ACQUISITIONS (Tables)

9 Months Ended

Jul. 04, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation

The calculation of purchase price and purchase price allocation is as follows:

(in millions)	Amount
Cash consideration	$	301.1
Estimated working capital settlement	0.4
Total consideration	$	301.5

The calculation of purchase price and purchase price allocation is as follows:

(in millions)	Amount
Cash paid	$	187.7
Debt assumed	51.0
Cash consideration	$	136.7

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

(in millions)	Purchase Price Allocation
Cash and cash equivalents	$	1.4
Trade receivables, net	10.2
Inventories	15.4
Prepaid expenses and other current assets	0.3
Property, plant and equipment, net	0.4
Goodwill	147.0
Intangible assets, net	128.7
Accounts payable	(1.7)
Accrued wages and salaries	(0.1)
Other current liabilities	(0.1)
Net assets acquired	$	301.5

(in millions)	Purchase Price Allocation
Cash and cash equivalents	$	6.9
Trade receivables, net	16.7
Other receivables	1.9
Inventories	16.3
Prepaid expenses and other current assets	0.2
Property, plant and equipment, net	3.0
Operating lease assets	0.1
Deferred charges and other	0.9
Goodwill	90.7
Intangible assets, net	88.6
Accounts payable	(9.2)
Accrued wages and salaries	(1.5)
Other current liabilities	(7.0)
Long-term debt, net of current portion	(51.0)
Long-term operating lease liabilities	(0.1)
Deferred income taxes	(18.0)
Other long-term liabilities	(1.8)
Net assets acquired	$	136.7

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The values allocated to intangible assets and the weighted average useful lives are as follows:

(in millions)	Carrying Amount		Weighted Average Useful Life (Years)
Tradenames	$	119.0	Indefinite
Customer relationships	8.4		14 years
Technology	1.3		11 years
Total intangibles acquired	$	128.7

The values allocated to intangible assets and the weighted average useful lives are as follows:

(in millions)	Carrying Amount		Weighted Average Useful Life (Years)
Tradenames	$	74.3	Indefinite
Customer relationships	14.3		12 years
Total intangibles acquired	$	88.6