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Acquisitions Acquisitions (Tables) | 6 Months Ended
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Apr. 30, 2019
Business Combinations [Abstract] |
Schedule of Acquisitions | The following table summarizes the relative fair values of net assets acquired and liabilities assumed using the cost accumulation and allocation model:
(In millions) | Relative Fair Value
Composite intangible asset (1) | $ | 1,061.9 |
Assembled workforce intangible asset (2) | 1.2 |
Property, plant and equipment | 2.0 |
Inventory (3) | 47.3 |
Other assets | 9.4 |
Total assets acquired | $ | 1,121.8 |
Less: liabilities assumed | 16.4 |
Total Purchase Price | $ | 1,105.4 |
The Company proportionally allocated the acquisition costs to the net assets acquired. The acquisition-related costs included advisory, legal, valuation and other professional fees. (1) Composite Intangible asset consists of technology, trade name, New Drug Application (NDA) approval and physician relationships, which have been valued as a single composite intangible asset as they are inextricably linked. The composite asset was identified as the primary asset acquired, was valued using the Multi-Period Excess Earnings Method and will be amortized over 15 years. (2) An assembled workforce was recognized as a separate acquired intangible asset, given the purchase of assets and will be amortized over 5 years. (3) Inventory relative fair value includes step up of $45.4 million. The following is a summary of the allocation of the total purchase consideration for business and asset acquisitions that the Company completed during fiscal 2019 and 2018:
(In millions) | April 30, 2019 |  | October 31, 2018
Technology | $ | 10.0 |  |  | $ | — |
Customer relationships | 7.5 |  |  | 23.5 |
Trademarks | 9.7 |  |  | 100.0 |
Composite intangible asset | — |  |  | 1,061.9 |
Other | — |  |  | 4.2 |
Total identifiable intangible assets | $ | 27.2 |  |  | $ | 1,189.6 |
Goodwill | 35.8 |  |  | 70.6 |
Net tangible assets | 1.3 |  |  | 59.6 |
Total purchase price | $ | 64.3 |  |  | $ | 1,319.8 |

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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=84161108&loc=d3e4845-128472 + Details
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