Acquisition (Tables)

12 Months Ended

Jan. 31, 2020

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

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



(in thousands)
Cash	$	545
Accounts receivable	218,978
Prepaid expenses and other current assets	22,977
Property and equipment, net	4,207
Goodwill	82,889
Intangible assets	226,390
Other assets, net	52,539
Total assets	608,525

Accounts payable, accrued expenses and other current liabilities	297,811
Revolving credit loans and other long-term debt	91,026
Other long-term liabilities	9,220
Total liabilities	398,057

Estimated purchase price	$	210,468

Business Acquisition [Line Items]

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.



Year ended January 31:	2018
(in millions)	(unaudited)
Pro forma net sales	$	34,268
Pro forma net income	$	129

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 of $20 million in fiscal 2018


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

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Impact of adoption of Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)"