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ACQUISITIONS (Tables)

9 Months Ended

Jul. 28, 2019

ACQUISITIONS

Asset and Liability Fair Values at the Acquisition Date

In September 2018, the Company acquired PLA, a privately held manufacturer of sprayers, planters, and specialty products for agriculture. PLA is based in Argentina, with manufacturing facilities in Las Roses, Argentina and Canoas, Brazil. The total cash purchase price after the final adjustment, net of cash acquired of $1 million, was $69 million with $4 million retained by the Company as escrow to secure indemnity obligations. In addition to the cash purchase price, the Company assumed $29 million of liabilities. The asset and liability fair values at the acquisition date in millions of dollars follow:

​	​	​	​	​
​	​	September 2018		​
Trade accounts and notes receivable	​	$	2	​
Other receivables	​	​	14	​
Inventories	​		14	​
Property and equipment	​	​	1	​
Goodwill	​		44	​
Other intangible assets	​		22	​
Other assets	​	​	1	​
Total assets	​	$	98	​
​	​	​	​	​
Short-term borrowings	​	$	8	​
Accounts payable and accrued expenses	​	​	17	​
Deferred income taxes	​	​	4	​
Total liabilities	​	$	29	​

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472

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