fair Value $ 51,700
TerraSmart LLC | Trademarks
Business Acquisition [Line Items]
Fair Value16,400
TerraSmart LLC | Trademarks
Business Acquisition [Line Items]
Fair Value $ 300
Weighted-Average Amortization Period7 years
TerraSmart LLC | Technology
Business Acquisition [Line Items]
Fair Value $ 2,500
Weighted-Average Amortization Period15 years
TerraSmart LLC | Customer relationships
Business Acquisition [Line Items]
Fair Value $ 24,000
Weighted-Average Amortization Period10 years
TerraSmart LLC | Non-compete agreements
Business Acquisition [Line Items]
Fair Value $ 2,200
Weighted-Average Amortization Period5 years
TerraSmart LLC | Backlog
Business Acquisition [Line Items]
Fair Value $ 6,300
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc.
Business Acquisition [Line Items]
Fair Value $ 38,296
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. | Trademarks
Business Acquisition [Line Items]
Fair Value8,200
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. | Trademarks
Business Acquisition [Line Items]
Fair Value $ 1,177
Weighted-Average Amortization Period3 years
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. | Technology
Business Acquisition [Line Items]
Fair Value $ 8,175
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. | Customer relationships
Business Acquisition [Line Items]
Fair Value18,780
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. | Non-compete agreements
Business Acquisition [Line Items]
Fair Value $ 1,036
Weighted-Average Amortization Period5 years
Sunfig Corporation, Architectural Mailboxes, LLC, Delta Separations, LLC, and Thermo Energy Systems Inc. | Backlog
Business Acquisition [Line Items]
Fair Value $ 928

Goodwill and Related Intangib_3

Goodwill and Related Intangible Assets (Schedule of Changes in Carrying Amount of Goodwill) (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2020 $ 514,279
Adjustments to prior year acquisitions9,951
Foreign currency translation(784)
Balance at March 31, 2021523,446
Renewables
Goodwill [Roll Forward]
Balance at December 31, 2020192,527
Adjustments to prior year acquisitions9,951
Foreign currency translation(989)
Balance at March 31, 2021201,489
Residential
Goodwill [Roll Forward]
Balance at December 31, 2020205,452
Adjustments to prior year acquisitions0
Foreign currency translation0
Balance at March 31, 2021205,452
Agtech
Goodwill [Roll Forward]
Balance at December 31, 202084,622
Adjustments to prior year acquisitions0
Foreign currency translation205
Balance at March 31, 202184,827
Infrastructure
Goodwill [Roll Forward]
Balance at December 31, 202031,678
Adjustments to prior year acquisitions
Foreign currency translation0
Balance at March 31, 2021 $ 31,678

Goodwill and Related Intangib_4

Goodwill and Related Intangible Assets (Schedule of Acquired Intangible Assets) (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets $ 154,981 $ 155,183
Total acquired intangible assets, Gross Carrying Amount211,651 211,753
Accumulated Amortization, Finite-lived intangible assets59,774 55,388
Total acquired intangible assets, Accumulated Amortization59,774 55,388
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets5,831 5,818
Accumulated Amortization, Finite-lived intangible assets3,574 3,385
Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets38,892 38,752
Accumulated Amortization, Finite-lived intangible assets18,479 17,765
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets98,135 98,500
Accumulated Amortization, Finite-lived intangible assets33,298 31,580
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets4,888 4,885
Accumulated Amortization, Finite-lived intangible assets1,913 1,747
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Finite-lived intangible assets7,235 7,228
Accumulated Amortization, Finite-lived intangible assets2,510 911
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount, Indefinite-lived intangible assets56,670 56,570
Accumulated Amortization, Indefinite-lived intangible assets $ 0 $ 0

Goodwill and Related Intangib_5

Goodwill and Related Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense $ 4,743 $ 1,984

Goodwill and Related Intangib_6

Goodwill and Related Intangible Assets (Schedule of Amortization Expense) (Details) $ in ThousandsMar. 31, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021 $ 14,140
202212,120
202311,195
202411,014
202510,780
2026 $ 8,700

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Debt Instrument [Line Items]
Less unamortized debt issuance costs $ (977) $ 0
Total debt58,023 85,636
Other Debt Obligations
Debt Instrument [Line Items]
Long term debt gross0 636
Line of Credit | 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Long term debt gross $ 59,000 $ 85,000

