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Under our Executive Long-Term Incentive Compensation Plan (Executive Plan), share-based awards may be issued to key employees through a broad range of methods, including non-qualified and incentive stock options, performance shares, performance units, restricted stock, restricted stock units, stock appreciation rights and other awards. There are 0.7 million shares of ALLETE common stock reserved for issuance under the Executive Plan, of which 0.5 million of these shares remain available for issuance as of December 31, 2024. | text | 0.5 | sharesItemType | text: <entity> 0.5 </entity> <entity type> sharesItemType </entity type> <context> Under our Executive Long-Term Incentive Compensation Plan (Executive Plan), share-based awards may be issued to key employees through a broad range of methods, including non-qualified and incentive stock options, performance shares, performance units, restricted stock, restricted stock units, stock appreciation rights and other awards. There are 0.7 million shares of ALLETE common stock reserved for issuance under the Executive Plan, of which 0.5 million of these shares remain available for issuance as of December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant |
Under our ESPP, eligible employees may purchase ALLETE common stock at a 5 percent discount from the market price; we are not required to apply fair value accounting to these awards as the discount is not greater than 5 percent. | text | 5 | percentItemType | text: <entity> 5 </entity> <entity type> percentItemType </entity type> <context> Under our ESPP, eligible employees may purchase ALLETE common stock at a 5 percent discount from the market price; we are not required to apply fair value accounting to these awards as the discount is not greater than 5 percent. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPricePurchaseDate |
As of December 31, 2024, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our Consolidated Statement of Income was $ 3.3 million and $ 1.1 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.7 years and 1.8 years, respectively. | text | 3.3 | monetaryItemType | text: <entity> 3.3 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our Consolidated Statement of Income was $ 3.3 million and $ 1.1 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.7 years and 1.8 years, respectively. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
As of December 31, 2024, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our Consolidated Statement of Income was $ 3.3 million and $ 1.1 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.7 years and 1.8 years, respectively. | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, the total unrecognized compensation cost for the performance share awards and restricted stock units not yet recognized in our Consolidated Statement of Income was $ 3.3 million and $ 1.1 million, respectively. These amounts are expected to be recognized over a weighted-average period of 1.7 years and 1.8 years, respectively. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
There were approximately 65,300 performance shares granted in January 2025 for the three -year performance period ending in 2027. The ultimate issuance is contingent upon the attainment of certain goals of ALLETE during the performance periods. The grant date fair value of the performance shares granted was $ 4.6 million. There were approximately 14,200 performance shares awarded in February 2025. The grant date fair value of the shares awarded was $ 1.0 million. | text | 65300 | sharesItemType | text: <entity> 65300 </entity> <entity type> sharesItemType </entity type> <context> There were approximately 65,300 performance shares granted in January 2025 for the three -year performance period ending in 2027. The ultimate issuance is contingent upon the attainment of certain goals of ALLETE during the performance periods. The grant date fair value of the performance shares granted was $ 4.6 million. There were approximately 14,200 performance shares awarded in February 2025. The grant date fair value of the shares awarded was $ 1.0 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
There were approximately 65,300 performance shares granted in January 2025 for the three -year performance period ending in 2027. The ultimate issuance is contingent upon the attainment of certain goals of ALLETE during the performance periods. The grant date fair value of the performance shares granted was $ 4.6 million. There were approximately 14,200 performance shares awarded in February 2025. The grant date fair value of the shares awarded was $ 1.0 million. | text | 14200 | sharesItemType | text: <entity> 14200 </entity> <entity type> sharesItemType </entity type> <context> There were approximately 65,300 performance shares granted in January 2025 for the three -year performance period ending in 2027. The ultimate issuance is contingent upon the attainment of certain goals of ALLETE during the performance periods. The grant date fair value of the performance shares granted was $ 4.6 million. There were approximately 14,200 performance shares awarded in February 2025. The grant date fair value of the shares awarded was $ 1.0 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
There were approximately 65,300 performance shares granted in January 2025 for the three -year performance period ending in 2027. The ultimate issuance is contingent upon the attainment of certain goals of ALLETE during the performance periods. The grant date fair value of the performance shares granted was $ 4.6 million. There were approximately 14,200 performance shares awarded in February 2025. The grant date fair value of the shares awarded was $ 1.0 million. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> There were approximately 65,300 performance shares granted in January 2025 for the three -year performance period ending in 2027. The ultimate issuance is contingent upon the attainment of certain goals of ALLETE during the performance periods. The grant date fair value of the performance shares granted was $ 4.6 million. There were approximately 14,200 performance shares awarded in February 2025. The grant date fair value of the shares awarded was $ 1.0 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
There were approximately 25,900 restricted stock units granted in January 2025 for the vesting period ending in 2027. The grant date fair value of the restricted stock units granted was $ 1.7 million. There were approximately 12,300 restricted stock units awarded in February 2025. The grant date fair value of the shares awarded was $ 0.8 million. | text | 25900 | sharesItemType | text: <entity> 25900 </entity> <entity type> sharesItemType </entity type> <context> There were approximately 25,900 restricted stock units granted in January 2025 for the vesting period ending in 2027. The grant date fair value of the restricted stock units granted was $ 1.7 million. There were approximately 12,300 restricted stock units awarded in February 2025. The grant date fair value of the shares awarded was $ 0.8 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
There were approximately 25,900 restricted stock units granted in January 2025 for the vesting period ending in 2027. The grant date fair value of the restricted stock units granted was $ 1.7 million. There were approximately 12,300 restricted stock units awarded in February 2025. The grant date fair value of the shares awarded was $ 0.8 million. | text | 12300 | sharesItemType | text: <entity> 12300 </entity> <entity type> sharesItemType </entity type> <context> There were approximately 25,900 restricted stock units granted in January 2025 for the vesting period ending in 2027. The grant date fair value of the restricted stock units granted was $ 1.7 million. There were approximately 12,300 restricted stock units awarded in February 2025. The grant date fair value of the shares awarded was $ 0.8 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod |
There were approximately 25,900 restricted stock units granted in January 2025 for the vesting period ending in 2027. The grant date fair value of the restricted stock units granted was $ 1.7 million. There were approximately 12,300 restricted stock units awarded in February 2025. The grant date fair value of the shares awarded was $ 0.8 million. | text | 0.8 | monetaryItemType | text: <entity> 0.8 </entity> <entity type> monetaryItemType </entity type> <context> There were approximately 25,900 restricted stock units granted in January 2025 for the vesting period ending in 2027. The grant date fair value of the restricted stock units granted was $ 1.7 million. There were approximately 12,300 restricted stock units awarded in February 2025. The grant date fair value of the shares awarded was $ 0.8 million. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
