Acquisitions (Tables)

12 Months Ended

Jun. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Business Acquisitions, by Acquisition

A summary of the preliminary purchase price allocation is as follows:

Purchase Price Allocation
(Amounts in Thousands)
Cash	$	5,768
Receivables	2,814
Inventories	15,718
Other current assets	700
Net property and equipment	975
Other intangible assets	52,394
Goodwill	70,801
Right-of-use operating lease assets	5,103
Other long-term assets	4,161
Deferred tax assets	5,836
Total Assets	$	164,270
Current maturities of long-term debt	1,252
Accounts payable	7,715
Customer deposits	2,045
Current portion of operating lease liability	1,937
Accrued expenses	5,260
Long-term debt, less current maturities	1,252
Long-term operating lease liability	2,565
Other long-term liabilities	80
Total Liabilities	$	22,106
Net Assets	$	142,164

Schedule of Business Acquisitions by Acquisition, Contingent Consideration

Consideration
(Amounts in Thousands)
Cash	$	110,374
Contingent earn-out — fair value at acquisition date	31,790
Fair value of total consideration	$	142,164
Less: Acquired cash	5,768
Total consideration less acquired cash	$	136,396

Schedule of Goodwill

The following summarizes goodwill activity related to the acquisition:

Goodwill
(Amounts in Thousands)
Goodwill - June 30, 2020	$	—
Goodwill - at acquisition date	71,798
Adjustments to purchase price allocation	(997)
Goodwill - June 30, 2021	$	70,801

Business Acquisition, Pro Forma Information

Pro Forma Information

The following unaudited pro forma financial information summarizes the combined results of operations for Kimball International, Inc. and Poppin, Inc. as if the companies were combined as of the beginning of fiscal year 2020:

	(unaudited)
	Year Ended
	June 30
(Amounts in Thousands, Except Per Share Data)	2021		2020
Net Sales	$	589,157	$	801,492
Net Income	4,210		28,165
Diluted Earnings Per Share of Common Stock	$	0.12	$	0.76