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)Jan. 24, 2019USD ($)Mar. 31, 2021USD ($)debtCovenantDec. 31, 2020USD ($)
Revolving Credit Facility | Senior Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility, availability amount $ 334,800,000 $ 309,200,000
Standby Letters of Credit | Senior Credit Agreement
Debt Instrument [Line Items]
Letters of credit issued $ 6,200,000
Line of Credit | 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Current borrowing capacity $ 400,000,000
Letters of credit issued $ 700,000,000
Number of debt covenants | debtCovenant3
Line of Credit | 2019 Senior Credit Agreement | Minimum
Debt Instrument [Line Items]
Revolving credit facility, undrawn commitment fee0.15%
Line of Credit | 2019 Senior Credit Agreement | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Revolfing credit facility, interest rates margin1.125%
Line of Credit | 2019 Senior Credit Agreement | Maximum
Debt Instrument [Line Items]
Revolving credit facility, undrawn commitment fee0.25%
Line of Credit | 2019 Senior Credit Agreement | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Revolfing credit facility, interest rates margin2.00%
Medium-term Notes | 2019 Senior Credit Agreement
Debt Instrument [Line Items]
Debt instrument, issued value $ 300,000,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance $ (3,298) $ (6,112)
Accumulated other comprehensive income, tax, beginning balance(837)(721)
Accumulated other comprehensive income, beginning balance(2,461)(5,391)
Adjustment to pension benefit liability, taxes10 7
Other comprehensive income (loss), net of tax3,225 (5,880)
AOCI before tax, ending balance(63)(11,985)
Accumulated other comprehensive income, tax, ending balance(827)(714)
Accumulated other comprehensive income, ending balance764 (11,271)
Accumulated Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance(872)(4,173)
Other comprehensive income adjustments3,198 (5,898)
Other comprehensive income (loss), net of tax3,198 (5,898)
AOCI before tax, ending balance2,326 (10,071)
Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income adjustments37 25
Other comprehensive income (loss), net of tax27 18
Minimum post retirement benefit plan adjustments | Accumulated Defined Benefit Plans Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
AOCI before tax, beginning balance(2,426)(1,939)
Other comprehensive income adjustments37 25
AOCI before tax, ending balance $ (2,389) $ (1,914)

Equity-Based Compensation - Inc

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

Equity-Based Compensation (Sche

Equity-Based Compensation (Schedule of Number of Awards and Weighted Average Grant Date Fair Value) (Details) - $ / shares3 Months Ended
Mar. 31, 2022Mar. 31, 2021Mar. 31, 2020
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards (in shares)62,778 123,870
Weighted average grant date fair value (in USD per share) $ 87.84 $ 53.29
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of awards (in shares)33,187 42,101
Weighted average grant date fair value (in USD per share) $ 87.91 $ 52.31
2018 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares to be issued on conversion as percentage of total award109.50%
2018 Plan | Scenario, Forecast | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares to be issued on conversion (in shares)72,239
Minimum | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants based on targeted thresholds, percent0.00%
Maximum | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants based on targeted thresholds, percent200.00%
Return on Invested Capital | 2018 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period1 year
Gross Profit Threshold | Minimum | 2018 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period2 years
Gross Profit Threshold | Maximum | 2018 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period3 years
Total Shareholder Return | 2018 Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period3 years

Equity-Based Compensation (Equi

Equity-Based Compensation (Equity Based Awards - Settled in Cash) (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation $ 19,300,000 $ 18,200,000
Non Current Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accrued equity based compensation16,400,000 $ 14,700,000
Management Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based liabilities paid (in thousands) $ 3,510,000 $ 4,433,000
Management Stock Purchase Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average company stock price measurement period200 days
Restricted stock units credited (in shares) $ 24,085 $ 52,411

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - Discontinued Operations, Disposed of by Sale - Industrial Business Segment - USD ($) $ in MillionsFeb. 22, 2021Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net proceeds $ 38
Net proceeds, seller note13
Estimated pre-tax loss $ 30
Adjustment to loss on disposal $ 29.6

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Assets
Total current assets $ 0 $ 77,438
Liabilities
Total current liabilities0 49,295
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Income from discontinued operations before taxes2,570 $ 2,830
Industrial Business Segment
Assets
Total assets classified as held for sale77,438
Liabilities
Total liabilities classified as held for sale49,295
Discontinued Operations, Held-for-sale | Industrial Business Segment
Assets
Accounts receivable, net11,261
Inventories, net13,041
Prepaid expenses and other current assets21,310
Total current assets45,612
Property, plant, and equipment, net16,999
Operating lease assets6,470
Goodwill22,475
Acquired intangibles15,482
Loss recognized on classification as held for sale(29,600)
Total noncurrent assets31,826
Liabilities
Accounts payable10,708
Accrued expenses9,274
Total current liabilities19,982
Deferred income taxes24,657
Non-current operating lease liabilities4,639
Other non-current liabilities17
Total noncurrent liabilities $ 29,313
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Net sales20,391 34,038
Operating expenses17,493 31,202
Adjustment to loss on disposal328 0
Interest expense allocation0 6
Income from discontinued operations before taxes $ 2,570 $ 2,830

Exit Activity Costs and Asset_3

Exit Activity Costs and Asset Impairments (Narrative) (Details) - facility3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Number of facilities closed2 0

