Acquisitions (Tables)

9 Months Ended

May 31, 2026

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

Schedule of Fair Values of Assets and Liabilities

The following table outlines the final fair values of the assets and liabilities obtained in connection with the QSC acquisition as of January 1, 2025 (in millions):






	Purchase Price Allocation
Consideration transferred:
Cash consideration	$	1,240.7
Identifiable assets:
Intangible assets	713.9
Inventories	101.9
Property, plant, and equipment	28.4
Operating lease right-of-use assets	24.2
Accounts receivable	55.7
Cash and cash equivalents	51.3
Other assets	45.8
Total identifiable assets	1,021.2
Liabilities assumed:
Accounts payable	32.6
Operating lease liabilities	24.2
Deferred tax liabilities	17.6
Other liabilities	100.7
Total liabilities assumed	175.1
Total identifiable net assets	846.1
Goodwill	$	394.6

Schedule of Estimated Useful Lives of Identifiable Intangible Assets

The final fair values and useful lives of identifiable intangible assets as of January 1, 2025 are as follows:


	Weighted Average Useful Life (Years)	Fair Value (in millions)
Developed technology and patents(1)	10	$	434.0
Customer relationships	19	145.0
Trademarks	18	133.0
Other	1	1.9
Total identifiable intangible assets	13	$	713.9

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(1) Substantially all of the developed technology intangible assets relates to Q-SYS, an audio, video, and control platform.

Schedule of the Amount of Net Sales and Net Income

The following table provides the amount of QSC net sales and net income included within our consolidated financial statements for fiscal 2025 since the acquisition date (in millions):


	May 31, 2025
	Three Months Ended		Nine Months Ended
Net sales	$	172.8	$	267.9
Net income(1)	7.9		6.2

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(1) Net income for the three months ended May 31, 2025 includes pre-tax nonrecurring acquisition date fair value adjustments to inventory of $19.2 million and amortization of acquired intangible assets of $11.6 million. Net income for the nine months ended May 31, 2025 includes pre-tax nonrecurring acquisition date fair value adjustments to inventory of $29.6 million and amortization of acquired intangible assets of $19.4 million.

Schedule of Business Acquisition, Pro Forma Information

Amounts in the table below combine our previously reported results with QSC’s results for the corresponding periods as well as adjustments for purchase accounting, accounting policy alignments, changes to our capital structure, including additional interest expense associated with borrowings to fund the acquisition, and other nonrecurring items that were incurred in connection with the acquisition, assuming they occurred as of September 1, 2023 (in millions):


	Quarter-to-Date		Year-to-Date
	May 31, 2025		May 31, 2025
Revenue	$	1,178.6	$	3,337.2
Net income	115.1		323.7