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Acquisitions (Tables)

3 Months Ended

Jan. 03, 2021

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The calculation of purchase price and purchase price allocation is as follows:

(in millions)						Amount
Cash paid						$	187.7
Debt assumed						51.0
Cash consideration						$	136.7

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

(in millions)						Purchase Price Allocation
Cash and cash equivalents						$	6.9
Trade receivables, net						16.7
Other receivables						1.9
Inventories						16.3
Prepaid expenses and other current assets						0.2
Property, plant and equipment, net						3.0
Operating lease assets						0.1
Deferred charges and other						1.0
Goodwill						90.7
Intangible assets, net						88.6
Accounts payable						(9.2)
Accrued wages and salaries						(1.5)
Other current liabilities						(7.1)
Long-term debt, net of current portion						(51.0)
Long-term operating lease liabilities						(0.1)
Deferred income taxes						(18.0)
Other long-term liabilities						(1.8)
Net assets acquired						$	136.7

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

The values allocated to intangible assets and the weighted average useful lives are as follows:

(in millions)

Carrying Amount

Weighted Average Useful Life (Years)

Tradenames

$

74.3

Indefinite

Customer relationships

14.3

12 years

Total intangibles acquired

$

88.6

X

- References

No definition available.

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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.

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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 http://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 http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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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
-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

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