Acquisitions (Tables)

1 Months Ended

3 Months Ended

Feb. 28, 2017

Apr. 30, 2017

Business Acquisition, Pro Forma Information [Table Text Block]

The following table presents unaudited supplemental pro forma information as if the TS acquisition had occurred at the beginning of fiscal 2017. The pro forma results presented are based on combining the stand-alone operating results of the Company and TS for the periods prior to the acquisition date after giving effect to certain adjustments related to the transaction. The pro forma results exclude any benefits that may result from potential cost synergies of the combined company and certain non-recurring costs. As a result, the pro forma information below is presented for informational purposes only and does not purport to present what actual results would have been had the acquisition actually been consummated on the date indicated and it is not necessarily indicative of the results of operations that may result in the future.



Three months ended April 30:	2017		2016
(in millions)
Pro forma net sales	$	8,397	$	8,177
Pro forma net income	$	35	$	31

Adjustments reflected in the pro forma results include the following:


•	Amortization of acquired intangible assets based on the preliminary valuation and estimated purchase price


•	Interest costs associated with the transaction


•	Certain non-recurring transaction costs


•	Tax effects of adjustments based on an estimated statutory tax rate

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The preliminary allocation of the estimated purchase price to assets acquired and liabilities assumed is as follows:



(in millions)
Current assets	$	2,363
Property and equipment, net	61
Goodwill	493
Intangible assets	1,035
Other assets, net	180
Total assets	4,132

Other current liabilities	1,178
Revolving credit loans and long-term debt	119
Other long-term liabilities	118
Total liabilities	1,415

Estimated purchase price	$	2,717

Acquisition and integration expenses [Table Text Block]

Acquisition and integration expenses for the three months ended April 30, 2017 are comprised of the following:



Three months ended:	April 30, 2017
(in thousands)
Transaction related costs	$	15,179
Professional services	11,907
Restructuring costs	10,345
Other	4,635
Total	$	42,066

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

Information related to restructuring program activity during the three months ended April 30, 2017 is outlined below:



	Severance			Facility Exit Costs			Total
(in thousands)
Fiscal 2018 restructuring expenses	$	10,059		$	286		$	10,345
Cash payments	(4,127		)	(286		)	(4,413		)
Foreign currency translation	26			—			26
Balance at April 30, 2017	$	5,958		$	—		$	5,958