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Acquisitions and Assets Held for Sale (Tables) | 3 Months Ended
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Jan. 31, 2022
Business Combination and Asset Acquisition [Abstract] |
Total purchase consideration for business and asset acquisitions | The following is a summary of the allocation of the total purchase consideration for business and asset acquisitions that the Company completed during the three months ended January 31, 2022 and fiscal 2021:
(In millions) | January 31, 2022 |  | October 31, 2021
Technology | $ | 1.8 |  |  | $ | 178.6 |
In-Process Research & Development (IPR&D) | — |  |  | 20.0 |
Customer relationships | 472.0 |  |  | 7.5 |
Trademarks | 142.0 |  |  | 1.3 |
Other | — |  |  | 0.6 |
Total identifiable intangible assets | $ | 615.8 |  |  | $ | 208.0 |
Goodwill | 1,288.2 |  |  | 91.6 |
Net tangible liabilities | (238.3) |  |  | (10.8) |
Fair value of contingent consideration | — |  |  | (39.1) |
Total closing purchase price | $ | 1,665.7 |  |  | $ | 249.7 |
Assets acquired and liabilities assumed as of the acquisition date | The following table summarizes the provisional fair values of assets acquired and liabilities assumed as of the acquisition date:
(In millions) |
Current assets: |
Cash and cash equivalents | $ | 58.6 |
Trade accounts receivable, net | 23.3 |
Inventories | 4.0 |
Prepaid expense and other current assets | 29.9 |
Total current assets | 115.8 |
Property, plant and equipment | 25.1 |
Operating lease right-of-use assets | 21.4 |
Goodwill | 1,292.6 |
Customer relationships | 472.0 |
Trademarks | 142.0 |
Deferred tax assets | 15.8 |
Other assets | 0.8 |
Total assets acquired | $ | 2,085.5 |
Current liabilities: |
Accounts payable | $ | 12.6 |
Employee compensation and benefits | 12.3 |
Operating lease liabilities | 2.5 |
Deferred revenue | 68.4 |
Other current liabilities | 8.8 |
Total current liabilities | 104.6 |
Deferred tax liabilities | 134.4 |
Operating lease liabilities | 18.8 |
Deferred revenue | 160.9 |
Other liabilities | 1.1 |
Total liabilities assumed | $ | 419.8 |
Total purchase price | $ | 1,665.7 |
Pro forma information | The following unaudited pro forma information summarizes the combined results of operations of the Company and Generate as if the acquisition had been completed at the beginning of the Company’s fiscal 2021:
Three Months Ended January 31, |  |  |  |
(In millions) |  | 2022 |  | 2021
Revenue |  | $ | 823.4 |  |  | $ | 744.8 |
Net income |  | $ | 79.9 |  |  | $ | 2,111.5 |
Contingent consideration reconciliation | The following table provides a reconciliation of the beginning and ending balances of contingent consideration:
Three Months Ended January 31, |
(In millions) | 2022 |  | 2021
Beginning balance | $ | 97.4 |  |  | $ | — |
Purchase price contingent consideration | — |  |  | 30.2 |
Payments | — |  |  | — |
Change in fair value | 3.5 |  |  | — |
Ending balance | $ | 100.9 |  |  | $ | 30.2 |
Carrying amounts of the assets and liabilities held for sale | Included in the Company's Consolidated Condensed Balance Sheets as of January 31, 2022 and October 31, 2021 are the following carrying amounts of the assets and liabilities held for sale:
(In millions) | January 31, 2022 |  | October 31, 2021
ASSETS |  |  |
Cash | $ | 0.3 |  |  | $ | 0.3 |
Goodwill | 20.2 |  |  | 23.2 |
Other intangibles, net | 83.6 |  |  | 83.6 |
Deferred tax assets | — |  |  | (19.9) |
Other assets | 2.7 |  |  | 2.0 |
Total assets held-for-sale | $ | 106.8 |  |  | $ | 89.2 |
LIABILITIES |  |  |
Deferred tax liabilities | $ | 16.8 |  |  | $ | — |
Other liabilities | 2.2 |  |  | 1.7 |
Total liabilities held-for-sale | $ | 19.0 |  |  | $ | 1.7 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760 Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760 + Details
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