Acquisitions Acquisitions (Tables)

9 Months Ended

Jul. 31, 2018

The following is a summary of the allocation of the total purchase consideration for business and asset acquisitions that the Company completed during fiscal 2018 and 2017:



(In millions)	July 31, 2018		October 31, 2017
Technology	$	—	$	71.7
Customer relationships	23.5		43.1
Trademarks	100.0		7.1
Composite intangible asset	1,061.9		—
Other	4.2		—
Total identifiable intangible assets	$	1,189.6	$	121.9
Goodwill	70.6		123.1
Net tangible assets (liabilities)	59.6		(4.8		)
Total purchase price	$	1,319.8	$	240.2

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.