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Acquisition (Tables)
6 Months Ended
Oct. 31, 2024
Business Combination and Asset Acquisition [Abstract]  
Preliminary fair values of the assets acquired and liabilities assumed
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 – net181.1 
Inventories66.0 
Other current assets6.0 
Property, plant, and equipment – net534.5 
Operating lease right-of-use assets17.2 
Goodwill2,446.8 
Other intangible assets – net3,038.6 
Other noncurrent assets43.2 
Total assets acquired$6,468.4 
Liabilities assumed:
Accounts payable$67.3 
Other current liabilities249.0 
Deferred income taxes639.4 
Noncurrent operating lease liabilities14.5 
Other noncurrent liabilities 1.4 
Total liabilities assumed971.6 
Net assets acquired$5,496.8 
Finite-lived and indefinite-lived intangible assets acquired
The following table summarizes the 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 
Business acquisition pro forma information If the transaction had occurred on May 1, 2022, unaudited pro forma consolidated results for the three and six months ended October 31, 2023, would have been as follows:
Three Months Ended October 31, 2023Six Months Ended October 31, 2023
Net sales$2,294.1 $4,453.9 
Net income (loss)183.4 345.9 
Net income (loss) per common share – assuming dilution1.72 $3.25