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ACQUISITIONS | 9 Months Ended
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Jul. 31, 2016
ACQUISITIONS |
ACQUISITIONS | (18) In February 2016, the Company acquired Monosem for a cost of approximately $146 million, net of cash acquired of $20 million. Monosem, with four facilities in France and two in the U.S., is the European market leader in precision planters. The fair values assigned to the assets and liabilities related to the acquired entity in millions of dollars follow:
Trade accounts and notes receivable - net |  | $ | 5 |
Other receivables |  |  | 2 |
Inventories |  |  | 29 |
Property and equipment - net |  |  | 24 |
Goodwill |  |  | 62 |
Other intangible assets - net |  |  | 42 |
Other assets |  |  | 23 |
Total assets |  | $ | 187 |
Accounts payable and accrued expenses |  | $ | 22 |
Deferred tax liabilities |  |  | 19 |
Total liabilities |  | $ | 41 |
The identifiable intangibles were primarily related to trade name, customer relationships and technology, which have a weighted average amortization period of 9 years. The goodwill is not expected to be deducted for tax purposes. In March 2016, the Company acquired an 80 percent interest in Hagie Manufacturing Company, LLC, the U.S. market leader in high-clearance sprayers located in Clarion, Iowa, for a cost of approximately $53 million, net of cash acquired of $3 million. The preliminary fair values assigned to the assets and liabilities related to the acquired entity in millions of dollars follow:
Trade accounts and notes receivable - net |  | $ | 2 |
Inventories |  |  | 33 |
Property and equipment - net |  |  | 18 |
Goodwill |  |  | 32 |
Other intangible assets - net |  |  | 22 |
Other assets |  |  | 3 |
Total assets |  | $ | 110 |
Accounts payable and accrued expenses, and Total liabilities |  | $ | 43 |
Redeemable noncontrolling interest |  | $ | 14 |
The identifiable intangibles were primarily related to technology, trade name and customer relationships, which have a weighted average amortization period of 8 years. The goodwill is expected to be deducted for tax purposes. If certain events occur, the minority interest holder has the right to exercise a put option that would require the Company to purchase the holder’s membership interest. The Company also has a call option exercisable after a certain period of time. The put and call options cannot be separated from the noncontrolling interest. Due to the redemption features, the minority interest holder’s value is classified as a redeemable noncontrolling interest in the Company’s consolidated balance sheet. The goodwill in both transactions was the result of future cash flows and related fair values of the entities exceeding the fair value of the identified assets and liabilities. The results of both entities were included in the Company’s consolidated financial statements in the agriculture and turf segment since the dates of acquisition. The pro forma results of operations as if the acquisitions had occurred at the beginning of the current fiscal year would not differ significantly from the reported results.

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