Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 48

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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.5 50.6 Leasehold improvementsOver the shorter of the lease term or respective useful life13.4 12.9 Computer and software3 years16.3 16.3 Furniture and fixtures, and vehicles3-7 years6.0 5.9 Construction in progress—13.5 12.8 Total property, plant, and equipment$109.1 $101.9 Less: accumulated depreciation(48.0)(45.1)Property, plant, and equipment, net$61.1 $56.8 

Depreciation expense included in cost of revenues, was approximately $2.0 and $1.8 for the three month periods ended March 29, 2025 and March 30, 2024, respectively. Depreciation expense included in operating expenses was $0.9 and $1.0 for the three month periods ended March 29, 2025 and March 30, 2024, respectively. 

13

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

5. Business Combination

Terminal Door Asset AcquisitionOn May 17, 2024, the Company, through its 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. The Company 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