Acquisitions (Tables)

9 Months Ended

Oct. 31, 2017

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)
Cash	$	176
Accounts receivable	1,836
Inventories	233
Prepaid expenses and other current assets	107
Property and equipment, net	62
Goodwill	609
Intangible assets	941
Other assets, net	177
Total assets	4,141

Other current liabilities	1,184
Revolving credit loans and long-term debt	134
Other long-term liabilities	106
Total liabilities	1,424

Estimated purchase price	$	2,717

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 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 October 31,				Nine months ended October 31,
	2017		2016		2017		2016
(in millions)	(unaudited)
Pro forma net sales	$	9,136	$	8,525	$	26,416	$	25,439
Pro forma net income	$	38	$	30	$	122	$	118

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


•	Removal of certain non-recurring transaction costs


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

Acquisition and integration expenses [Table Text Block]

Acquisition, integration and restructuring expenses for the three and nine months ended October 31, 2017 and 2016 are comprised of the following:



	Three months ended October 31,				Nine months ended October 31,
	2017		2016		2017		2016
(in thousands)
Professional services	$	10,694	$	3,978	$	37,702	$	5,305
Restructuring costs	6,861		—		24,188		—
Transaction related costs	1,925		8,535		19,154		9,190
Other	10,268		502		20,887		502
Total	$	29,748	$	13,015	$	101,931	$	14,997

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

Restructuring activity during the nine months ended October 31, 2017 is as follows:



	Nine months ended October 31, 2017
	Severance			Facility Exit Costs			Total
(in thousands)
Fiscal 2018 restructuring expenses	$	18,687		$	5,501		$	24,188
Cash payments	(11,270		)	(2,489		)	(13,759		)
Foreign currency translation	49			29			78
Balance at October 31, 2017	$	7,466		$	3,041		$	10,507