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Acquisitions (Tables) | 9 Months Ended
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Jul. 31, 2018
Business Combinations [Abstract] |
Schedule of Consideration Transferred | Consideration Transferred
(in millions, except per share data) |  |
Shares of ABM common stock, net of shares withheld for taxes |  | 9.4 |
ABM common stock closing market price at acquisition date |  | $ | 44.63 |
Fair value of ABM common stock at closing |  | 421.3 |
Cash consideration(1) |  | 837.5 |
Total consideration transferred |  | $ | 1,258.8 |
(1) Revised during the second quarter of 2018 to reflect a post-closing purchase price adjustment related to a net working capital settlement.
Schedule of Preliminary Purchase Price Allocation | The following table presents our preliminary estimates of fair values of the assets we acquired and the liabilities we assumed on the date of acquisition as previously reported at year-end 2017 and at the end of the third quarter of 2018.
|  | As reported at |  |  |  | As reported at
(in millions) |  | October 31, 2017 |  | Adjustments |  | July 31, 2018
Cash and cash equivalents |  | $ | 2.5 |  |  | $ | (2.3 | ) |  | $ | 0.2 |
Trade accounts receivable(1) |  | 118.1 |  |  | (0.4 | ) |  | 117.7 |
Prepaid expenses and other current assets |  | 10.3 |  |  | (0.3 | ) |  | 10.1 |
Property, plant and equipment |  | 41.4 |  |  | 0.1 |  |  | 41.5 |
Customer relationships(2) |  | 340.0 |  |  | (10.0 | ) |  | 330.0 |
Trade names(2) |  | 9.0 |  |  | — |  |  | 9.0 |
Goodwill(3) |  | 933.9 |  |  | 0.3 |  |  | 934.2 |
Other assets |  | 4.2 |  |  | (0.2 | ) |  | 4.0 |
Trade accounts payable |  | (9.1 | ) |  | (0.4 | ) |  | (9.6 | )
Insurance reserves |  | (35.5 | ) |  | (0.6 | ) |  | (36.1 | )
Income taxes payable |  | (16.5 | ) |  | 8.2 |  |  | (8.3 | )
Accrued liabilities |  | (36.5 | ) |  | 3.3 |  |  | (33.1 | )
Deferred income tax liability, net |  | (92.6 | ) |  | — |  |  | (92.6 | )
Other liabilities |  | (8.1 | ) |  | — |  |  | (8.1 | )
Net assets acquired |  | $ | 1,261.3 |  |  | $ | (2.4 | ) |  | $ | 1,258.8 |
(1) The gross amount of trade accounts receivable was $122.0 million, of which $4.3 million is currently expected to be uncollectible. (2) The amortization periods for the acquired intangible assets are 15 years for customer relationships and 2 years for trade names. (3) Goodwill is largely attributable to value we expect to obtain from long-term business growth, the established workforce, and buyer-specific synergies. This goodwill is not deductible for income tax purposes.
Schedule of Pro Forma Financial Information | Accordingly, the pro forma information is not necessarily indicative of the results that would have been achieved if the acquisition had been effective on November 1, 2015.
|  | Three Months Ended |  | Nine Months Ended
(in millions) |  | July 31, 2017 |  | July 31, 2017
Pro forma revenue |  | $ | 1,573.2 |  |  | $ | 4,712.5 |
Pro forma income from continuing operations |  | 36.1 |  |  | 82.6 |

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