Acquisitions (Tables)

6 Months Ended

Aug. 01, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of allocation of transaction price to the fair value of identifiable assets acquired and liabilities assumed

The following represents the final allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the R&B Acquisition.

	R&B Acquisition
Cash	$	2.7
Accounts receivable	25.0
Inventories	19.8
Intangible assets	114.5
Goodwill	88.4
Operating lease right-of-use assets	9.5
Other assets, current and non-current	10.7
Total assets acquired	270.6
Accounts payable	17.5
Deferred income taxes	31.2
Operating lease liabilities	9.5
Other liabilities, current and non-current	3.6
Net assets acquired	$	208.8

Schedule of reconciliation of total consideration to net assets acquired

The following reconciles the total consideration to net assets acquired:

	R&B Acquisition
Total consideration, net of cash	$	207.4
Plus: Cash acquired in acquisition	2.7
Less: Working capital adjustment	(1.3)
Total consideration	208.8
Less: non-cash contingent consideration	—
Net assets acquired	$	208.8

Schedule of pro forma information

The following pro forma information has been prepared for comparative purposes only and is not necessarily indicative of the results of operations as they would have been had the R&B Acquisition occurred on the assumed dates, nor is it necessarily an indication of future operating results. In addition, the pro forma information does not reflect the cost of any integration activities, benefits from any synergies that may be derived from the R&B Acquisition or revenue growth that may be anticipated.

	Six Months Ended
	August 2, 2020
Net sales	$	1,817.0
Net income	$	10.1

Schedule of intangible assets acquired and assumptions utilized in the valuation

A summary of the intangible assets acquired and assumptions utilized in the valuation for the R&B Acquisition is as follows:

	Intangible Asset Amount		Amortization Period	Discount Rate		Attrition Rate
R&B Acquisition
Customer relationships	$	113.7	15 years	10.0	%	7.5	%
Non-compete agreement	0.4		5 years	10.0	%	N/A
Trademark	0.4		1 year	10.0	%	N/A

Schedule of acquisition related costs

Acquisition-related costs, which are included within selling, general and administrative expenses, for the R&B Acquisition were as follows:

	Three Months Ended				Six Months Ended
	August 1, 2021		August 2, 2020		August 1, 2021		August 2, 2020
R&B Acquisition	$	—	$	0.2	$	—	$	1.4