Loss On Sale Of Subsidiary

12 Months Ended

Oct. 26, 2013

Discontinued Operations and Disposal Groups [Abstract]

Loss On Sale Of Subsidiary

Loss on Sale of Subsidiary

In August 2011, the Company committed to a plan to exit a portion of its Global Services business through the sale of Strategic Business Systems, Inc. (“SBS”), its wholly-owned subsidiary, and signed a Stock Purchase Agreement to sell SBS to investors led by the former Managing Director of SBS. The sale was completed in September 2011 to enable the Company’s Global Services organization to focus on the execution of strategic and core offerings such as support and service for the Company’s products as well as professional consulting.

SBS’ assets and liabilities were classified as held for sale in the fourth quarter of fiscal year 2011 as a result of the Company’s commitment and actions. The net carrying amount of SBS’ assets and liabilities classified as held for sale was $16.2 million, comprising primarily of intangible assets of $11.1 million. Upon classifying the SBS assets as held for sale, the Company recognized an expected loss on disposal of $11.1 million, reducing the carrying amount of the SBS intangible assets to their fair value less costs to sell. Additionally, when the sale was completed, the Company wrote off $1.7 million of the associated Global Services goodwill, resulting in a total loss of $12.8 million, which is presented in the Company’s consolidated statements of income as “Loss on sale of subsidiary.”