XML 47 R35.htm IDEA: XBRL DOCUMENT
v3.24.3

Business Combinations and Asset Acquisitions (Tables) | 3 Months Ended
--- | ---
Aug. 31, 2024
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary purchase price allocation of fair values of the assets acquired and liabilities assumed at the date of acquisition:
Cash and cash equivalents | $ | 17.5 |  |  |  |  |  |  |  |
Accounts receivable |  | 15.9 |  |  |  |  |  |  |  |
Investment in film and television programs |  | 42.9 |  |  |  |  |  |  |  |
Property, plant and equipment (1) |  | 6.0 |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | 5.8 |  |  |  |  |  |  |  |
Other Intangible assets: |  |  |  |  |  |  |  |  |
Existing content/IP |  | 16.0 |  |  |  |  |  |  |  |
Customer contracts/relationships |  | 51.5 |  |  |  |  |  |  |  |
Tradenames |  | 16.5 |  |  |  |  |  |  |  |
Internally developed software |  | 1.3 |  |  |  |  |  |  |  |
Other assets (2) |  | 35.9 |  |  |  |  |  |  |  |
Total assets acquired |  | 209.3 |  |  |  |  |  |  |  |
Accounts payable |  | 2.3 |  |  |  |  |  |  |  |
Other accrued expenses |  | 16.4 |  |  |  |  |  |  |  |
Deferred revenue |  | 10.9 |  |  |  |  |  |  |  |
Film related obligations |  | 34.9 |  |  |  |  |  |  |  |
Operating lease liabilities |  | 7.8 |  |  |  |  |  |  |  |
Other liabilities |  | 13.2 |  |  |  |  |  |  |  |
Total liabilities assumed |  | 85.5 |  |  |  |  |  |  |  |
Preliminary fair value of net assets acquired |  | 123.8 |  |  |  |  |  |  |  |
Goodwill |  | 70.1 |  |  |  |  |  |  |  |
Preliminary purchase price consideration | $ | 193.9 |  |  |  |  |  |  |  |
(1) Includes a preliminary step-up adjustment of $1.8. (2) Includes $31.9 of receivables related to government tax incentives.
Business Acquisition, Pro Forma Information | The following table summarizes the unaudited pro-forma consolidated results of operations for the three months ended August 31, 2024 and 2023 as if the acquisition had occurred on June 1, 2023, the beginning of fiscal 2024:
| Three months ended |
| August 31, |
| 2024 | 2023 |  |
Revenues | $ | 242.9 |  |  | $ | 248.3 |  |  |  |  |  |  |  |
Net income (loss) |  | (64.3) |  |  |  | (78.9) |  |  |  |  |  |  |  |

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 Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration