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Acquisitions (Tables) | 6 Months Ended
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Jul. 29, 2023
Business Combinations [Abstract] |
Summary of Purchase Price of Acquisition Allocated on Basis of Fair Value | The following table sets forth the final purchase price allocation of the Astro Machine acquisition for the estimated fair value of the net assets acquired and liabilities assumed as of the date of acquisition:
(In thousands) |  |  |
Cash |  | $ | 91 |
Accounts Receivable |  |  | 3,393 |
Inventory |  |  | 5,715 |
Property, Plant and Equipment |  |  | 4,200 |
Identifiable Intangible Assets |  |  | 3,480 |
Goodwill |  |  | 2,730 |
Accounts Payable and Other Current Liabilities |  |  | (2,484) |
Total Purchase Price |  | $ | 17,125 |
Summary of Fair Value of the Acquired Identifiable Intangible Assets and Related Estimated Useful Lives | The following table sets forth the fair value of the acquired identifiable intangible assets and related estimated useful lives:
(In thousands) |  | Fair Value |  | Useful Life (years) |
Customer Relations |  | $ | 3,060 |  |  | 5 |
Trademarks/Tradenames |  |  | 420 |  |  | 5 |
Total |  | $ | 3,480 |  |  |  |
Summary of Revenue and Earnings Before Taxes | The amounts of revenue and earnings before taxes attributable to Astro Machine and included in our consolidated statement of income for the three and six months ended July 29, 2023 were as follows:
(In thousands) |  | Three -Months Ended July 29, 2023 |  | Six-Months Ended July 29, 2023 |
Revenue |  | $ | 4,897 |  | $ | 9,127 |
Earnings before Taxes |  | $ | 704 |  | $ | 1,393 |
Summary of Acquired Identifiable Intangible Asset | The acquired identifiable intangible asset is as follows:
(In thousands) |  | Fair Value |  | Useful Life (Years) |
Customer Contract Relationships |  | $ | 530 |  |  | 20 |

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- 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
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482665/350-30-50-1 + Details
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- 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
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