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Acquisitions (Tables)

6 Months Ended

Jul. 27, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the aggregate consideration paid and the estimated fair value of assets acquired and liabilities assumed for each of the acquisitions described above as of the respective acquisition dates (dollars in millions):

			First quarter of fiscal 2025						Second quarter of fiscal 2025
Assets
Cash and equivalents			$	3.2					$	4.1
Accounts receivable			2.2						3.6
Other current assets			—						0.8
Property and equipment			2.4						5.9
Goodwill			3.2						5.4
Intangible assets			5.4						6.6
Other assets			—						0.7
Total assets			16.4						27.1
Liabilities
Accounts payable			0.1						0.9
Other accrued liabilities			0.3						0.6
Other liabilities			—						0.5
Total liabilities			0.4						2.0
Net Assets Acquired			$	16.0					$	25.1

The following table summarizes the aggregate consideration paid and the estimated fair value of assets acquired and liabilities assumed as of the acquisition date (dollars in millions):

Assets
Cash and equivalents			$	8.3
Accounts receivable			45.8
Other current assets			0.3
Property and equipment, net			9.9
Goodwill			39.2
Intangible assets, net			42.2
Other assets			0.8
Total assets			146.5
Liabilities
Accounts payable			8.3
Other accrued liabilities			2.6
Income taxes payable			4.4
Total liabilities			15.3
Net Assets Acquired			$	131.2

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The Company recorded intangible assets based on its preliminary estimate of fair value which consisted of the following (dollars in millions):

			Estimated Useful Life (in years)						Intangible Assets Acquired
Customer relationships			12.0						$	10.4
Backlog intangibles			0.8						0.5
Trade names			10.0						1.1
Total intangible assets acquired									$	12.0

The Company recorded intangible assets based on its preliminary estimate of fair value which consisted of the following (dollars in millions):

			Estimated Useful Life (in years)						Intangible Assets Acquired
Customer relationships			12.0						$	26.8
Backlog intangibles			3.0						11.6
Trade names			10.0						3.8
Total intangible assets acquired									$	42.2

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- References

No definition available.

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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

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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

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