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ACQUISITIONS (Tables)

12 Months Ended

Sep. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Purchase Price Allocation

The calculation of the purchase price is as follows:

(in millions)						Purchase Price
Cash paid at closing						$	314.6
Cash received for purchase price settlement						(42.2)
Contingent consideration						30.0
Total purchase price						$	302.4

Schedule of Assets Acquired and Liabilities Assumed

The following table summarizes the final fair value of assets acquired and liabilities assumed as of the date of acquisition:

(in millions)						Purchase Price Allocation
Cash and cash equivalents						$	0.3
Trade receivables, net						45.7
Other receivables						0.4
Inventories						102.0
Prepaid expenses and other current assets						4.4
Property, plant and equipment, net						0.4
Operating lease assets						23.3
Goodwill						111.1
Intangible assets, net						95.0
Deferred charges and other						4.8
Accounts payable						(52.5)
Accrued wages and salaries						(0.6)
Other current liabilities						(20.8)
Long-term operating lease liabilities						(11.1)
Net assets acquired						$	302.4

Schedule of Intangible Assets and Weighted Average Useful Lives

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

(in millions)

Carrying Amount

Weighted Average Useful Life (Years)

Tradename

$

66.0

Indefinite

Customer relationships

29.0

13 years

Total intangibles acquired

$

95.0

Schedule of Pro Forma Information

The following pro forma financial information summarizes the combined results of operations for the Company and the acquired Tristar Business as though the companies were combined as of the beginning of the Company’s fiscal 2021. The unaudited pro forma financial information was as follows:

(in millions)						2022						2021
Proforma net sales						$	3,332.6					$	3,588.1
Proforma net (loss) income from continuing operations						(80.4)						51.4
Proforma net income						69.3						225.7
Proforma diluted earnings from continuing operations per share						(1.96)						1.19
Proforma diluted earnings per share						1.69						5.22

X

- 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

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Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination.

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