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Acquisitions (Tables) | 9 Months Ended
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Jun. 30, 2023
Business Combinations [Abstract] |
Summary of Purchase Price Allocation of Purchase of Acquired Identifiable Assets, Liabilities Assumed and Goodwill | The table below outlines the purchase price allocation of the purchase for Flooring Liquidators to the acquired identifiable assets, liabilities assumed and goodwill (in $000’s):
Purchase price |  |  | $ | 78,700 |
Accounts payable |  |  | 5,189 |
Accrued liabilities |  |  | 11,484 |
Debt |  |  | 60 |
Total liabilities assumed |  |  | 16,733 |
Total consideration |  |  | 95,433 |
Cash |  |  | 7,871 |
Accounts receivable |  |  | 4,824 |
Inventory |  |  | 19,102 |
Property, plant and equipment |  |  | 4,678 |
Intangible assets |  |  |
Trade names | $ | 13,275 |  |  |
Customer relationships | 7,700 |  |  |
Non-compete agreements | 1,625 |  |  |
Other | 49 |  |  |
Subtotal intangible assets |  |  | 22,649 |
Other |  |  | 5,701 |
Total assets acquired |  |  | 64,825 |
Total goodwill |  |  | $ | 30,608 |
The table below outlines the purchase price allocation of the purchase for Cal Coast to the acquired identifiable assets (in $000’s):
Property, plant and equipment | $ | 35 |
Intangible assets |
Customer relationships | 785 |
Trade name | 425 |
Non-compete agreement | 55 |
Total intangible assets | 1,265 |
Total assets acquired | $ | 1,300 |
The table below outlines the purchase price allocation of the purchase for Kinetic to the acquired identifiable assets, liabilities assumed and goodwill as of June 30, 2023 (in $000’s):
Total purchase price | $ | 24,732 |
Accounts payable | 571 |
Accrued liabilities | 1,848 |
Total liabilities assumed | 2,419 |
Total consideration | 27,151 |
Cash | 287 |
Accounts receivable | 3,073 |
Inventory | 6,429 |
Property, plant and equipment | 12,855 |
Intangible assets | 1,000 |
Other assets | 480 |
Total assets acquired | 24,124 |
Total goodwill | $ | 3,027 |
The table below outlines the purchase price allocation of the purchase for Better Backers to the acquired identifiable assets (in $000’s):
Total purchase price | $ | 3,166 |
Inventory | 748 |
Property, plant and equipment | 2,118 |
Intangible assets | 300 |
Total assets acquired | 3,166 |
Summary of Summary of Proforma Information for the Company | The table below presents selected proforma information for the Company for the nine-month period ended June 30, 2023, and the three and nine month period ended June 30, 2022 assuming that the acquisition had occurred on October 1, 2021 (the beginning of the Company’s 2022 fiscal year), pursuant to ASC 805-10-50 (in $000’s). This proforma information does not purport to represent what the actual results of operations of the Company would have been had the acquisition occurred on that date, nor does it purport to predict the results of operations for future periods.
