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Acquisitions (Tables)

6 Months Ended

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

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

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-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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- 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
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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
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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
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