Regulated Operations includes three operating segments which consist of our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC. ALLETE Clean Energy is our business focused on developing, acquiring and operating clean and renewable energy projects. We also present Corporate and Other which includes three operating segments, New Energy, a renewable energy development company, BNI Energy, our coal mining operations in North Dakota, and ALLETE Properties, our legacy Florida real estate investment, along with our investment in Nobles 2, South Shore Energy, our non-rate regulated, Wisconsin subsidiary developing NTEC, other business development and corporate expenditures, unallocated interest expense, a small amount of non-rate base generation, land holdings in Minnesota, and earnings on cash and investments. | text | three | integerItemType | text: <entity> three </entity> <entity type> integerItemType </entity type> <context> Regulated Operations includes three operating segments which consist of our regulated utilities, Minnesota Power and SWL&P, as well as our investment in ATC. ALLETE Clean Energy is our business focused on developing, acquiring and operating clean and renewable energy projects. We also present Corporate and Other which includes three operating segments, New Energy, a renewable energy development company, BNI Energy, our coal mining operations in North Dakota, and ALLETE Properties, our legacy Florida real estate investment, along with our investment in Nobles 2, South Shore Energy, our non-rate regulated, Wisconsin subsidiary developing NTEC, other business development and corporate expenditures, unallocated interest expense, a small amount of non-rate base generation, land holdings in Minnesota, and earnings on cash and investments. </context> | us-gaap:NumberOfOperatingSegments |
(d) Net Income in 2022 includes a $ 8.3 million after-tax expense as a result of purchase price accounting related to projects under development at the time of acquisition and $ 2.7 million after-tax of transaction costs related to the acquisition of New Energy. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> (d) Net Income in 2022 includes a $ 8.3 million after-tax expense as a result of purchase price accounting related to projects under development at the time of acquisition and $ 2.7 million after-tax of transaction costs related to the acquisition of New Energy. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
(e) Net income in 2024 includes transaction expenses of $ 22.6 million after-tax related to the Merger. (See Note 15. Agreement and Plan of Merger.) | text | 22.6 | monetaryItemType | text: <entity> 22.6 </entity> <entity type> monetaryItemType </entity type> <context> (e) Net income in 2024 includes transaction expenses of $ 22.6 million after-tax related to the Merger. (See Note 15. Agreement and Plan of Merger.) </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
Subject to the terms and conditions set forth in the Merger Agreement, which has been unanimously approved by the board of directors of ALLETE and approved and adopted by the shareholders of ALLETE, at the effective time of the Merger (Effective Time), each share of common stock, without par value, of ALLETE (ALLETE common stock) issued and outstanding immediately prior to the Effective Time (other than shares of ALLETE common stock held by any holder who properly exercises dissenters’ rights under Minnesota law in respect of such shares and any shares of ALLETE common stock held by an affiliate of Alloy Parent) shall be converted into the right to receive $ 67.00 in cash, without interest (Merger Consideration). The aggregate equity value of the ALLETE common stock acquired by Parent will be approximately $ 3.9 billion as calculated as of May 5, 2024. | text | 67.00 | perShareItemType | text: <entity> 67.00 </entity> <entity type> perShareItemType </entity type> <context> Subject to the terms and conditions set forth in the Merger Agreement, which has been unanimously approved by the board of directors of ALLETE and approved and adopted by the shareholders of ALLETE, at the effective time of the Merger (Effective Time), each share of common stock, without par value, of ALLETE (ALLETE common stock) issued and outstanding immediately prior to the Effective Time (other than shares of ALLETE common stock held by any holder who properly exercises dissenters’ rights under Minnesota law in respect of such shares and any shares of ALLETE common stock held by an affiliate of Alloy Parent) shall be converted into the right to receive $ 67.00 in cash, without interest (Merger Consideration). The aggregate equity value of the ALLETE common stock acquired by Parent will be approximately $ 3.9 billion as calculated as of May 5, 2024. </context> | us-gaap:BusinessAcquisitionSharePrice |
Subject to the terms and conditions set forth in the Merger Agreement, which has been unanimously approved by the board of directors of ALLETE and approved and adopted by the shareholders of ALLETE, at the effective time of the Merger (Effective Time), each share of common stock, without par value, of ALLETE (ALLETE common stock) issued and outstanding immediately prior to the Effective Time (other than shares of ALLETE common stock held by any holder who properly exercises dissenters’ rights under Minnesota law in respect of such shares and any shares of ALLETE common stock held by an affiliate of Alloy Parent) shall be converted into the right to receive $ 67.00 in cash, without interest (Merger Consideration). The aggregate equity value of the ALLETE common stock acquired by Parent will be approximately $ 3.9 billion as calculated as of May 5, 2024. | text | 3.9 | monetaryItemType | text: <entity> 3.9 </entity> <entity type> monetaryItemType </entity type> <context> Subject to the terms and conditions set forth in the Merger Agreement, which has been unanimously approved by the board of directors of ALLETE and approved and adopted by the shareholders of ALLETE, at the effective time of the Merger (Effective Time), each share of common stock, without par value, of ALLETE (ALLETE common stock) issued and outstanding immediately prior to the Effective Time (other than shares of ALLETE common stock held by any holder who properly exercises dissenters’ rights under Minnesota law in respect of such shares and any shares of ALLETE common stock held by an affiliate of Alloy Parent) shall be converted into the right to receive $ 67.00 in cash, without interest (Merger Consideration). The aggregate equity value of the ALLETE common stock acquired by Parent will be approximately $ 3.9 billion as calculated as of May 5, 2024. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
The Merger Agreement contains certain termination rights for ALLETE and Alloy Parent, which were described in a Current Report of Form 8-K filed by ALLETE on May 6, 2024. In the Merger Agreement, among other things, ALLETE has agreed, subject to certain exceptions, to, and to cause each of its subsidiaries to conduct its business in the ordinary course, consistent with past practice, from the date of the Merger Agreement until the Effective Time, and not to take certain actions prior to the closing of the Merger without the prior written consent of Alloy Parent (which consent shall not be unreasonably withheld, conditioned or delayed, except where ALLETE seeks Alloy Parent’s consent to enter into a material new line of business or cease operations of an existing material line of business). The Merger Agreement also provides that ALLETE may notify Alloy Parent of our intent to raise equity capital of up to a total of $ 300 million in the second half of 2025, subject to certain parameters. If Alloy Parent declines to participate in the equity capital raises or fails to provide timely notice with respect thereto, ALLETE will have the right to issue ALLETE common stock in the public markets for an amount equal to any unfunded amounts under such equity capital raises. | text | 300 | monetaryItemType | text: <entity> 300 </entity> <entity type> monetaryItemType </entity type> <context> The Merger Agreement contains certain termination rights for ALLETE and Alloy Parent, which were described in a Current Report of Form 8-K filed by ALLETE on May 6, 2024. In the Merger Agreement, among other things, ALLETE has agreed, subject to certain exceptions, to, and to cause each of its subsidiaries to conduct its business in the ordinary course, consistent with past practice, from the date of the Merger Agreement until the Effective Time, and not to take certain actions prior to the closing of the Merger without the prior written consent of Alloy Parent (which consent shall not be unreasonably withheld, conditioned or delayed, except where ALLETE seeks Alloy Parent’s consent to enter into a material new line of business or cease operations of an existing material line of business). The Merger Agreement also provides that ALLETE may notify Alloy Parent of our intent to raise equity capital of up to a total of $ 300 million in the second half of 2025, subject to certain parameters. If Alloy Parent declines to participate in the equity capital raises or fails to provide timely notice with respect thereto, ALLETE will have the right to issue ALLETE common stock in the public markets for an amount equal to any unfunded amounts under such equity capital raises. </context> | us-gaap:BusinessCombinationContingentConsiderationAsset |
These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company is an early-stage growth company and has generated negative cash flows from operating activities since inception. At December 31, 2024, the Company had total equity of $ 244.4 million, inclusive of cash and cash equivalents of $ 9.2 million and total investments of $ 210.5 million. Based on this, the Company has sufficient funds to continue to execute its business strategy for the next twelve months from the issuance date of the financial statements included in this Annual Report on Form 10-K. | text | 244.4 | monetaryItemType | text: <entity> 244.4 </entity> <entity type> monetaryItemType </entity type> <context> These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company is an early-stage growth company and has generated negative cash flows from operating activities since inception. At December 31, 2024, the Company had total equity of $ 244.4 million, inclusive of cash and cash equivalents of $ 9.2 million and total investments of $ 210.5 million. Based on this, the Company has sufficient funds to continue to execute its business strategy for the next twelve months from the issuance date of the financial statements included in this Annual Report on Form 10-K. </context> | us-gaap:StockholdersEquity |
