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Acquisition (Tables) | 12 Months Ended
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Apr. 30, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Fair values of the assets acquired and liabilities assumed | The following table summarizes the fair values of the assets acquired and liabilities assumed at the acquisition date.
Assets acquired: |
Cash and cash equivalents | $ | 135.0 |
Trade receivables – net | 181.1 |
Inventories | 66.0 |
Other current assets | 6.0 |
Property, plant, and equipment – net | 534.5 |
Operating lease right-of-use assets | 17.2 |
Goodwill | 2,446.8 |
Other intangible assets – net | 3,038.6 |
Other noncurrent assets | 43.2 |
Total assets acquired | $ | 6,468.4 |
Liabilities assumed: |
Accounts payable | $ | 67.3 |
Other current liabilities | 249.0 |
Deferred income taxes | 639.4 |
Noncurrent operating lease liabilities | 14.5 |
Other noncurrent liabilities | 1.4 |
Total liabilities assumed | 971.6 |
Net assets acquired | $ | 5,496.8 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as part of Business Combination | 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 year ended April 30, 2024, would have been as follows:
|  |  |  |  | Year Ended April 30, 2024
Net sales |  |  |  |  | $ | 8,912.8 |
Net income (loss) |  |  |  |  | 761.9 |
Net income (loss) per common share – assuming dilution |  |  |  |  | 7.15 |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + 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 -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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