Subsequent Event

12 Months Ended

Sep. 30, 2022

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On October 31, 2022, we acquired CUBIC, a company that specializes in modular systems for the construction of electrical panels, headquartered in Bronderslev, Denmark. As of the acquisition date, we will record a preliminary purchase price allocation for the assets acquired and liabilities assumed in connection with the acquisition based on their estimated fair values as of the acquisition date.

The preliminary purchase price allocation is as follows (in millions):

	Purchase Price Allocation
Net current and other tangible assets, net of cash acquired	$	64.9
Goodwill and other intangible assets	103.0
Total assets acquired	167.9
Less: Liabilities assumed	(33.2)
Net assets acquired	$	134.7
	Purchase Consideration
Total purchase consideration, net of cash acquired	$	134.7

We will assign the full amount of goodwill to our Intelligent Devices segment. We do not expect the goodwill to be deductible for tax purposes.

The allocation of the purchase price to identifiable assets is based on preliminary information. We have not completed our analysis of identifying and estimating the fair value of identifiable intangible assets acquired. The allocation of the purchase price to identifiable assets above is based on the preliminary valuations performed to determine the fair value of the net assets as of the acquisition date. The measurement period for the valuation of net assets acquired ends as soon as information on the facts and circumstances that existed as of the acquisition date becomes available, but not to exceed 12 months following the acquisition date. Adjustments in purchase price allocations may require a change in the amounts allocated to net assets acquired during the periods in which the adjustments are determined.