| As Reported |  | Adjustments |  | Proforma
| Live Unaudited Three Months Ended June 30, 2022 |  | Flooring Liquidators Unaudited Three Months Ended June 30, 2022 |  | Adjustments(1) |  | Live for the Three Months Ended June 30, 2022
Net revenue | $ | 68,269 |  |  | $ | 32,525 |  |  |  |  | $ | 100,794 |
Net income | $ | 3,472 |  |  | $ | 2,562 |  |  | $ | (2,008) |  |  | $ | 4,026 |
Earnings per basic common share | $ | 1.12 |  |  |  |  |  |  | $ | 1.30 |
Earnings per basic diluted share | $ | 1.11 |  |  |  |  |  |  | $ | 1.29 |
| As Reported |  | Adjustments |  | Proforma
| Live Unaudited Nine Months Ended June 30, 2023 |  | Flooring Liquidators Unaudited Nine Months Ended June 30, 2023 (2) |  | Adjustments(1) |  | Live for the Nine Months Ended June 30, 2023
Net revenue | $ | 251,624 |  |  | $ | 37,702 |  |  |  |  | $ | 289,326 |
Net income | 4,462 |  |  | $ | (1,033) |  |  | $ | (2,226) |  |  | $ | 1,203 |
Earnings per basic common share | $ | 1.43 |  |  |  |  |  |  | $ | 0.39 |
Earnings per basic diluted share | $ | 1.42 |  |  |  |  |  |  | $ | 0.38 |
| As Reported |  | Adjustments |  | Proforma
| Live Unaudited Nine Months Ended June 30, 2022 |  | Flooring Liquidators Unaudited Nine Months Ended June 30, 2022 |  | Adjustments(1) |  | Live for the Nine Months Ended June 30, 2022
Net revenue | $ | 213,133 |  |  | $ | 92,375 |  |  |  |  | $ | 305,508 |
Net income | $ | 25,376 |  |  | $ | 7,783 |  |  | $ | (5,826) |  |  | $ | 27,333 |
Earnings per basic common share | $ | 8.11 |  |  |  |  |  |  | $ | 8.74 |
Earnings per basic diluted share | $ | 8.01 |  |  |  |  |  |  | $ | 8.62 |
(1)Adjustments are related to adjustments made for the following: •Amortization expense of definite-lived intangible assets has been adjusted based on the preliminary fair value at the acquisition date. •Interest expense has been adjusted to include proforma interest expense that would have been incurred as a result of the acquisition financing obtained by the Company. •Elimination of revenues and costs of revenues associated with sales between Flooring Liquidators and the Company prior to acquisition. (2) Amounts presented are for predecessor period. The table below presents selected proforma information for the Company for the three and nine-month periods ended June 30, 2022, assuming that the acquisition had occurred on October 1, 2021 (the beginning of the Company’s 2022 fiscal year), pursuant to ASC 805-10-50 (in $000's). This proforma information does not purport to represent what the actual results of operations of the Company would have been had the acquisition occurred on that date, nor does it purport to predict the results of operations for future periods.
| As Reported |  | Adjustments |  | Proforma
| Live Unaudited Three Months Ended June 30, 2022 |  | Kinetic Unaudited Three Months Ended June 30, 2022 |  | Adjustments(1) |  | Live for the Three Months Ended June 30, 2022
Net revenue | $ | 68,269 |  |  | $ | 5,696 |  |  |  |  | $ | 73,965 |
Net income | $ | 3,472 |  |  | $ | 712 |  |  | $ | (69) |  |  | $ | 4,115 |
Earnings per basic common share | $ | 1.12 |  |  |  |  |  |  | $ | 1.33 |
Earnings per basic diluted share | $ | 1.11 |  |  |  |  |  |  | $ | 1.31 |
| As Reported |  | Adjustments |  | Proforma
| Live Unaudited Nine Months Ended June 30, 2022 |  | Kinetic Unaudited Nine Months Ended June 30, 2022 |  | Adjustments(1) |  | Live for the Nine Months Ended June 30, 2022
Net revenue | $ | 213,133 |  |  | $ | 15,418 |  |  |  |  | $ | 228,551 |
Net income | $ | 25,376 |  |  | $ | 1,286 |  |  | $ | (207) |  |  | $ | 26,455 |
Earnings per basic common share | $ | 8.11 |  |  |  |  |  |  | $ | 8.46 |
Earnings per basic diluted share | $ | 8.01 |  |  |  |  |  |  | $ | 8.35 |
(1) Adjustments are related to adjustments made for the following: • Amortization expense of definite-lived intangible assets has been adjusted based on the preliminary fair value at the acquisition date. • Interest expense has been adjusted to include proforma interest expense that would have been incurred as a result of the acquisition financing obtained by the Company. • Certain other expenses have been adjusted to reflect the post-acquisition operating environment.

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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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