These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company is an early-stage growth company and has generated negative cash flows from operating activities since inception. At December 31, 2024, the Company had total equity of $ 244.4 million, inclusive of cash and cash equivalents of $ 9.2 million and total investments of $ 210.5 million. Based on this, the Company has sufficient funds to continue to execute its business strategy for the next twelve months from the issuance date of the financial statements included in this Annual Report on Form 10-K. | text | 9.2 | monetaryItemType | text: <entity> 9.2 </entity> <entity type> monetaryItemType </entity type> <context> These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company is an early-stage growth company and has generated negative cash flows from operating activities since inception. At December 31, 2024, the Company had total equity of $ 244.4 million, inclusive of cash and cash equivalents of $ 9.2 million and total investments of $ 210.5 million. Based on this, the Company has sufficient funds to continue to execute its business strategy for the next twelve months from the issuance date of the financial statements included in this Annual Report on Form 10-K. </context> | us-gaap:CashEquivalentsAtCarryingValue |
These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company is an early-stage growth company and has generated negative cash flows from operating activities since inception. At December 31, 2024, the Company had total equity of $ 244.4 million, inclusive of cash and cash equivalents of $ 9.2 million and total investments of $ 210.5 million. Based on this, the Company has sufficient funds to continue to execute its business strategy for the next twelve months from the issuance date of the financial statements included in this Annual Report on Form 10-K. | text | 210.5 | monetaryItemType | text: <entity> 210.5 </entity> <entity type> monetaryItemType </entity type> <context> These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business. The Company is an early-stage growth company and has generated negative cash flows from operating activities since inception. At December 31, 2024, the Company had total equity of $ 244.4 million, inclusive of cash and cash equivalents of $ 9.2 million and total investments of $ 210.5 million. Based on this, the Company has sufficient funds to continue to execute its business strategy for the next twelve months from the issuance date of the financial statements included in this Annual Report on Form 10-K. </context> | us-gaap:Investments |
Total charges and expenses related to the Plan of $ 3.0 million and $ 11.5 million for the | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> Total charges and expenses related to the Plan of $ 3.0 million and $ 11.5 million for the </context> | us-gaap:RestructuringAndRelatedCostIncurredCost |
Total charges and expenses related to the Plan of $ 3.0 million and $ 11.5 million for the | text | 11.5 | monetaryItemType | text: <entity> 11.5 </entity> <entity type> monetaryItemType </entity type> <context> Total charges and expenses related to the Plan of $ 3.0 million and $ 11.5 million for the </context> | us-gaap:RestructuringAndRelatedCostIncurredCost |
and nil consisting of property and equipment in connection with the Plan at their fair value less costs to sell at December 31, 2024 and 2023, respectively. We used fair value hierarchy Level III inputs including comparable assets, adjusted for condition, and recorded charges of | text | nil | monetaryItemType | text: <entity> nil </entity> <entity type> monetaryItemType </entity type> <context> and nil consisting of property and equipment in connection with the Plan at their fair value less costs to sell at December 31, 2024 and 2023, respectively. We used fair value hierarchy Level III inputs including comparable assets, adjusted for condition, and recorded charges of </context> | us-gaap:AssetsHeldForSaleNotPartOfDisposalGroup |
and nil included in exit and termination costs in the consolidated statements of operations f | text | nil | monetaryItemType | text: <entity> nil </entity> <entity type> monetaryItemType </entity type> <context> and nil included in exit and termination costs in the consolidated statements of operations f </context> | us-gaap:ImpairmentOfLongLivedAssetsToBeDisposedOf |
We recorded net benefits for recoveries related to asset sales of $ 2.8 million and nil included in exit and termination costs in the consolidated statements of operations | text | 2.8 | monetaryItemType | text: <entity> 2.8 </entity> <entity type> monetaryItemType </entity type> <context> We recorded net benefits for recoveries related to asset sales of $ 2.8 million and nil included in exit and termination costs in the consolidated statements of operations </context> | us-gaap:GainLossOnDispositionOfAssets1 |
We recorded net benefits for recoveries related to asset sales of $ 2.8 million and nil included in exit and termination costs in the consolidated statements of operations | text | nil | monetaryItemType | text: <entity> nil </entity> <entity type> monetaryItemType </entity type> <context> We recorded net benefits for recoveries related to asset sales of $ 2.8 million and nil included in exit and termination costs in the consolidated statements of operations </context> | us-gaap:GainLossOnDispositionOfAssets1 |
The Company provided a supplier with a letter of credit for $ 7.9 million in the fourth quarter of 2023 to secure the performance of the Company, backed by a restricted cash deposit to pay any draws on the letter of credit by the supplier. The Company was released from this letter of credit in the first quarter of 2024. | text | 7.9 | monetaryItemType | text: <entity> 7.9 </entity> <entity type> monetaryItemType </entity type> <context> The Company provided a supplier with a letter of credit for $ 7.9 million in the fourth quarter of 2023 to secure the performance of the Company, backed by a restricted cash deposit to pay any draws on the letter of credit by the supplier. The Company was released from this letter of credit in the first quarter of 2024. </context> | us-gaap:LettersOfCreditOutstandingAmount |
The Company has provided its corporate headquarters lessor with a letter of credit for $ 0.7 million to secure the performance of the Company’s lease obligations, backed by a restricted cash deposit to pay any draws on the letter of credit by the lessor. | text | 0.7 | monetaryItemType | text: <entity> 0.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company has provided its corporate headquarters lessor with a letter of credit for $ 0.7 million to secure the performance of the Company’s lease obligations, backed by a restricted cash deposit to pay any draws on the letter of credit by the lessor. </context> | us-gaap:LettersOfCreditOutstandingAmount |
Accounts receivable are stated at a gross invoice amount, net of an allowance for doubtful accounts. The allowance for doubtful accounts is maintained at a level considered adequate to provide for potential account losses on the balance based on the Company’s evaluation of the anticipated impact of current economic conditions, changes in the character and size of the balance, past and expected future loss experience and other pertinent factors. At December 31, 2024 and 2023, accounts receivable included amounts receivable from customers of $ 1.5 million and nil , respectively. At December 31, 2024 and 2023 there was no allowance for doubtful accounts on customer receivables. | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> Accounts receivable are stated at a gross invoice amount, net of an allowance for doubtful accounts. The allowance for doubtful accounts is maintained at a level considered adequate to provide for potential account losses on the balance based on the Company’s evaluation of the anticipated impact of current economic conditions, changes in the character and size of the balance, past and expected future loss experience and other pertinent factors. At December 31, 2024 and 2023, accounts receivable included amounts receivable from customers of $ 1.5 million and nil , respectively. At December 31, 2024 and 2023 there was no allowance for doubtful accounts on customer receivables. </context> | us-gaap:AccountsReceivableGross |
Accounts receivable are stated at a gross invoice amount, net of an allowance for doubtful accounts. The allowance for doubtful accounts is maintained at a level considered adequate to provide for potential account losses on the balance based on the Company’s evaluation of the anticipated impact of current economic conditions, changes in the character and size of the balance, past and expected future loss experience and other pertinent factors. At December 31, 2024 and 2023, accounts receivable included amounts receivable from customers of $ 1.5 million and nil , respectively. At December 31, 2024 and 2023 there was no allowance for doubtful accounts on customer receivables. | text | nil | monetaryItemType | text: <entity> nil </entity> <entity type> monetaryItemType </entity type> <context> Accounts receivable are stated at a gross invoice amount, net of an allowance for doubtful accounts. The allowance for doubtful accounts is maintained at a level considered adequate to provide for potential account losses on the balance based on the Company’s evaluation of the anticipated impact of current economic conditions, changes in the character and size of the balance, past and expected future loss experience and other pertinent factors. At December 31, 2024 and 2023, accounts receivable included amounts receivable from customers of $ 1.5 million and nil , respectively. At December 31, 2024 and 2023 there was no allowance for doubtful accounts on customer receivables. </context> | us-gaap:AccountsReceivableGross |
The Company was performing under two contracts as both a prime and subcontractor to the United States government to provide R&D services. The larger of these two contracts was modified and accounted for as a new contract in the quarter ending December 31, 2024. These contracts were not accounted for as revenue prior to September 30, 2024 as they were not in the ordinary course of business and the counterparties were not customers under GAAP. In September 2024, the Company was awarded a best effort cost-plus-fixed fee contract up to $ 16.0 million by the United States Department of the Navy’s Office of Naval Research (“ONR”) to research the suitability of its KARNO generator for Navy ships and stationary power applications. Under the agreement, the Company will provide R&D services through September 2026, including delivery of up to seven KARNO generators. The ONR contract represented a significant change in business strategy toward providing R&D activities in the ordinary course of business in addition to developing power generators for stationary and mobile applications. The Company now accounts for all three contracts under ASC 606 beginning in the quarter ending December 31, 2024. The remaining amounts of revenue that we may recognize under these contracts was up to $ 15.7 million as of December 31, 2024, which is expected to be recognized in 2025 and 2026. | text | 16.0 | monetaryItemType | text: <entity> 16.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company was performing under two contracts as both a prime and subcontractor to the United States government to provide R&D services. The larger of these two contracts was modified and accounted for as a new contract in the quarter ending December 31, 2024. These contracts were not accounted for as revenue prior to September 30, 2024 as they were not in the ordinary course of business and the counterparties were not customers under GAAP. In September 2024, the Company was awarded a best effort cost-plus-fixed fee contract up to $ 16.0 million by the United States Department of the Navy’s Office of Naval Research (“ONR”) to research the suitability of its KARNO generator for Navy ships and stationary power applications. Under the agreement, the Company will provide R&D services through September 2026, including delivery of up to seven KARNO generators. The ONR contract represented a significant change in business strategy toward providing R&D activities in the ordinary course of business in addition to developing power generators for stationary and mobile applications. The Company now accounts for all three contracts under ASC 606 beginning in the quarter ending December 31, 2024. The remaining amounts of revenue that we may recognize under these contracts was up to $ 15.7 million as of December 31, 2024, which is expected to be recognized in 2025 and 2026. </context> | us-gaap:GovernmentAssistanceAwardAmount |
The Company was performing under two contracts as both a prime and subcontractor to the United States government to provide R&D services. The larger of these two contracts was modified and accounted for as a new contract in the quarter ending December 31, 2024. These contracts were not accounted for as revenue prior to September 30, 2024 as they were not in the ordinary course of business and the counterparties were not customers under GAAP. In September 2024, the Company was awarded a best effort cost-plus-fixed fee contract up to $ 16.0 million by the United States Department of the Navy’s Office of Naval Research (“ONR”) to research the suitability of its KARNO generator for Navy ships and stationary power applications. Under the agreement, the Company will provide R&D services through September 2026, including delivery of up to seven KARNO generators. The ONR contract represented a significant change in business strategy toward providing R&D activities in the ordinary course of business in addition to developing power generators for stationary and mobile applications. The Company now accounts for all three contracts under ASC 606 beginning in the quarter ending December 31, 2024. The remaining amounts of revenue that we may recognize under these contracts was up to $ 15.7 million as of December 31, 2024, which is expected to be recognized in 2025 and 2026. | text | 15.7 | monetaryItemType | text: <entity> 15.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company was performing under two contracts as both a prime and subcontractor to the United States government to provide R&D services. The larger of these two contracts was modified and accounted for as a new contract in the quarter ending December 31, 2024. These contracts were not accounted for as revenue prior to September 30, 2024 as they were not in the ordinary course of business and the counterparties were not customers under GAAP. In September 2024, the Company was awarded a best effort cost-plus-fixed fee contract up to $ 16.0 million by the United States Department of the Navy’s Office of Naval Research (“ONR”) to research the suitability of its KARNO generator for Navy ships and stationary power applications. Under the agreement, the Company will provide R&D services through September 2026, including delivery of up to seven KARNO generators. The ONR contract represented a significant change in business strategy toward providing R&D activities in the ordinary course of business in addition to developing power generators for stationary and mobile applications. The Company now accounts for all three contracts under ASC 606 beginning in the quarter ending December 31, 2024. The remaining amounts of revenue that we may recognize under these contracts was up to $ 15.7 million as of December 31, 2024, which is expected to be recognized in 2025 and 2026. </context> | us-gaap:GovernmentAssistanceAwardAmount |
Marketing, promotional and advertising costs are expensed as incurred and are included as an element of selling, general and administrative expense in the consolidated statement of operations. Marketing, promotional and advertising costs were $ 0.1 million and $ 1.3 million for the years ended December 31, 2024 and 2023, respectively. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> Marketing, promotional and advertising costs are expensed as incurred and are included as an element of selling, general and administrative expense in the consolidated statement of operations. Marketing, promotional and advertising costs were $ 0.1 million and $ 1.3 million for the years ended December 31, 2024 and 2023, respectively. </context> | us-gaap:MarketingAndAdvertisingExpense |
Marketing, promotional and advertising costs are expensed as incurred and are included as an element of selling, general and administrative expense in the consolidated statement of operations. Marketing, promotional and advertising costs were $ 0.1 million and $ 1.3 million for the years ended December 31, 2024 and 2023, respectively. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> Marketing, promotional and advertising costs are expensed as incurred and are included as an element of selling, general and administrative expense in the consolidated statement of operations. Marketing, promotional and advertising costs were $ 0.1 million and $ 1.3 million for the years ended December 31, 2024 and 2023, respectively. </context> | us-gaap:MarketingAndAdvertisingExpense |
The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $ 0.0001 per share. The Company’s Board is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, option or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. At December 31, 2024 and 2023, there were no shares of preferred stock issued and outstanding. | text | 10000000 | sharesItemType | text: <entity> 10000000 </entity> <entity type> sharesItemType </entity type> <context> The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $ 0.0001 per share. The Company’s Board is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, option or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. At December 31, 2024 and 2023, there were no shares of preferred stock issued and outstanding. </context> | us-gaap:PreferredStockSharesAuthorized |
