Acquisitions (Tables)

3 Months Ended

Apr. 30, 2018

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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



(in millions)
Cash	$	176
Accounts receivable	1,830
Inventories	239
Prepaid expenses and other current assets	100
Property and equipment, net	62
Goodwill	727
Intangible assets	919
Other assets, net	151
Total assets	4,204

Other current liabilities	1,169
Revolving credit loans and long-term debt	134
Other long-term liabilities	99
Total liabilities	1,402

Purchase price	$	2,802

Business Acquisition, Pro Forma Information

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 April 30:
	2017
(in millions)
Pro forma net sales	$	7,694
Pro forma net income	$	36

Adjustments reflected in the pro forma results include the following:


•	Amortization of acquired intangible assets


•	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

Acquisition, integration and restructuring expenses for the three months ended April 30, 2018 and 2017 are comprised of the following:



	Three months ended April 30,
	2018		2017
(in thousands)
Restructuring costs	$	16,480	$	10,345
IT related costs	7,330		1,770
Professional services	3,567		10,137
Transaction related costs	878		15,179
Other costs	4,970		4,635
Total	$	33,225	$	42,066

Schedule of Restructuring Reserve by Type of Cost

Restructuring activity during the three months ended April 30, 2018 is as follows:



	Three months ended April 30, 2018
	Severance			Facility and Other Costs			Total
(in thousands)
Balance at January 31, 2018	$	13,366		$	1,630		$	14,996
Fiscal 2019 restructuring expenses	12,412			4,068			16,480
Cash payments	(5,747		)	(1,620		)	(7,367		)
Foreign currency translation	(385		)	(75		)	(460		)
Balance at April 30, 2018	$	19,646		$	4,003		$	23,649