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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

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- References

No definition available.

+ Details

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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

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