The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $ 0.0001 per share. The Company’s Board is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, option or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. At December 31, 2024 and 2023, there were no shares of preferred stock issued and outstanding. | text | 0.0001 | perShareItemType | text: <entity> 0.0001 </entity> <entity type> perShareItemType </entity type> <context> The Company is authorized to issue 10,000,000 shares of preferred stock with a par value of $ 0.0001 per share. The Company’s Board is authorized to fix the voting rights, if any, designations, powers, preferences, the relative, participating, option or other special rights and any qualifications, limitations and restrictions thereof, applicable to the shares of each series. At December 31, 2024 and 2023, there were no shares of preferred stock issued and outstanding. </context> | us-gaap:PreferredStockParOrStatedValuePerShare |
On May 21, 2024, the Company’s shareholders approved a new long-term incentive award plan (the “2024 Plan”). The 2024 Plan is administered by the Board and the compensation committee. The selection of participants, allotment of shares, determination of price and other conditions are approved by the Board and the compensation committee at its sole discretion in order to attract and retain personnel instrumental to the success of the Company. Under the 2024 Plan, the Company may grant awards covering up to 8,000,000 shares of common stock, plus the amount of authorized but unissued shares under the 2020 | text | 8000000 | sharesItemType | text: <entity> 8000000 </entity> <entity type> sharesItemType </entity type> <context> On May 21, 2024, the Company’s shareholders approved a new long-term incentive award plan (the “2024 Plan”). The 2024 Plan is administered by the Board and the compensation committee. The selection of participants, allotment of shares, determination of price and other conditions are approved by the Board and the compensation committee at its sole discretion in order to attract and retain personnel instrumental to the success of the Company. Under the 2024 Plan, the Company may grant awards covering up to 8,000,000 shares of common stock, plus the amount of authorized but unissued shares under the 2020 </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
Share-based compensation expense under the 2024 Plan for the years ended December 31, 2024 and 2023 was nil . The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was nil . There was $ 0.4 million of unrecognized compensation expense related to the 2024 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 2.7 years. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Share-based compensation expense under the 2024 Plan for the years ended December 31, 2024 and 2023 was nil . The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was nil . There was $ 0.4 million of unrecognized compensation expense related to the 2024 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 2.7 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
On October 1, 2020, the Company’s shareholders approved a new long-term incentive award plan (the “2020 Plan”) in connection with the business combination agreement and plan of reorganization, pursuant to which SHLL Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Tortoise Acquisition Corp., a Delaware corporation, merged with and into the Company on June 18, 2020. The 2020 Plan is administered by the Board and the compensation committee. The selection of participants, allotment of shares, determination of price and other conditions are approved by the Board and the compensation committee at its sole discretion in order to attract and retain personnel instrumental to the success of the Company. Under the 2020 Plan, the Company may grant an aggregate of 12,200,000 shares of common stock in the form of nonstatutory stock options, incentive stock options, SARs, restricted stock awards, performance awards and other awards. No stock options have been granted under the 2020 Plan. No further grants can be made under the 2020 Plan. | text | 12200000 | sharesItemType | text: <entity> 12200000 </entity> <entity type> sharesItemType </entity type> <context> On October 1, 2020, the Company’s shareholders approved a new long-term incentive award plan (the “2020 Plan”) in connection with the business combination agreement and plan of reorganization, pursuant to which SHLL Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Tortoise Acquisition Corp., a Delaware corporation, merged with and into the Company on June 18, 2020. The 2020 Plan is administered by the Board and the compensation committee. The selection of participants, allotment of shares, determination of price and other conditions are approved by the Board and the compensation committee at its sole discretion in order to attract and retain personnel instrumental to the success of the Company. Under the 2020 Plan, the Company may grant an aggregate of 12,200,000 shares of common stock in the form of nonstatutory stock options, incentive stock options, SARs, restricted stock awards, performance awards and other awards. No stock options have been granted under the 2020 Plan. No further grants can be made under the 2020 Plan. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. | text | 2.7 | sharesItemType | text: <entity> 2.7 </entity> <entity type> sharesItemType </entity type> <context> We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. | text | 0.83 | perShareItemType | text: <entity> 0.83 </entity> <entity type> perShareItemType </entity type> <context> We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodIntrinsicValue |
We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. | text | 90 | percentItemType | text: <entity> 90 </entity> <entity type> percentItemType </entity type> <context> We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate |
We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. | text | 4.35 | percentItemType | text: <entity> 4.35 </entity> <entity type> percentItemType </entity type> <context> We granted 2.7 million market-conditioned restricted stock units in 2024 that vested between February 13, 2025 and December 31, 2026 contingent upon achieving underlying closing stock price thresholds. Through December 31, 2024, there was achievement of underlying closing stock price thresholds on 100 % of these awards which will vest between August 2025 and December 2026. These awards were valued at $ 0.83 per unit using fair value hierarchy Level III inputs including an underlying share volatility of 90 % and a risk-free rate of 4.35 %. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate |
Excludes 1,336,667 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. | text | 1336667 | sharesItemType | text: <entity> 1336667 </entity> <entity type> sharesItemType </entity type> <context> Excludes 1,336,667 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Excludes 25,000 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. | text | 25000 | sharesItemType | text: <entity> 25000 </entity> <entity type> sharesItemType </entity type> <context> Excludes 25,000 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Excludes 59,584 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. | text | 59584 | sharesItemType | text: <entity> 59584 </entity> <entity type> sharesItemType </entity type> <context> Excludes 59,584 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod |
Excludes 633,750 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. These excluded shares were not granted during the year ended December 31, 2024. | text | 633750 | sharesItemType | text: <entity> 633750 </entity> <entity type> sharesItemType </entity type> <context> Excludes 633,750 shares underlying RSU awards with performance conditions, which have not been accounted for because no accounting grant date has been established. These excluded shares were not granted during the year ended December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. | text | 4.6 | monetaryItemType | text: <entity> 4.6 </entity> <entity type> monetaryItemType </entity type> <context> Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. </context> | us-gaap:EmployeeBenefitsAndShareBasedCompensation |
Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. | text | 6.2 | monetaryItemType | text: <entity> 6.2 </entity> <entity type> monetaryItemType </entity type> <context> Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. </context> | us-gaap:EmployeeBenefitsAndShareBasedCompensation |
Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. | text | 2.3 | monetaryItemType | text: <entity> 2.3 </entity> <entity type> monetaryItemType </entity type> <context> Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. | text | 2.8 | monetaryItemType | text: <entity> 2.8 </entity> <entity type> monetaryItemType </entity type> <context> Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue |
Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. | text | 4.6 | monetaryItemType | text: <entity> 4.6 </entity> <entity type> monetaryItemType </entity type> <context> Share-based compensation expense under the 2020 Plan for the years ended December 31, 2024 and 2023 was $ 4.6 million and $ 6.2 million, respectively. The fair value of RSUs that vested during the years ended December 31, 2024 and 2023 was $ 2.3 million and $ 2.8 million, respectively. There was $ 4.6 million of unrecognized compensation expense related to the 2020 Plan at December 31, 2024, which is expected to be recognized over the remaining vesting periods, subject to forfeitures, with a weighted-average period of 1.8 years. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The Hyliion Inc. 2016 Equity Incentive Plan (the “2016 Plan”), as amended in August 2017 and approved by the Board, permitted the granting of various awards including stock options (including both nonqualified options and incentive options), stock appreciation rights (“SARs”), stock awards, phantom stock units, performance awards and other share-based awards to employees, outside directors and consultants and advisors of the Company. Only stock options have been awarded to employees, consultants and advisors under the 2016 Plan. No further grants can be made under the 2016 Plan. | text | No | sharesItemType | text: <entity> No </entity> <entity type> sharesItemType </entity type> <context> The Hyliion Inc. 2016 Equity Incentive Plan (the “2016 Plan”), as amended in August 2017 and approved by the Board, permitted the granting of various awards including stock options (including both nonqualified options and incentive options), stock appreciation rights (“SARs”), stock awards, phantom stock units, performance awards and other share-based awards to employees, outside directors and consultants and advisors of the Company. Only stock options have been awarded to employees, consultants and advisors under the 2016 Plan. No further grants can be made under the 2016 Plan. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized |
At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue |
At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. | text | 0.3 | monetaryItemType | text: <entity> 0.3 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 |
At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue |
At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. | text | 2.4 | monetaryItemType | text: <entity> 2.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue |
At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. | text | nil | monetaryItemType | text: <entity> nil </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. </context> | us-gaap:EmployeeBenefitsAndShareBasedCompensation |
At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, the options outstanding and exercisable had an intrinsic value of $ 0.5 million and $ 0.3 million, respectively. There were no options with an exercise price greater than the market price on December 31, 2024 to exclude from the intrinsic value computation. The intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $ 0.4 million and $ 2.4 million, respectively. Share-based compensation expense under the 2016 Plan for the years ended December 31, 2024 and 2023 was nil and there was no unrecognized compensation expense related the 2016 Plan at December 31, 2024. </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
The Company has an authorized employee stock purchase plan (the “ESPP”) that would enable employees to contribute up to 15 % of their base compensation toward the purchase of the Company’s common stock at 85 % of its market value on the first or last day of each offering period. The ESPP was not implemented through December 31, 2024. | text | 15 | percentItemType | text: <entity> 15 </entity> <entity type> percentItemType </entity type> <context> The Company has an authorized employee stock purchase plan (the “ESPP”) that would enable employees to contribute up to 15 % of their base compensation toward the purchase of the Company’s common stock at 85 % of its market value on the first or last day of each offering period. The ESPP was not implemented through December 31, 2024. </context> | us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardMaximumEmployeeSubscriptionRate |
The Company has an authorized employee stock purchase plan (the “ESPP”) that would enable employees to contribute up to 15 % of their base compensation toward the purchase of the Company’s common stock at 85 % of its market value on the first or last day of each offering period. The ESPP was not implemented through December 31, 2024. | text | 85 | percentItemType | text: <entity> 85 </entity> <entity type> percentItemType </entity type> <context> The Company has an authorized employee stock purchase plan (the “ESPP”) that would enable employees to contribute up to 15 % of their base compensation toward the purchase of the Company’s common stock at 85 % of its market value on the first or last day of each offering period. The ESPP was not implemented through December 31, 2024. </context> | us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent |
Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, </context> | us-gaap:Depreciation |
Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, | text | 3.2 | monetaryItemType | text: <entity> 3.2 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, </context> | us-gaap:Depreciation |
Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, </context> | us-gaap:Depreciation |
Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> Depreciation expense for the years ended December 31, 2024 and 2023 totaled approximately $ 3.1 million and $ 3.2 million, respectively. For the year ended December 31, 2024, $ 0.4 million and $ 2.7 million was included in selling, general and administrative expenses and R&D expenses, respectively, in the consolidated statements of operations. For the year ended December 31, 2023, </context> | us-gaap:Depreciation |
$ 0.6 million, $ 1.7 million, and $ 0.9 million was included in selling, general and administrative expenses, R&D expenses and exit and termination costs, respectively, in the co | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> $ 0.6 million, $ 1.7 million, and $ 0.9 million was included in selling, general and administrative expenses, R&D expenses and exit and termination costs, respectively, in the co </context> | us-gaap:Depreciation |
$ 0.6 million, $ 1.7 million, and $ 0.9 million was included in selling, general and administrative expenses, R&D expenses and exit and termination costs, respectively, in the co | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> $ 0.6 million, $ 1.7 million, and $ 0.9 million was included in selling, general and administrative expenses, R&D expenses and exit and termination costs, respectively, in the co </context> | us-gaap:Depreciation |
$ 0.6 million, $ 1.7 million, and $ 0.9 million was included in selling, general and administrative expenses, R&D expenses and exit and termination costs, respectively, in the co | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> $ 0.6 million, $ 1.7 million, and $ 0.9 million was included in selling, general and administrative expenses, R&D expenses and exit and termination costs, respectively, in the co </context> | us-gaap:Depreciation |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 346.2 | monetaryItemType | text: <entity> 346.2 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:OperatingLossCarryforwards |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 297.9 | monetaryItemType | text: <entity> 297.9 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:OperatingLossCarryforwards |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 10.5 | monetaryItemType | text: <entity> 10.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:OperatingLossCarryforwards |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 335.7 | monetaryItemType | text: <entity> 335.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:OperatingLossCarryforwards |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 12.5 | monetaryItemType | text: <entity> 12.5 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:OperatingLossCarryforwards |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 4.7 | monetaryItemType | text: <entity> 4.7 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:OtherOperatingIncomeExpenseNet |
The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. | text | 0.1 | monetaryItemType | text: <entity> 0.1 </entity> <entity type> monetaryItemType </entity type> <context> The Company had federal net operating loss carryforwards of $ 346.2 million and $ 297.9 million at December 31, 2024 and 2023, respectively. At December 31, 2024, $ 10.5 million of this amount will begin to expire in 2036 and the remaining $ 335.7 million has an indefinite carryforward period. The Company had state net operating loss carryforwards of $ 12.5 million and $ 12.5 million at December 31, 2024 and 2023, respectively, that will begin to expire beginning in 2036. The Company had federal and state R&D credits of $ 4.7 million that will begin to expire in 2037. The Company’s ability to utilize a portion of net operating loss carryforwards and credits to offset future taxable income, and tax, respectively, is subject to certain limitations under Section 382 of the Internal Revenue Code upon changes in equity ownership of the Company. Due to such limitation, $ 2.0 million of the Company’s net operating loss and less than $ 0.1 million of the Company’s R&D credits will expire unused, regardless of taxable income in future years. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration |
During the quarter ended March 31, 2024, in connection with our operations in Cedar Park, Texas, the Company entered into an agreement with the Cedar Park Economic Development Corporation (“EDC”) that superseded prior agreements, whereby the Company would receive cash grants up to $ 1.1 million from the EDC at various measurement dates during the term of the agreement contingent upon the Company fulfilling and maintaining certain occupancy, investment, and employment requirements. The requirements must be met on or be | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> During the quarter ended March 31, 2024, in connection with our operations in Cedar Park, Texas, the Company entered into an agreement with the Cedar Park Economic Development Corporation (“EDC”) that superseded prior agreements, whereby the Company would receive cash grants up to $ 1.1 million from the EDC at various measurement dates during the term of the agreement contingent upon the Company fulfilling and maintaining certain occupancy, investment, and employment requirements. The requirements must be met on or be </context> | us-gaap:GovernmentAssistanceAwardAmount |
