Business Combinations (Tables)

9 Months Ended

Jan. 31, 2022

Business Combinations [Abstract]

Summary of the components of the preliminary consideration

The following table summarizes the components of the preliminary consideration:

	(in thousands)
Cash consideration	$	126,609
Holdback liability	13,500
Total preliminary consideration transferred	$	140,109

Schedule of preliminary allocation of the consideration transferred

The following table summarizes the preliminary acquisition accounting for this acquisition, and subsequent measurement period adjustments recorded, based on currently available information:

	July 1, 2021		Adjustments		January 31, 2022
	(in thousands)
Trade accounts and notes receivable	$	27,081	$	(799)	$	26,282
Inventories	28,900		(145)		28,755
Prepaid and other current assets	228		—		228
Property and equipment	16,687		—		16,687
Operating lease right-of-use assets	20,782		—		20,782
Customer relationships	51,500		—		51,500
Tradenames	11,300		—		11,300
Goodwill	13,351		1,363		14,714
Accounts payable and accrued expenses	(14,375)		55		(14,320)
Operating lease liabilities	(15,819)		—		(15,819)
Fair value of consideration transferred	$	139,635	$	474	$	140,109

The following table summarizes the preliminary acquisition accounting for this acquisition based on currently available information:

	Preliminary Acquisition Accounting
	(in thousands)
Cash and cash equivalents	$	10,692
Trade accounts and notes receivable	9,955
Inventories	15,464
Prepaid and other current assets	1,941
Property and equipment	6,165
Operating lease right-of-use assets	8,238
Customer relationships	63,000
Tradenames	53,000
Patents	3,000
Goodwill	104,557
Accounts payable and accrued expenses	(14,827)
Deferred tax liability	(28,440)
Operating lease liabilities	(8,238)
Fair value of consideration transferred	$	224,507

Schedule of pro forma information

The following table presents the unaudited pro forma consolidated net sales and net income for the Company for the periods indicated:

	Three Months Ended January 31,				Nine Months Ended January 31,
	2022		2021		2022		2021
	(in thousands)
Net sales	$	1,160,211	$	813,078	$	3,429,878	$	2,571,616
Net income	61,336		15,303		203,721		75,924