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Acquisitions (Tables) | 9 Months Ended
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Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary aggregate purchase price allocation is as follows (in millions):
|  | Purchase Price Allocation
Receivables |  | $ | 8.1 |
Inventory |  | 22.0 |
Goodwill |  | 282.8 |
Intangible assets |  | 313.4 |
All other assets |  | 10.2 |
Total assets acquired |  | 636.5 |
Less: Deferred tax liability |  | (8.9) |
Less: Liabilities assumed |  | (18.6) |
Net assets acquired |  | $ | 609.0 |
|  | Purchase Consideration
Cash consideration, net of cash acquired |  | $ | 566.0 |
Contingent consideration |  | 43.0 |
Total purchase consideration, net of cash acquired |  | $ | 609.0 |
The preliminary aggregate purchase price allocation is as follows (in millions):
|  | Purchase Price Allocation
Receivables |  | $ | 8.0 |
Goodwill |  | 133.5 |
Intangible assets |  | 47.2 |
All other assets |  | 0.7 |
Total assets acquired |  | 189.4 |
Less: Liabilities assumed |  | (6.2) |
Net assets acquired |  | $ | 183.2 |
|  | Purchase Consideration
Total purchase consideration, net of cash acquired |  | $ | 183.2 |
The aggregate purchase price allocation is as follows (in millions):
|  | Purchase Price Allocation
Receivables |  | $ | 23.8 |
Inventories |  | 17.7 |
Property |  | 27.5 |
Goodwill |  | 111.3 |
Other intangible assets |  | 54.1 |
All other assets |  | 21.0 |
Total assets acquired |  | 255.4 |
Less: Liabilities assumed |  | (12.6) |
Less: Deferred income taxes |  | (56.6) |
Net assets acquired, excluding cash |  | $ | 186.2 |
|  | Purchase Consideration
Total purchase consideration, net of cash acquired |  | $ | 186.2 |
Schedule of Business Acquisitions by Acquisition, Contingent Consideration | The following table presents the fair value of the contingent consideration in the Consolidated Balance Sheet (in millions):
|  | Period ended February 29, 2024 |  | Period ended February 28, 2025 |  | Total
Contingent consideration as of December 31, 2023 |  | $ | 17.5 |  |  | $ | 25.5 |  |  | $ | 43.0 |
Adjustment for earnout achieved for first performance period |  | (7.7) |  |  | — |  |  | (7.7) |
Adjustment to fair value |  | — |  |  | 0.7 |  |  | 0.7 |
Payment of earnout achieved for first performance period |  | (9.8) |  |  | — |  |  | (9.8) |
Contingent consideration as of June 30, 2024 |  | $ | — |  |  | $ | 26.2 |  |  | $ | 26.2 |

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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