XML 51 R41.htm IDEA: XBRL DOCUMENT
v3.21.2

Business Acquisitions (Tables) | 3 Months Ended
--- | ---
Jul. 31, 2021
Schedule of the fair value of the assets acquired and liabilities assumed at the acquisition date | The following table summarizes the provisional allocation of the purchase price over the estimated fair value of the assets and liabilities assumed in the acquisition of Telerob (in thousands):
​ | ​ | ​ | ​ | ​
​ | ​ | May 3, | ​
​ | ​ | 2021 | ​
Fair value of assets acquired: | ​ | ​ | ​ | ​
Accounts receivable |  | $ | 1,045 | ​
Unbilled receivable | ​ | ​ | 829 | ​
Inventories, net | ​ | ​ | 15,074 | ​
Prepaid and other current assets | ​ | ​ | 314 | ​
Property and equipment, net | ​ | ​ | 1,571 | ​
Operating lease assets | ​ | ​ | 1,508 | ​
Other assets | ​ | ​ | 154 | ​
Technology | ​ | ​ | 11,500 | ​
Backlog | ​ | ​ | 2,400 | ​
Customer relationships | ​ | ​ | 5,000 | ​
Other intangible assets | ​ | ​ | 102 | ​
Goodwill | ​ | ​ | 21,140 | ​
Total assets acquired | ​ | $ | 60,637 | ​
​ | ​ | ​ | ​ | ​
Fair value of liabilities assumed: | ​ | ​ | ​ | ​
Accounts payable | ​ | $ | 1,136 | ​
Wages and related accruals | ​ | ​ | 560 | ​
Customer advances | ​ | ​ | 1,243 | ​
Current operating lease liabilities | ​ | ​ | 361 | ​
Other current liabilities | ​ | ​ | 3,310 | ​
Non-current operating lease liabilities | ​ | ​ | 1,147 | ​
Other non-current liabilities | ​ | ​ | 224 | ​
Deferred income taxes | ​ | ​ | 5,617 | ​
Total liabilities assumed | ​ | ​ | 13,598 | ​
Total identifiable net assets | ​ | $ | 47,039 | ​
​ | ​ | ​ | ​ | ​
Fair value of consideration: | ​ | ​ | ​ | ​
Cash consideration, net of cash acquired | ​ | $ | 46,150 | ​
Contingent consideration | ​ | ​ | 889 | ​
Total | ​ | $ | 47,039 | ​
Schedule of unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred | The following unaudited pro forma summary presents consolidated information of the Company as if the business acquisition had occurred on May 1, 2020 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | July 31, | ​ | August 1,
​ |  | 2021 |  | 2020
Revenue | ​ | $ | 101,009 | ​ | $ | 95,143
Net (loss) income attributable to AeroVironment, Inc. | ​ | $ | (12,298) | ​ | $ | 8,856
Arcturus UAV Inc. |
Schedule of the fair value of the assets acquired and liabilities assumed at the acquisition date | The following table summarizes the allocation of the purchase price over the estimated fair value of the assets and liabilities assumed in the acquisition of Arcturus (in thousands): ​
​ | ​ | ​ | ​ | ​
​ | ​ | February 19, | ​
​ | ​ | 2021 | ​
Fair value of assets acquired: | ​ | ​ | ​ | ​
Accounts receivable | ​ | $ | 6,050 | ​
Unbilled receivable | ​ | ​ | 4,176 | ​
Inventories, net | ​ | ​ | 21,701 | ​
Prepaid and other current assets | ​ | ​ | 3,076 | ​
Property and equipment, net | ​ | ​ | 38,739 | ​
Operating lease assets | ​ | ​ | 11,429 | ​
Other assets | ​ | ​ | 136 | ​
Technology | ​ | ​ | 20,500 | ​
Customer relationships | ​ | ​ | 62,700 | ​
Goodwill | ​ | ​ | 288,611 | ​
Total assets acquired | ​ | $ | 457,118 | ​
​ | ​ | ​ | ​ | ​
Fair value of liabilities assumed: | ​ | ​ | ​ | ​
Accounts payable | ​ | $ | 3,085 | ​
Wages and related accruals | ​ | ​ | 1,698 | ​
Customer advances | ​ | ​ | 1,818 | ​
Other current liabilities | ​ | ​ | 8,534 | ​
Operating lease liabilities | ​ | ​ | 12,297 | ​
Other non-current liabilities | ​ | ​ | 1,190 | ​
Deferred income taxes, net | ​ | ​ | 5,869 | ​
Total liabilities assumed | ​ | ​ | 34,491 | ​
Total identifiable net assets | ​ | $ | 422,627 | ​
​ | ​ | ​ | ​ | ​
Fair value of consideration transferred: |  | ​ | ​ | ​
Cash consideration, net of cash acquired | ​ | $ | 350,243 | ​
Equity consideration | ​ | ​ | 72,384 | ​
Total consideration | ​ | $ | 422,627 | ​
Schedule of unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred | The following unaudited pro forma summary presents consolidated information of the Company as if the business acquisition had occurred on May 1, 2019 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | ​ | ​ | August 1,
​ |  | ​ | ​ |  | 2020
Revenue | ​ | ​ | ​ | ​ | $ | 112,567
Net income attributable to AeroVironment, Inc. | ​ | ​ | ​ | ​ | $ | 16,859
Intelligent Systems Group |
Schedule of the fair value of the assets acquired and liabilities assumed at the acquisition date | The following table summarizes the allocation of the purchase price over the estimated fair value of the assets and liabilities assumed in the ISG Acquisition (in thousands): ​
​ | ​ | ​ | ​ | ​
​ | ​ | February 23, | ​
​ | ​ | 2021 | ​
Fair value of assets acquired: | ​ | ​ | ​ | ​
Technology |  | $ | 11,400 | ​
Customer relationships | ​ | ​ | 4,500 | ​
Other assets | ​ | ​ | 217 | ​
Goodwill | ​ | ​ | 19,254 | ​
Total identifiable net assets | ​ | $ | 35,371 | ​
​ | ​ | ​ | ​ | ​
Fair value of consideration transferred: | ​ | ​ | ​ | ​
Cash | ​ | $ | 29,700 | ​
Holdback | ​ | ​ | 150 | ​
Contingent consideration | ​ | ​ | 5,521 | ​
Total consideration | ​ | $ | 35,371 | ​
Schedule of unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred | The following unaudited pro forma summary presents consolidated information of the Company as if the business acquisition had occurred on May 1, 2019 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Three Months Ended
​ | ​ | ​ | ​ | ​ | August 1,
​ |  | ​ | ​ |  | 2020
Revenue | ​ | ​ | ​ | ​ | $ | 90,333
Net income attributable to AeroVironment, Inc. | ​ | ​ | ​ | ​ | $ | 10,386

X
- Definition Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(4) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationNonrecurringAdjustmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=121647850&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=avav_ArcturusUavInc.Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=avav_IntelligentSystemsGroupMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |