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EXCHANGE TRANSACTION (Tables)
6 Months Ended
Jan. 31, 2024
Related Party Transactions [Abstract]  
Schedule of Exchange Transaction Consideration
The following table summarizes the total Exchange Transaction consideration:

(in thousands)May 1, 2023
Fair value of Aerojet common stock$202,733 
Fair value of previously held interest in Steel Connect and noncontrolling interest111,816 
Less: cash acquired from Steel Connect(65,896)
Total estimated consideration, less cash acquired$248,653 
Summary of Preliminary Fair Value of Assets Acquired and Liabilities Assumed
The following represents the final calculation of goodwill and fair value amounts recognized. The Company notes that there were no measurement period adjustments made in the current period that would result in an updated preliminary fair value allocation.
(in thousands)May 1, 2023
Assets
Accounts receivable, trade$36,900 
Inventories, net6,900
Prepaid expenses and other current assets4,957
Other intangible assets35,500 
Other assets3,900 
Property and equipment, net3,400 
Operating lease right-of-use assets29,250 
Investments202,733 
Estimated fair value of total assets acquired by Steel Holdings323,540 
Liabilities
Accounts payable26,300 
Accrued expenses29,100 
Current lease obligations7,994 
Other current liabilities7,236 
Long-term lease obligations21,300 
Other long-term liabilities5,742 
Estimated fair value of total liabilities assumed by Steel Holdings97,672 
Fair value of identifiable net assets225,868
Goodwill attributable to Steel Connect$22,785 
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Exchange Transaction The estimated fair value and estimated remaining useful lives of identifiable intangible assets as of the Exchange Transaction date were as follows:
(in thousands)Useful Life (Years)Amount
Customer relationships7$25,000 
Trade nameIndefinite10,500 
Estimated fair value of identifiable intangible assets$35,500