Acquisitions (Tables)

9 Months Ended

Nov. 02, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

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

The following table represents the preliminary allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the Fiscal 2025 Acquisition and final allocation of the transaction price to the fair value of identifiable assets acquired and liabilities assumed in the Fiscal 2024 Acquisitions. The allocations are preliminary for items including review of working capital balances and the completion of intangible asset valuations.

	Fiscal 2025 Acquisition		Fiscal 2024 Acquisitions (1)
Cash	$	—	$	31
Receivables	9		94
Inventories	6		111
Intangible assets	14		277
Goodwill	20		325
Property, plant and equipment	1		16
Operating lease right-of-use assets	1		22
Other assets, current and non-current	—		2
Total assets acquired	51		878
Accounts payable	3		42
Deferred income taxes	—		41
Contingent consideration	14		5
Operating lease liabilities, current and non-current	1		22
Deferred consideration	—		8
Other liabilities, current and non-current	—		7
Net assets acquired	$	33	$	753

(1) Amounts include the purchase price allocation of Dana Kepner net assets of $263 million to goodwill, $184 million to intangible assets, $89 million to net working capital, $29 million to cash and $8 million to fixed assets. Additionally, includes a deferred income tax liability of $36 million for the Dana Kepner acquisition.

Schedule of reconciliation of total consideration to net assets acquired

The net outflow of cash in respect of the purchase of businesses is as follows:

	Fiscal 2025 Acquisition		Fiscal 2024 Acquisitions
Net assets acquired	$	33	$	753
Less: Cash acquired in acquisition	—		(31)
Plus: Contingent consideration	14		—
Total consideration	47		722
Less: Contingent consideration	$	(14)	—
Total consideration, net of cash; investing cash outflow	$	33	$	722

Schedule of intangible assets acquired and assumptions utilized in the valuation

A summary of the intangible asset acquired and assumptions utilized in the valuation for the Fiscal 2025 Acquisition and Fiscal 2024 Acquisitions is as follows:

	Intangible Asset Amount		Weighted Average Amortization Period	Weighted Average Discount Rate		Weighted Average Attrition Rate
Customer Relationships
Fiscal 2025 Acquisition	$	12	10 years	14.3	%	10.0	%
Fiscal 2024 Acquisitions (1)	272		10 years	13.5	%	12.4	%
Other Intangible Assets
Fiscal 2025 Acquisition	$	2	7 years	14.3	%	N/A
Fiscal 2024 Acquisitions	5		5 years	13.6	%	N/A

(1) Customer relationships acquired and assumptions utilized in the valuation for the Dana Kepner acquisition were as follows: $181 million customer relationship intangible asset, 10 years amortization period, 13.0% discount rate and 12.5% attrition rate.

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 Dana Kepner acquisition occurred on the assumed date, 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 Dana Kepner acquisition or revenue growth that may be anticipated.

	Nine Months Ended
	October 27, 2024
Net sales	$	5,772
Net income	368