Acquisition (Tables)

3 Months Ended

Oct. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed at the date of the acquisition:

Cash and cash equivalents	$	7,667
Accounts receivable, net	24,325
Inventories	21,751
Prepaid expenses and other current assets	563
Property, plant and equipment — net	2,538
Goodwill	71,790
Other intangible assets	65,798
Operating lease assets	6,981
Other assets	1,061
Accounts payable	(17,813)
Accrued compensation and benefits	(9,347)
Taxes, other than income taxes	(6,857)
Accrued income taxes	(1,855)
Other current liabilities	(18,157)
Operating lease liabilities	(6,980)
Other liabilities	(6,908)
Net assets acquired	$	134,557
Less: cash acquired	(7,667)
Fair value of total consideration	$	126,890

The final purchase price allocation is subject to post-closing adjustments pursuant to the terms of the securities sale and purchase agreement, as well as the finalization of certain accounts, primarily intangible assets and deferred tax adjustments. The goodwill for this acquisition is not deductible for tax purposes.

Business Acquisition, Pro Forma Information

The following table presents the unaudited pro forma operating results for the three months ended October 31, 2024 and 2023, reflecting the acquisition of Gravotech as if it had occurred at the beginning of fiscal year 2024. The unaudited pro forma operating results for the three months ended October 31, 2024 do not contain any adjustments to the accompanying condensed consolidated financial statements. The unaudited pro forma operating results for the three months ended October 31, 2023 include Gravotech’s normal operating results and pro forma adjustments to include cumulative expenses, net of tax, for the nonrecurring fair value adjustment to inventory, amortization expense for acquired intangible assets and interest expense on acquisition-related debt. The unaudited pro forma operating results are presented for comparative purposes only and do not necessarily reflect future operating results or those that would have occurred had the acquisition been completed at the beginning of fiscal year 2024.

	Three months ended October 31,
	2024		2023
Net sales, pro forma	$	377,065	$	361,109
Net income, pro forma	46,783		43,535