Exit Activity Costs and Asset_4

Exit Activity Costs and Asset Impairments (Summary of Exit Activity Costs and Asset Impairments by Segment) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Asset impairment charges $ 1,193 $ 0
Exit activity costs (recoveries), net4,047 293
Total5,240 293
Renewables
Restructuring Cost and Reserve [Line Items]
Asset impairment charges1,193 0
Exit activity costs (recoveries), net3,778 18
Total4,971 18
Residential
Restructuring Cost and Reserve [Line Items]
Asset impairment charges0 0
Exit activity costs (recoveries), net65 221
Total65 221
Agtech
Restructuring Cost and Reserve [Line Items]
Asset impairment charges0 0
Exit activity costs (recoveries), net204 0
Total204 0
Infrastructure
Restructuring Cost and Reserve [Line Items]
Asset impairment charges0 0
Exit activity costs (recoveries), net0 0
Total0 0
Corporate
Restructuring Cost and Reserve [Line Items]
Asset impairment charges0 0
Exit activity costs (recoveries), net0 54
Total $ 0 $ 54

Exit Activity Costs and Asset_5

Exit Activity Costs and Asset Impairments (Summary of Exit Activity Costs and Asset Impairments) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Total $ 5,240 $ 293
Exit activity costs (recoveries), net4,047 293
Cost of sales
Restructuring Cost and Reserve [Line Items]
Total5,047 69
Selling, general, and administrative expense
Restructuring Cost and Reserve [Line Items]
Total $ 193 $ 224

Exit Activity Costs and Asset_6

Exit Activity Costs and Asset Impairments (Reconciles of Liability for Exit Activity Costs Relating to Facility Consolidation Efforts) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Restructuring Reserve [Roll Forward]
Beginning balance $ 1,030 $ 2,083
Exit activity costs (recoveries), net4,047 293
Cash payments(1,464)(1,365)
Ending balance $ 3,613 $ 1,011

Income Taxes (Provision For Inc

Income Taxes (Provision For Income Taxes For Continuing Operations) (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes $ 1,560 $ 2,313
Effective tax rate12.90%18.90%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Tax Disclosure [Abstract]
Federal statutory income tax rate21.00%21.00%

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Income from continuing operations $ 10,496 $ 9,902
Income from discontinued operations2,266 2,157
Net income available to common stockholders $ 12,762 $ 12,059
Weighted average basic shares outstanding (in shares)32,771,000 32,586,000
Common stock options and restricted stock (in shares)333,000 297,000
Weighted average shares outstanding, diluted (in shares)33,104,000 32,883,000
Common shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share calculation (in shares)0 18,000

Segment Information (Details)

Segment Information (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)segmentMar. 31, 2020USD ($)Dec. 31, 2020USD ($)
Segment Reporting, Other Significant Reconciling Item [Line Items]
Number of reportable segments | segment4
Net Sales $ 287,592 $ 215,401
Total consolidated income from operations12,815 12,777
Total assets1,155,191 $ 1,212,494
Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales85,512 47,263
Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales140,217 103,419
Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales46,739 49,234
Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales15,124 15,485
Operating Segments | Discontinued Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total assets0 77,438
Operating Segments | Renewables
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales85,512 47,263
Total consolidated income from operations(521)4,359
Total assets393,499 402,796
Operating Segments | Residential
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales140,217 103,419
Total consolidated income from operations22,934 13,725
Total assets427,894 407,132
Operating Segments | Agtech
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales46,739 49,234
Total consolidated income from operations929 1,340
Total assets212,507 216,275
Operating Segments | Infrastructure
Segment Reporting, Other Significant Reconciling Item [Line Items]
Net Sales15,124 15,485
Total consolidated income from operations2,037 1,576
Total assets82,833 80,796
Corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total consolidated income from operations(12,564) $ (8,223)
Total assets $ 38,458 $ 28,057

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Net Sales $ 287,592 $ 215,401
Renewables
Disaggregation of Revenue [Line Items]
Net Sales85,512 47,263
Residential
Disaggregation of Revenue [Line Items]
Net Sales140,217 103,419
Agtech
Disaggregation of Revenue [Line Items]
Net Sales46,739 49,234
Infrastructure
Disaggregation of Revenue [Line Items]
Net Sales15,124 15,485
Point in Time
Disaggregation of Revenue [Line Items]
Net Sales156,603 125,580
Point in Time | Renewables
Disaggregation of Revenue [Line Items]
Net Sales6,971 3,696
Point in Time | Residential
Disaggregation of Revenue [Line Items]
Net Sales139,019 102,331
Point in Time | Agtech
Disaggregation of Revenue [Line Items]
Net Sales5,143 14,096
Point in Time | Infrastructure
Disaggregation of Revenue [Line Items]
Net Sales5,470 5,457
Over Time
Disaggregation of Revenue [Line Items]
Net Sales130,989 89,821
Over Time | Renewables
Disaggregation of Revenue [Line Items]
Net Sales78,541 43,567
Over Time | Residential
Disaggregation of Revenue [Line Items]
Net Sales1,198 1,088
Over Time | Agtech
Disaggregation of Revenue [Line Items]
Net Sales41,596 35,138
Over Time | Infrastructure
Disaggregation of Revenue [Line Items]
Net Sales $ 9,654 $ 10,028