fore specific measurement dates and maintained throughout the term of the agreement, which expires effective December 31, 2029. The Company has received payments to date of $ 0.4 million which are refundable as applicable performance requirements were not met and are included within accrued expenses and other current liabilities as of December 31, 2024. Under the agreement, th | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> fore specific measurement dates and maintained throughout the term of the agreement, which expires effective December 31, 2029. The Company has received payments to date of $ 0.4 million which are refundable as applicable performance requirements were not met and are included within accrued expenses and other current liabilities as of December 31, 2024. Under the agreement, th </context> | us-gaap:GovernmentAssistanceLiabilityNoncurrent |
On December 15, 2023, Zurn Holdings, Inc. (“Holdings”) sold all of the equity interests of its direct subsidiary Zurn Industries, LLC (“Zurn Industries”), together with Zurn Industries’ direct and indirect subsidiaries that primarily held asbestos liabilities, certain assets and cash, in a stock sale transaction to an unaffiliated buyer (“Sale Transaction”). As a result of the Sale Transaction, all asbestos obligations and liabilities, related insurance assets and associated deferred taxes, and other assets sold to the buyer, have been removed from the Company’s consolidated balance sheet effective December 15, 2023 and the Company no longer has any obligation with respect to pending and future asbestos claims related to the divested entities. A loss on the divestiture of asbestos liabilities and certain assets of $ 11.4 million was recognized in the consolidated statements of operations for the twelve months ended December 31, 2023. See Note 17, Commitments and Contingencies for additional information. | text | 11.4 | monetaryItemType | text: <entity> 11.4 </entity> <entity type> monetaryItemType </entity type> <context> On December 15, 2023, Zurn Holdings, Inc. (“Holdings”) sold all of the equity interests of its direct subsidiary Zurn Industries, LLC (“Zurn Industries”), together with Zurn Industries’ direct and indirect subsidiaries that primarily held asbestos liabilities, certain assets and cash, in a stock sale transaction to an unaffiliated buyer (“Sale Transaction”). As a result of the Sale Transaction, all asbestos obligations and liabilities, related insurance assets and associated deferred taxes, and other assets sold to the buyer, have been removed from the Company’s consolidated balance sheet effective December 15, 2023 and the Company no longer has any obligation with respect to pending and future asbestos claims related to the divested entities. A loss on the divestiture of asbestos liabilities and certain assets of $ 11.4 million was recognized in the consolidated statements of operations for the twelve months ended December 31, 2023. See Note 17, Commitments and Contingencies for additional information. </context> | us-gaap:GainLossOnSaleOfBusiness |
Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at the lower of cost or market. Market is determined based on estimated net realizable values. The percentage of the Company’s total inventories valued using the "last-in, first-out" (LIFO) method was 94 % and 92 % at December 31, 2024 and 2023, respectively. All remaining inventories are valued using the "first-in, first-out" (FIFO) method. | text | 94 | percentItemType | text: <entity> 94 </entity> <entity type> percentItemType </entity type> <context> Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at the lower of cost or market. Market is determined based on estimated net realizable values. The percentage of the Company’s total inventories valued using the "last-in, first-out" (LIFO) method was 94 % and 92 % at December 31, 2024 and 2023, respectively. All remaining inventories are valued using the "first-in, first-out" (FIFO) method. </context> | us-gaap:PercentageOfLIFOInventory |
Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at the lower of cost or market. Market is determined based on estimated net realizable values. The percentage of the Company’s total inventories valued using the "last-in, first-out" (LIFO) method was 94 % and 92 % at December 31, 2024 and 2023, respectively. All remaining inventories are valued using the "first-in, first-out" (FIFO) method. | text | 92 | percentItemType | text: <entity> 92 </entity> <entity type> percentItemType </entity type> <context> Inventories are comprised of material, direct labor and manufacturing overhead, and are stated at the lower of cost or market. Market is determined based on estimated net realizable values. The percentage of the Company’s total inventories valued using the "last-in, first-out" (LIFO) method was 94 % and 92 % at December 31, 2024 and 2023, respectively. All remaining inventories are valued using the "first-in, first-out" (FIFO) method. </context> | us-gaap:PercentageOfLIFOInventory |
In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $ 11.6 million, $ 3.4 million and $ 0.8 million, during the years ended December 31, 2024, 2023, and 2022, respectively. | text | 11.6 | monetaryItemType | text: <entity> 11.6 </entity> <entity type> monetaryItemType </entity type> <context> In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $ 11.6 million, $ 3.4 million and $ 0.8 million, during the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:InventoryWriteDown |
In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $ 11.6 million, $ 3.4 million and $ 0.8 million, during the years ended December 31, 2024, 2023, and 2022, respectively. | text | 3.4 | monetaryItemType | text: <entity> 3.4 </entity> <entity type> monetaryItemType </entity type> <context> In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $ 11.6 million, $ 3.4 million and $ 0.8 million, during the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:InventoryWriteDown |
In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $ 11.6 million, $ 3.4 million and $ 0.8 million, during the years ended December 31, 2024, 2023, and 2022, respectively. | text | 0.8 | monetaryItemType | text: <entity> 0.8 </entity> <entity type> monetaryItemType </entity type> <context> In some cases, the Company has determined a certain portion of inventories are excess or obsolete. In those cases, the Company writes down the value of those inventories to their net realizable value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by management, adjustments to established inventory reserves may be required. The total write-down of inventories charged to expense was $ 11.6 million, $ 3.4 million and $ 0.8 million, during the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:InventoryWriteDown |
During the fourth quarter of the year ended December 31, 2024, the Company completed its annual goodwill and intangible asset impairment tests and elected to perform a qualitative assessment. No goodwill impairment charges were recorded during the years ended December 31, 2024, 2023, or 2022. During the year ended December 31, 2024, we recorded a $ 0.6 million impairment charge related to an indefinite-lived tradename no longer used. No intangible asset impairment charges were recorded during the years ended December 31, 2023 or 2022. | text | 0.6 | monetaryItemType | text: <entity> 0.6 </entity> <entity type> monetaryItemType </entity type> <context> During the fourth quarter of the year ended December 31, 2024, the Company completed its annual goodwill and intangible asset impairment tests and elected to perform a qualitative assessment. No goodwill impairment charges were recorded during the years ended December 31, 2024, 2023, or 2022. During the year ended December 31, 2024, we recorded a $ 0.6 million impairment charge related to an indefinite-lived tradename no longer used. No intangible asset impairment charges were recorded during the years ended December 31, 2023 or 2022. </context> | us-gaap:ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill |
The computation for diluted net income per share for the years ended December 31, 2024, 2023, and 2022 excludes 0.2 million, 0.3 million and 0.4 million common shares due to their anti-dilutive effects, respectively. | text | 0.2 | sharesItemType | text: <entity> 0.2 </entity> <entity type> sharesItemType </entity type> <context> The computation for diluted net income per share for the years ended December 31, 2024, 2023, and 2022 excludes 0.2 million, 0.3 million and 0.4 million common shares due to their anti-dilutive effects, respectively. </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
The computation for diluted net income per share for the years ended December 31, 2024, 2023, and 2022 excludes 0.2 million, 0.3 million and 0.4 million common shares due to their anti-dilutive effects, respectively. | text | 0.3 | sharesItemType | text: <entity> 0.3 </entity> <entity type> sharesItemType </entity type> <context> The computation for diluted net income per share for the years ended December 31, 2024, 2023, and 2022 excludes 0.2 million, 0.3 million and 0.4 million common shares due to their anti-dilutive effects, respectively. </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
