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Business Combination | 9 Months Ended
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Jul. 31, 2023
Business Combinations [Abstract] |
Business Combination | Business Combination During the nine months ended July 31, 2023, we completed two acquisitions for aggregate purchase consideration of $48.6 million, net of cash acquired. The purchase consideration was allocated as follows: $24.6 million to identifiable intangible assets and $28.5 million to goodwill. The total purchase consideration is preliminary, and as additional information becomes available, we may further revise it during the remainder of the measurement period, which will not exceed 12 months from the closing of the acquisition. The goodwill recognized from both acquisitions was assigned to the Design Automation reporting unit, and $5.7 million was deductible for income tax purposes. We have included the financial results of these acquisitions in our condensed consolidated financial statements from the date of acquisition. These results were not material to our condensed consolidated financial statements. Transaction costs were $4.5 million and $9.8 million during the three and nine months ended July 31, 2023, respectively. Transaction costs were $5.2 million and $11.3 million during the three and nine months ended July 31, 2022, respectively. These costs mainly consisted of professional fees and administrative costs and were expensed as incurred in our condensed consolidated statements of income.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
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