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Acquisitions (Tables) | 12 Months Ended
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Feb. 02, 2025
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Allocation of Transaction Price to the Fair Value of Identifiable Assets Acquired and Liabilities Assumed |
|  | Fiscal 2024 Acquisitions(1) |  | Fiscal 2023 Acquisitions |  | Fiscal 2022 Acquisitions
Cash |  | $ | 31 |  |  | $ | 5 |  |  | $ | — |
Receivables |  | 96 |  |  | 48 |  |  | 22 |
Inventories |  | 113 |  |  | 52 |  |  | 44 |
Intangible assets |  | 284 |  |  | 107 |  |  | 43 |
Goodwill |  | 336 |  |  | 26 |  |  | 21 |
Property, plant and equipment |  | 16 |  |  | 35 |  |  | 7 |
Operating lease right-of-use assets |  | 22 |  |  | 8 |  |  | 5 |
Other assets, current and non-current |  | 2 |  |  | 4 |  |  | 4 |
Total assets acquired |  | 900 |  |  | 285 |  |  | 146 |
Accounts payable |  | 44 |  |  | 13 |  |  | 11 |
Deferred income taxes |  | 41 |  |  | 8 |  |  | — |
Operating lease liabilities, current and non-current |  | 22 |  |  | 8 |  |  | 5 |
Deferred consideration |  | 14 |  |  | 12 |  |  | 3 |
Other liabilities, current and non-current |  | 6 |  |  | 7 |  |  | — |
Net assets acquired |  | $ | 773 |  |  | $ | 237 |  |  | $ | 127 |
Schedule of Reconciliation of Total Consideration to Net Assets Acquired |
|  | Fiscal 2024 Acquisitions |  | Fiscal 2023 Acquisitions |  | Fiscal 2022 Acquisitions
Net assets acquired |  | $ | 773 |  |  | $ | 237 |  |  | $ | 127 |
Plus: Working capital adjustment |  | (1) |  |  | (1) |  |  | 1 |
Less: Cash acquired in acquisition |  | (31) |  |  | (5) |  |  | — |
Total consideration, net of cash; investing cash outflow |  | $ | 741 |  |  | $ | 231 |  |  | $ | 128 |
Schedule of Intangible Assets Acquired and Assumptions Utilized in the Valuation | A summary of the intangible assets acquired and assumptions utilized in the valuation, for the acquisitions is as follows:
| Intangible Asset Amount |  | Weighted Average Amortization Period |  | Weighted Average Discount Rate |  | Weighted Average Attrition Rate
Customer Relationships |  |  |  |  |  |  |
Fiscal 2024 Acquisitions(1) | $ | 279 |  |  | 10 years |  | 13.5 | % |  | 12.5 | %
Fiscal 2023 Acquisitions | 106 |  |  | 10 years |  | 16.0 | % |  | 13.2 | %
Fiscal 2022 Acquisitions | 43 |  |  | 10 years |  | 15.6 | % |  | 12.1 | %
Other Intangible Assets |  |  |  |  |  |  |
Fiscal 2024 Acquisitions | $ | 5 |  |  | 5 years |  | 13.6 | % |  | N/A
Fiscal 2023 Acquisitions | 1 |  |  | 2 years |  | 15.5 | % |  | N/A
(1) Customer relationships acquired and assumptions utilized in the valuation for the Dana Kepner acquisition were as follows: $181 million customer relationship intangible asset, 10 years amortization period, 13.0% discount rate and 12.5% attrition rate.
Schedule of Pro Forma Information | The following pro forma information has been prepared for comparative purposes only and is not necessarily indicative of the results of operations as they would have been had the Dana Kepner acquisition occurred on the assumed date, nor is it necessarily an indication of future operating results. In addition, the pro forma information does not reflect the cost of any integration activities, benefits from any synergies that may be derived from the Dana Kepner acquisition or revenue growth that may be anticipated.
|  |  |  |  |  | Fiscal Years Ended
|  |  |  |  |  | February 2, 2025 |  | January 28, 2024
Net sales |  |  |  |  |  | $ | 7,470 |  |  | $ | 7,034 |
Net income |  |  |  |  |  | 435 |  |  | 519 |

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + 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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