Business Combinations (Tables)

12 Months Ended

Apr. 30, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of acquisitions completed

The impact of these acquisitions is not material to the Company’s Consolidated Financial Statements.

Company Name	Form of Acquisition	Date of Acquisition
Construction Supply of Southwest Florida, Inc.	Purchase of net assets	June 1, 2022
Tanner Bolt and Nut, Inc.	Purchase of net assets	December 30, 2022
Blair Building Materials, Inc.	Purchase of net assets	April 3, 2023
Engler, Meier and Justus, Inc.	Purchase of 100% of outstanding common stock	April 3, 2023

Schedule of preliminary allocation of the consideration transferred

The following table summarizes the preliminary acquisition accounting for the Company's fiscal 2023 acquisitions based on currently available information:

	Preliminary Acquisition Accounting
	(in thousands)
Trade accounts and notes receivable	$	20,267
Inventories	16,768
Prepaid and other current assets	542
Property and equipment	4,689
Operating lease right-of-use assets	6,894
Customer relationships	14,039
Tradenames	4,614
Goodwill	10,697
Accounts payable and accrued expenses	(9,091)
Operating lease liabilities	(6,894)
Deferred income taxes	(793)
Fair value of consideration transferred	$	61,732

The following table summarizes the acquisition accounting:

	Initial Acquisition Accounting		Adjustments		Final Acquisition Accounting
	(in thousands)
Trade accounts and notes receivable	$	27,081	$	(799)	$	26,282
Inventories	28,900		(948)		27,952
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		2,625		15,976
Accounts payable and accrued expenses	(14,375)		(405)		(14,780)
Operating lease liabilities	(15,819)		—		(15,819)
Fair value of consideration transferred	$	139,635	$	473	$	140,108

The following table summarizes the acquisition accounting:

	Initial Acquisition Accounting		Adjustments		Final Acquisition Accounting
	(in thousands)
Cash and cash equivalents	$	10,692	$	—	$	10,692
Trade accounts and notes receivable	9,955		(54)		9,901
Inventories	15,464		870		16,334
Prepaid and other current assets	1,941		—		1,941
Property and equipment	6,165		—		6,165
Operating lease right-of-use assets	8,238		(235)		8,003
Customer relationships	63,000		(3,000)		60,000
Tradenames	53,000		(4,000)		49,000
Patents	3,000		—		3,000
Goodwill	104,557		2,822		107,379
Accounts payable and accrued expenses	(14,827)		3,170		(11,657)
Deferred tax liability	(28,440)		2,355		(26,085)
Operating lease liabilities	(8,238)		235		(8,003)
Fair value of consideration transferred	$	224,507	$	2,163	$	226,670

The following table summarizes the acquisition accounting:

	Preliminary Acquisition Accounting		Adjustments		Final Acquisition Accounting
	(in thousands)
Cash	$	4,179	$	—	$	4,179
Trade accounts and notes receivable	8,325		(24)		8,301
Inventories	5,075		(8)		5,067
Prepaid and other current assets	675		—		675
Property and equipment	2,721		—		2,721
Operating lease right-of-use assets	1,103		—		1,103
Customer relationships	20,926		(476)		20,450
Tradenames	2,498		—		2,498
Goodwill	9,084		—		9,084
Liabilities assumed	(12,282)		(45)		(12,327)
Deferred income taxes	(2,830)		—		(2,830)
Fair value of consideration transferred	$	39,474	$	(553)	$	38,921

Schedule of pro forma information

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

	Year Ended
	April 30, 2022
	(in thousands)
Net sales	$	4,718,531
Net income	281,151