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Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Tables) | 6 Months Ended
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Sep. 30, 2021
Business Acquisitions and Divestitures [Abstract] |
Consideration Paid [Table] | The total consideration for Cantel Common Stock and s tock equivalents was $3,599,471. The consideration was comprised of the following:
(shares in thousands) |
Cash consideration $16.93 per Cantel share (42,816 shares) | $ | 716,412 |
Cash consideration for fractional shares | 14 |
STERIS plc ordinary shares (14,297 shares at 188.07 per share) | 2,689,317 |
Consideration related to Cantel equity compensation programs | 18,173 |
Consideration related to equity component of Cantel convertible debt | 175,555 |
Total purchase consideration | $ | 3,599,471 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
| Cantel (1)
Cash | $ | 169,073 |
Accounts receivable | 172,226 |
Inventory | 271,132 |
Property, plant and equipment | 227,783 |
Lease right-of-use assets, net | 48,504 |
Other assets | 65,837 |
Intangible assets | 2,190,000 |
Goodwill | 2,149,827 |
Total assets acquired | 5,294,382 |
Convertible debt, par value | 168,000 |
Other current liabilities | 243,331 |
Long-term lease obligations | 40,768 |
Deferred income taxes, net | 521,528 |
Long-term indebtedness | 721,284 |
Total liabilities assumed | 1,694,911 |
Net assets acquired | $ | 3,599,471 |
(1) Purchase price allocation is still preliminary as of September 30, 2021, as valuations have not been finalized.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination |
|  | Total (1) |  | Useful Life
Customer relationships |  | $ | 2,060,000 |  |  | 10 years
Trade name |  | 130,000 |  |  | 10 years
Total intangible assets acquired |  | $ | 2,190,000 |  |  |
(1) Amounts are preliminary as of September 30, 2021, as valuations have not been finalized.
Business Acquisition, Pro Forma Information | The following unaudited pro forma information gives effect to our acquisition of Cantel as if the acquisition had occurred on April 1, 2020 and Cantel had been included in our consolidated results of operations for the three-month and six-month periods ended September 30, 2021 and 2020.
|  | Three Months Ended September 30, | Six Months Ended September 30 |
|  | (unaudited) | (unaudited) |
|  | 2021 |  | 2020 | 2021 |  | 2020 |  |  |
Net revenues |  | $ | 1,196,985 |  |  | $ | 1,035,265 |  | $ | 2,370,504 |  |  | $ | 1,905,139 |  |  |  |
Net income (loss) from continuing operations |  | 137,375 |  |  | 58,593 |  | 231,017 |  |  | (62,106) |  |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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