Acquisitions (Tables)

6 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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

	Purchase Price Allocation
Receivables	$	8.1
Inventory	22.0
Goodwill	289.0
Intangible assets	313.4
All other assets	10.2
Total assets acquired	642.7
Less: Deferred tax liability	(21.9)
Less: Liabilities assumed	(12.3)
Net assets acquired	$	608.5
	Purchase Consideration
Cash consideration, net of cash acquired	$	565.5
Contingent consideration	43.0
Total purchase consideration, net of cash acquired	$	608.5

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

	Purchase Price Allocation
Receivables	$	8.0
Goodwill	132.8
Intangible assets	47.2
All other assets	1.4
Total assets acquired	189.4
Less: Liabilities assumed	(6.2)
Net assets acquired	$	183.2
	Purchase Consideration
Total purchase consideration, net of cash acquired	$	183.2

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

	Purchase Price Allocation
Receivables	$	23.8
Inventories	17.7
Property	27.5
Goodwill	111.3
Other intangible assets	54.1
All other assets	21.0
Total assets acquired	255.4
Less: Liabilities assumed	(12.6)
Less: Deferred income taxes	(56.6)
Net assets acquired, excluding cash	$	186.2
	Purchase Consideration
Total purchase consideration, net of cash acquired	$	186.2

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

The following table presents the fair value of the contingent consideration in the Consolidated Balance Sheet (in millions):

	Period ended February 29, 2024		Period ended February 28, 2025		Total
Contingent consideration as of December 31, 2023	$	17.5	$	25.5	$	43.0
Adjustment for earnout achieved for first performance period	(7.7)		—		(7.7)
Adjustment to fair value	—		0.7		0.7
Contingent consideration as of March 31, 2024	$	9.8	$	26.2	$	36.0