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Acquisition (Tables)

6 Months Ended

Oct. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of Net Assets Acquired

The following table provides a summary of the net assets acquired:

						(in thousands)
Current assets (1)						$	19,932
Long-term assets						1,496
Intangible assets (2)						16,400
Current liabilities						6,248
Long-term liabilities						566
Net assets acquired						31,014
Purchase price						99,322
Goodwill (3)						$	68,308

________________

(1)			Included in current assets is acquired receivables in the amount of $19.4 million.
(2)			Acquisition-related intangible assets acquired in connection with the acquisition consists of customer relationships and tradenames of $15.3 million, and $1.1 million, respectively, with weighted-average useful lives from the date of purchase of seven years, and two years, respectively.
(3)			Tax deductible goodwill from the acquisition was $67.2 million as of October 31, 2022.

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- References

No definition available.

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- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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