The computation for diluted net income per share for the years ended December 31, 2024, 2023, and 2022 excludes 0.2 million, 0.3 million and 0.4 million common shares due to their anti-dilutive effects, respectively. | text | 0.4 | sharesItemType | text: <entity> 0.4 </entity> <entity type> sharesItemType </entity type> <context> The computation for diluted net income per share for the years ended December 31, 2024, 2023, and 2022 excludes 0.2 million, 0.3 million and 0.4 million common shares due to their anti-dilutive effects, respectively. </context> | us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Currency transaction (gains) losses are included in other income (expense), net in the consolidated statements of operations and totaled $ 0.8 million, $( 0.9 ) million and $( 1.0 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 0.8 | monetaryItemType | text: <entity> 0.8 </entity> <entity type> monetaryItemType </entity type> <context> Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Currency transaction (gains) losses are included in other income (expense), net in the consolidated statements of operations and totaled $ 0.8 million, $( 0.9 ) million and $( 1.0 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Currency transaction (gains) losses are included in other income (expense), net in the consolidated statements of operations and totaled $ 0.8 million, $( 0.9 ) million and $( 1.0 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Currency transaction (gains) losses are included in other income (expense), net in the consolidated statements of operations and totaled $ 0.8 million, $( 0.9 ) million and $( 1.0 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Currency transaction (gains) losses are included in other income (expense), net in the consolidated statements of operations and totaled $ 0.8 million, $( 0.9 ) million and $( 1.0 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 1.0 | monetaryItemType | text: <entity> 1.0 </entity> <entity type> monetaryItemType </entity type> <context> Assets and liabilities of subsidiaries operating outside of the United States with a functional currency other than the U.S. dollar are translated into U.S. dollars using exchange rates at the end of the respective period. Revenues and expenses of such entities are translated at average exchange rates in effect during the respective period. Foreign currency translation adjustments are included as a component of accumulated other comprehensive loss. Currency transaction (gains) losses are included in other income (expense), net in the consolidated statements of operations and totaled $ 0.8 million, $( 0.9 ) million and $( 1.0 ) million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:ForeignCurrencyTransactionGainLossBeforeTax |
Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $ 18.1 million, $ 18.4 million and $ 12.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 18.1 | monetaryItemType | text: <entity> 18.1 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $ 18.1 million, $ 18.4 million and $ 12.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $ 18.1 million, $ 18.4 million and $ 12.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 18.4 | monetaryItemType | text: <entity> 18.4 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $ 18.1 million, $ 18.4 million and $ 12.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $ 18.1 million, $ 18.4 million and $ 12.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. | text | 12.5 | monetaryItemType | text: <entity> 12.5 </entity> <entity type> monetaryItemType </entity type> <context> Advertising costs are charged to selling, general and administrative expenses on the consolidated statements of operations as incurred and amounted to $ 18.1 million, $ 18.4 million and $ 12.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. </context> | us-gaap:AdvertisingExpense |
On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. | text | 1457.8 | monetaryItemType | text: <entity> 1457.8 </entity> <entity type> monetaryItemType </entity type> <context> On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. | text | 1411.9 | monetaryItemType | text: <entity> 1411.9 </entity> <entity type> monetaryItemType </entity type> <context> On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. </context> | us-gaap:BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable |
On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. | text | 27.48 | perShareItemType | text: <entity> 27.48 </entity> <entity type> perShareItemType </entity type> <context> On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. </context> | us-gaap:BusinessAcquisitionSharePrice |
On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. | text | 45.9 | monetaryItemType | text: <entity> 45.9 </entity> <entity type> monetaryItemType </entity type> <context> On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. </context> | us-gaap:PaymentsToAcquireBusinessesGross |
On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. | text | 51564524 | sharesItemType | text: <entity> 51564524 </entity> <entity type> sharesItemType </entity type> <context> On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. </context> | us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued |
On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. | text | 33.7 | monetaryItemType | text: <entity> 33.7 </entity> <entity type> monetaryItemType </entity type> <context> On July 1, 2022, the Company completed the Elkay Merger for a purchase price (after final purchase price adjustments) of $ 1,457.8 million. Elkay, a market leader of drinking water solutions and commercial sinks, complements the Company's existing product portfolio. The purchase price includes $ 1,411.9 million of Zurn's common stock based on Zurn's closing stock price of $ 27.48 per share on July 1, 2022, and $ 45.9 million of net cash payments for the repayment of Elkay's term loan and Elkay's transaction related costs outstanding that were in excess of Elkay's cash and cash equivalents at the time of closing. Pursuant to the terms of the merger agreement, the Company issued 51,564,524 shares of its common stock, which represented approximately 29 % of outstanding shares immediately following the Merger. During the six months ended June 30, 2023, the Company completed the final purchase price adjustments and the adjusted purchase price is reflected in the purchase price amounts above, following the return of 186,020 of the shares issued at closing to the Company as a result of lower working capital and cash balances at closing compared to targets stipulated in the merger agreement. The shares returned to the Company were canceled upon receipt. The Company incurred transaction-related costs of approximately $ 33.7 million for the twelve months ended December 31, 2022. These costs were associated with legal and professional services and were recognized as selling, general and administrative expenses in the consolidated statements of operations. </context> | us-gaap:BusinessCombinationAcquisitionRelatedCosts |
The following unaudited supplemental pro forma financial information presents the financial results from continuing operations for the year ended December 31, 2022 as if the Elkay Merger had occurred on January 1, 2022. The pro forma financial information includes, where applicable, adjustments for: (i) additional amortization expense that would have been recognized related to the acquired intangible assets, (ii) additional depreciation expense that would have been recognized related to the acquired property, plant, and equipment, and (iii) the estimated income tax effect on the pro forma adjustments. Expenses in the year ended December 31, 2022 include $ 33.7 million of transaction costs and other one-time non-recurring costs and $ 18.3 million of cost of sales related to the inventory valuation adjustment. The pro forma financial information excludes adjustments for estimated cost synergies or other effects of the integration of the Elkay Merger. | text | 33.7 | monetaryItemType | text: <entity> 33.7 </entity> <entity type> monetaryItemType </entity type> <context> The following unaudited supplemental pro forma financial information presents the financial results from continuing operations for the year ended December 31, 2022 as if the Elkay Merger had occurred on January 1, 2022. The pro forma financial information includes, where applicable, adjustments for: (i) additional amortization expense that would have been recognized related to the acquired intangible assets, (ii) additional depreciation expense that would have been recognized related to the acquired property, plant, and equipment, and (iii) the estimated income tax effect on the pro forma adjustments. Expenses in the year ended December 31, 2022 include $ 33.7 million of transaction costs and other one-time non-recurring costs and $ 18.3 million of cost of sales related to the inventory valuation adjustment. The pro forma financial information excludes adjustments for estimated cost synergies or other effects of the integration of the Elkay Merger. </context> | us-gaap:BusinessAcquisitionsProFormaNetIncomeLoss |
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