Acquisitions (Tables)

12 Months Ended

Oct. 31, 2020

Business Combination And Asset Acquisition [Abstract]

Schedule of 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 fiscal 2020, 2019, and 2018:



(In millions)	2020			2019		2018
Customer relationships	$	11.4		$	7.5	$	23.5
Trademarks	5.1			10.2		100.0
Technology	—			12.3		—
Composite intangible asset	—			—		1,061.9
Other	3.9			0.1		4.2
Total identifiable intangible assets	$	20.4		$	30.1	$	1,189.6
Goodwill	15.3			29.8		70.6
Net tangible (liabilities) assets	(0.3		)	7.3		59.6
Total purchase price	$	35.4		$	67.2	$	1,319.8

Schedule of fair values of net assets acquired and liabilities assumed using the cost accumulation and allocation model for asset acquisition

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.