Company: JBI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001839839-25-000141
Chunk: 55

Company: Janus International Group, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:(dollar amounts in millions)2025$5.0 202610.0 20279.1 20288.9 20297.8 Thereafter54.1 Total future lease payments$94.9 Less: imputed interest(34.6)Present value of future lease payments$60.3 As of June 28, 2025, future minimum repayments of finance leases were as follows:(dollar amounts in millions)2025$0.9 20261.3 20271.0 20280.5 20290.2 Thereafter— Total future lease payments$3.9 Less: imputed interest(0.3)Present value of future lease payments$3.6 

15

Janus International Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

6. Business Combination

Terminal Door Asset AcquisitionOn May 17, 2024, we, through our wholly owned subsidiary Terminal Door, LLC (“Terminal Door”), acquired 100% of the business operations (such transaction, the “T.M.C. Acquisition”) of Smith T.M.C., Inc., a Georgia corporation, Jerry O. Smith Company, LLC, a Georgia limited liability company, and J.O.S. Realty, Inc., a Georgia corporation (collectively, “T.M.C.” or the “T.M.C. Sellers”). Pursuant to the asset purchase agreement for such acquisition, Terminal Door acquired substantially all assets of the T.M.C. Sellers related to the business of trucking terminal renovation, construction, remodeling, and maintenance. We accounted for this acquisition as a business combination.The following tables summarize the fair value of consideration transferred and the recognized amount of identified assets acquired, and liabilities assumed at the date of acquisition:(dollar amounts in millions)SegmentNorth AmericaConsideration transferredCash paid$59.4 Total purchase consideration, net of cash acquired$59.4 Recognized amounts of identifiable assets acquired Accounts receivable$2.4 Inventory0.2 Property and equipment0.4 Identifiable intangible assets42.5 Recognized amounts of identifiable liabilities assumedAccounts payable(0.4)Contract liabilities(0.5)Total identifiable net assets$44.6 Goodwill14.8 Total net assets acquired$59.4 We recognized goodwill related to the T.M.C.