Acquisition of Maverick Boat Group (Tables)

6 Months Ended

Dec. 31, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the purchase price allocation based on the estimated fair values of the assets acquired and liabilities assumed at the acquisition date:

Consideration:
Cash consideration paid	$	150,675
Recognized amounts of identifiable assets acquired and (liabilities assumed), at fair value:
Cash	$	248
Accounts receivable	3,204
Inventories	7,756
Other current assets	194
Property, plant and equipment	22,618
Identifiable intangible assets	102,600
Other assets	4,410
Current liabilities	(6,611)
Deferred tax liabilities	(28,528)
Other liabilities	(4,405)
Fair value of assets acquired and liabilities assumed	101,486
Goodwill	49,189
Total purchase price	$	150,675

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

The fair value estimates for the Company's identifiable intangible assets acquired as part of the acquisition are as follows:

	Estimates of Fair Value		Estimated Useful Life (in years)
Definite-lived intangibles:
Dealer relationships	$	47,900	20
Total definite-lived intangibles	47,900
Indefinite-lived intangible:
Trade name	54,700
Total other intangible assets	$	102,600

Business Acquisition, Pro Forma Information

The following unaudited pro forma consolidated results of operations for the three and six months ended December 31, 2021 and 2020, assumes that the acquisition of Maverick Boat Group occurred as of July 1, 2020. The unaudited interim pro forma financial information combines historical results of Malibu and Maverick Boat Group, with adjustments for depreciation and amortization attributable to fair value estimates on acquired tangible and intangible assets for the respective periods. Non-recurring pro forma adjustments associated with the fair value step up of inventory were included in the reported pro forma cost of sales and earnings. The unaudited interim pro forma financial information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of fiscal year 2021 or the results that may occur in the future:

	Three Months Ended December 31,				Six Months Ended December 31,
	2021		2020		2021		2020
Net sales	$	263,887	$	224,348	$	517,384	$	432,651
Net income	30,979		23,287		58,912		46,500
Net income attributable to Malibu Boats, Inc.	29,891		22,335		56,835		44,572
Basic earnings per share	$	1.43	$	1.08	$	2.72	$	2.16
Diluted earnings per share	$	1.41	$	1.06	$	2.69	$	2.13