Acquisitions (Tables)

6 Months Ended

Jul. 27, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the aggregate consideration paid and the estimated fair value of assets acquired and liabilities assumed for each of the acquisitions described above as of the respective acquisition dates (dollars in millions):


	First quarter of fiscal 2025		Second quarter of fiscal 2025
Assets
Cash and equivalents	$	3.2	$	4.1
Accounts receivable	2.2		3.6
Other current assets	—		0.8
Property and equipment	2.4		5.9
Goodwill	3.2		5.4
Intangible assets	5.4		6.6
Other assets	—		0.7
Total assets	16.4		27.1

Liabilities
Accounts payable	0.1		0.9
Other accrued liabilities	0.3		0.6
Other liabilities	—		0.5
Total liabilities	0.4		2.0

Net Assets Acquired	$	16.0	$	25.1

The following table summarizes the aggregate consideration paid and the estimated fair value of assets acquired and liabilities assumed as of the acquisition date (dollars in millions):


Assets
Cash and equivalents	$	8.3
Accounts receivable	45.8
Other current assets	0.3
Property and equipment, net	9.9
Goodwill	39.2
Intangible assets, net	42.2
Other assets	0.8
Total assets	146.5

Liabilities
Accounts payable	8.3
Other accrued liabilities	2.6
Income taxes payable	4.4
Total liabilities	15.3

Net Assets Acquired	$	131.2

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The Company recorded intangible assets based on its preliminary estimate of fair value which consisted of the following (dollars in millions):


	Estimated Useful Life (in years)	Intangible Assets Acquired
Customer relationships	12.0	$	10.4
Backlog intangibles	0.8	0.5
Trade names	10.0	1.1
Total intangible assets acquired		$	12.0

The Company recorded intangible assets based on its preliminary estimate of fair value which consisted of the following (dollars in millions):


	Estimated Useful Life (in years)	Intangible Assets Acquired
Customer relationships	12.0	$	26.8
Backlog intangibles	3.0	11.6
Trade names	10.0	3.8
Total intangible assets acquired		$	42.2