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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2021

Business Combinations [Abstract]

Purchase Price Allocation to the Fair Value of Assets Acquired and Liabilities Assumed

The following table presents the preliminary allocation of the consideration given to the fair values of the assets acquired and liabilities assumed at the date of the PowerA Acquisition:

(in millions)			At December 17, 2020
Calculation of Goodwill:
Purchase price, net of working capital adjustment			$	321.8
Fair value of contingent consideration			$	18.2
Plus fair value of liabilities assumed:
Accrued liabilities			9.2
Fair value of liabilities assumed			$	9.2
Less fair value of assets acquired:
Inventory			28.7
Property and equipment			0.2
Identifiable intangibles			239.7
Other assets			13.2
Fair value of assets acquired			$	281.8
Goodwill			$	67.4

Business Acquisition, Pro Forma Information

Had the PowerA Acquisition occurred on January 1, 2019, unaudited pro forma consolidated results of the Company for the three and six months ended June 30, 2021 and 2020 would have been as follows:

			Three Months Ended June 30,												Six Months Ended June 30,
(in millions)			2021						2020						2021						2020
Net sales			$	517.8					$	409.5					$	928.3					$	824.1
Net income			48.6						8.7						28.2						16.7
Net income per diluted common share			$	0.51					$	0.09					$	0.29					$	0.17

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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- References

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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
-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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