EXCHANGE TRANSACTION (Tables)

12 Months Ended

Jul. 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 interest	111,816
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 calculation of goodwill and fair value amounts recognized in the Exchange Transaction, as well as final fair value allocations reflecting adjustments made during the measurement period:

(in thousands)	Initial Estimate		Measurement Period Adjustments		Final Allocation
Assets
Accounts receivable, trade	$	36,900	$	—	$	36,900
Inventories, net	6,900		—		6,900
Prepaid expenses and other current assets	4,957		—		4,957
Other intangible assets	35,500		—		35,500
Other assets	3,900		—		3,900
Property and equipment, net	3,400		—		3,400
Operating lease right-of-use assets	29,250		—		29,250
Investments	202,733		—		202,733
Estimated fair value of total assets acquired by Steel Holdings	323,540		—		323,540
Liabilities
Accounts payable	26,300		—		$	26,300
Accrued expenses	29,100		(3,082)		26,018
Current lease obligations	7,994		—		7,994
Other current liabilities	7,236		—		7,236
Long-term lease obligations	21,300		—		21,300
Other long-term liabilities	5,742		—		5,742
Estimated fair value of total liabilities assumed by Steel Holdings	97,672		(3,082)		94,590
Fair value of identifiable net assets	225,868		3,082		228,950
Goodwill attributable to Steel Connect	$	22,785	$	(3,082)	$	19,703

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 relationships	7	$	25,000
Trade name	Indefinite	10,500
Estimated fair value of identifiable intangible assets		$	35,500