| Schedule of Business Combination |
The following table summarizes the preliminary purchase price based on the Company's current estimates of working capital and other adjustments as of September 2025:
|
|
|
|
|
|
|
|
|
(In thousands) |
May 31, 2025 |
|
|
|
Cash consideration paid to seller |
$ |
957,470 |
|
|
| Less: Working capital and other closing adjustments |
(24,632) |
|
|
Purchase price |
$ |
932,838
|
|
|
The following table summarizes the preliminary purchase price allocation of the estimated fair values of assets acquired and liabilities assumed at the Closing Date of the Acquisition:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
May 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
$ |
33,467 |
|
|
|
|
|
|
|
Accounts receivable, net |
79,509 |
|
|
|
|
|
|
|
Inventories |
177,120 |
|
|
|
|
|
|
|
Prepaid expenses and other current assets |
13,902 |
|
|
|
|
|
|
|
Property, plant and equipment |
35,615 |
|
|
|
|
|
|
|
Operating lease assets |
96,640 |
|
|
|
|
|
|
|
Intangible assets |
440,000 |
|
|
|
|
|
|
|
Deferred income tax assets |
14,085 |
|
|
|
|
|
|
|
Other assets |
36,061 |
|
|
|
|
|
|
|
Total assets acquired |
$ |
926,399
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
50,997 |
|
|
|
|
|
|
|
Accrued and other current liabilities |
70,544 |
|
|
|
|
|
|
|
Operating lease liabilities, current |
15,463 |
|
|
|
|
|
|
|
Operating lease liabilities, noncurrent |
81,527 |
|
|
|
|
|
|
|
Deferred income tax liabilities |
78,472 |
|
|
|
|
|
|
|
Other liabilities |
2,174 |
|
|
|
|
|
|
|
Total liabilities assumed |
$ |
299,177
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets acquired |
$ |
627,222 |
|
|
|
|
|
|
|
Goodwill |
305,616 |
|
|
|
|
|
|
|
Purchase price |
$ |
932,838
|
|
|
|
|
|
|
|
|
| Schedule of Unaudited Pro Forma Results of Operations |
The following table summarizes the unaudited pro forma results of operations for the Company assuming that the Acquisition had occurred on December 31, 2023, which is the first day of fiscal year 2024:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September |
|
|
Nine Months Ended September |
(In thousands, except per share amounts) |
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
| Net revenues |
|
$ |
853,215 |
|
|
|
$ |
844,446 |
|
|
|
$ |
2,363,498 |
|
|
|
$ |
2,335,227 |
|
Net income |
|
$ |
37,153 |
|
|
|
$ |
66,381 |
|
|
|
$ |
130,130 |
|
|
|
$ |
166,970 |
|
Earnings per common share |
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.67 |
|
|
|
$ |
1.20 |
|
|
|
$ |
2.34 |
|
|
|
$ |
3.00 |
|
Diluted |
|
$ |
0.66 |
|
|
|
$ |
1.18 |
|
|
|
$ |
2.32 |
|
|
|
$ |
2.96 |
|
|