Acquisition (Tables)

12 Months Ended

Apr. 30, 2024

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the acquisition date.



Assets acquired:
Cash and cash equivalents	$	135.0
Trade receivables – net	181.1
Inventories	66.0
Other current assets	5.9
Property, plant, and equipment – net	534.5
Operating lease right-of-use assets	17.2
Goodwill	2,447.2
Other intangible assets – net	3,038.6
Other noncurrent assets	43.2
Total assets acquired	$	6,468.7
Liabilities assumed:
Accounts payable	$	67.3
Current operating lease liabilities	4.7
Other current liabilities	244.4
Deferred income taxes	639.6
Noncurrent operating lease liabilities	14.5
Other noncurrent liabilities	1.4
Total liabilities assumed	971.9
Net assets acquired	$	5,496.8

The following table summarizes the preliminary purchase price allocated to the identifiable intangible assets acquired.


Intangible assets with finite lives:
Customer and contractual relationships (25-year useful life)	$	1,238.5
Non-competition agreements (varying useful lives)	38.0
Trademarks (5-year useful life)	9.9
Intangible assets with indefinite lives:
Trademarks	$	1,752.2
Total intangible assets	$	3,038.6

If the transaction had occurred on May 1, 2022, unaudited pro forma consolidated results for 2024 and 2023, would have been as follows:


	Year Ended April 30,
		2024		2023
Net sales		$	8,912.8	$	9,897.2
Net income (loss)		761.9		(55.2)
Net income (loss) per common share – assuming dilution		$	7.15	$	(0.50)