Acquisition (Tables)

6 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

A summary of the final purchase price allocation is as follows:

Purchase Price Allocation
(Amounts in Thousands)
Cash	$	5,768
Receivables	2,814
Inventories	15,718
Other current assets	700
Net property and equipment	975
Other intangible assets	52,394
Goodwill	70,801
Right-of-use operating lease assets	5,103
Other long-term assets	4,161
Deferred tax assets	5,836
Total Assets	$	164,270
Current maturities of long-term debt	1,252
Accounts payable	7,715
Customer deposits	2,045
Current portion of operating lease liability	1,937
Accrued expenses	5,260
Long-term debt, less current maturities	1,252
Long-term operating lease liability	2,565
Other long-term liabilities	80
Total Liabilities	$	22,106
Net Assets	$	142,164

Business Acquisition Consideration

Consideration
(Amounts in Thousands)
Cash	$	110,374
Contingent earn-out — fair value at acquisition date	31,790
Fair value of total consideration	$	142,164
Less: Acquired cash	5,768
Total consideration less acquired cash	$	136,396

Business Acquisition, Pro Forma Information

The following unaudited pro forma financial information summarizes the combined results of operations for Kimball International, Inc. and Poppin, Inc. as if the companies were combined as of the beginning of fiscal year 2020:

	(unaudited)		(unaudited)
	Three months ended		Six month ended
	December 31		December 31
(Amounts in Thousands, Except Per Share Data)	2020		2020
Net Sales	$	143,500	$	304,290
Net Income (Loss)	(1,640)		1,342
Diluted Earnings (Loss) Per Share of Common Stock	$	(0.04)	$	0.04