Drybar Products Acquisition (Tables)

12 Months Ended

Feb. 29, 2020

Schedule of net assets recorded upon acquisition

The following schedule presents the net assets recorded upon acquisition of Drybar Products at January 23, 2020:



(in thousands)
Assets:
Receivables	$	7,710
Inventory	16,603
Prepaid expenses and other current assets	190
Property and equipment	1,472
Goodwill	172,933
Trade names - definite	30,000
Other intangible assets - definite	33,000
Subtotal - assets	261,908
Liabilities:
Accounts payable	1,948
Accrued expenses	4,099
Subtotal - liabilities	6,047
Net assets recorded	$	255,861

Schedule of supplemental pro forma impact on consolidated condensed statements of income

The following supplemental unaudited pro forma information presents our financial results as if the Drybar Products acquisition had occurred at the beginning of the fiscal years presented. This supplemental pro forma information has been prepared for comparative purposes and would not necessarily indicate what may have occurred as if the acquisition had been completed on March 1, 2018, and this information is not intended to be indicative of future results:



As if the acquisition had been completed on March 1. 2018 (in thousands, except earnings per share data)	Fiscal Years Ended the Last Day of February,
	2020		2019
Sales revenue, net	$	1,773,592	$	1,621,117
Income from continuing operations	162,114		179,550

Earnings per share from continuing operations:
Basic	$	6.45	$	6.89
Diluted	$	6.40	$	6.83

The impact of the Drybar Products acquisition on our consolidated statements of income for fiscal 2020 is as follows:



January 23, 2020 (acquisition date) though February 29, 2020 (in thousands, except earnings per share data)	Fiscal Year Ended February 29, 2020
Sales revenue, net	$	6,039
Income from continuing operations	1,483

Earnings per share from continuing operations:
Basic	$	0.06
Diluted	$	0.06