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Acquisitions and Joint Venture (Tables) | 9 Months Ended
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Jul. 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 nine months ended July 31, 2022, and fiscal 2021:
(In millions) | July 31, 2022 |  | October 31, 2021
Technology | $ | 1.9 |  |  | $ | 178.6 |
In-Process Research & Development (IPR&D) | — |  |  | 20.0 |
Customer relationships | 730.0 |  |  | 7.5 |
Trademarks | 55.4 |  |  | 1.3 |
Other | — |  |  | 0.6 |
Total identifiable intangible assets | $ | 787.3 |  |  | $ | 208.0 |
Goodwill | 1,206.3 |  |  | 91.6 |
Net tangible liabilities | (309.0) |  |  | (10.8) |
Fair value of contingent consideration | (1.5) |  |  | (39.1) |
Total closing purchase price | $ | 1,683.1 |  |  | $ | 249.7 |
Schedule of recognized identified assets acquired and liabilities assumed | The following table summarizes the preliminary 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 | 29.5 |
Total current assets | 115.4 |
Property, plant and equipment | 32.5 |
Operating lease right-of-use assets | 21.3 |
Goodwill | 1,196.5 |
Customer relationships | 719.1 |
Trademarks | 54.9 |
Deferred tax assets | 15.8 |
Other assets | 0.8 |
Total assets acquired | $ | 2,156.3 |
Current liabilities: |
Accounts payable | $ | 12.6 |
Employee compensation and benefits | 12.3 |
Operating lease liabilities | 2.6 |
Deferred revenue | 69.6 |
Other current liabilities | 15.1 |
Total current liabilities | 112.2 |
Deferred tax liabilities | 151.8 |
Operating lease liabilities | 18.8 |
Deferred revenue | 208.8 |
Other liabilities | 1.6 |
Total liabilities assumed | $ | 493.2 |
Total purchase price | $ | 1,663.1 |
Schedule of business acquisition, 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 July 31, |  | Nine months ended July 31,
(In millions) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Revenue |  | $ | 843.2 |  |  | $ | 835.5 |  |  | $ | 2,496.2 |  |  | $ | 2,367.9 |
Net income |  | $ | 97.9 |  |  | $ | 614.9 |  |  | $ | 303.7 |  |  | $ | 2,837.7 |
Contingent consideration reconciliation | The following table provides a reconciliation of the beginning and ending balances of contingent consideration:
Periods Ended July 31, | Three Months |  | Nine Months
(In millions) | 2022 |  | 2021 |  | 2022 |  | 2021
Beginning balance | $ | 45.6 |  |  | $ | 30.8 |  |  | $ | 97.4 |  |  | $ | — |
Purchase price contingent consideration | — |  |  | 0.5 |  |  | 1.5 |  |  | 31.3 |
Payments | — |  |  | — |  |  | (42.9) |  |  | — |
Change in fair value | (0.3) |  |  | 56.8 |  |  | (10.7) |  |  | 56.8 |
Ending balance | $ | 45.3 |  |  | $ | 88.1 |  |  | $ | 45.3 |  |  | $ | 88.1 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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