Acquisitions (Tables) - Ruckus [Member]

12 Months Ended

Oct. 29, 2016

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

In connection with the acquisition of Ruckus, the Company allocated the total purchase consideration to the net assets acquired and liabilities assumed, including identifiable intangible assets, based on their respective fair values at the Acquisition Date. The following table summarizes the preliminary allocation of the total purchase consideration to the fair value of the assets acquired and liabilities assumed (in thousands):



Assets acquired:
Cash and cash equivalents	$	95,515
Short-term investments	150,257
Accounts receivable, net of allowances for doubtful accounts of $2,100	41,339
Inventories	63,035
Prepaid expenses and other current assets	5,201
Property and equipment, net	21,777
Identifiable intangible assets	417,000
Other assets	1,697
Total assets acquired	795,821
Liabilities assumed:
Accounts payable	16,375
Accrued employee compensation	17,514
Deferred revenue	13,923
Other accrued liabilities	33,809
Non-current deferred revenue	9,364
Non-current deferred tax liabilities	62,963
Other non-current liabilities	40,561
Total liabilities assumed	194,509
Net assets acquired, excluding goodwill (a)	601,312
Total purchase consideration (b)	1,275,060
Estimated goodwill (b) - (a)	$	673,748

Schedule of Intangible Assets Acquired as Part of Business Combination

A preliminary assessment of the fair value of identified intangible assets and their respective useful lives are as follows (in thousands, except for estimated useful life):



	Approximate Fair Value		Estimated Useful Life (In years)
Trade name/trademark	$	44,000	11.00
Customer relationships	120,000		1 - 7
Developed technology	226,000		6 - 7
IPR&D ⁽¹⁾	27,000		N/A
Total intangible assets	$	417,000


⁽¹⁾	IPR&D will be accounted for as an indefinite-lived intangible asset until the underlying projects are completed or abandoned.

Schedule of Pro Forma Information

The following unaudited pro forma financial information presents the consolidated results of the Company and Ruckus for the fiscal year ended October 29, 2016, giving effect to the acquisition and the related debt financing as if they had occurred on November 2, 2014, and combines the historical financial results of the Company and Ruckus. The unaudited pro forma financial information includes adjustments to give effect to pro forma events that are directly attributable to the acquisition and the related debt financing. The pro forma financial information includes adjustments to amortization and depreciation for intangible assets and property, plant, and equipment acquired, adjustments to stock-based compensation expense, the effect of acquisition on inventory acquired and deferred revenue, interest expense for the additional indebtedness, and acquisition and integration costs. The unaudited pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the results of operations of future periods. The unaudited pro forma financial information does not give effect to the potential impact of current financial conditions, regulatory matters, or any anticipated synergies, operating efficiencies, or cost savings that may be associated with the acquisition. Consequently, actual results will differ from the unaudited pro forma financial information presented below (in thousands, except for per share amounts):



	Fiscal Year Ended
	October 29, 2016		October 31, 2015
Unaudited pro forma consolidated results:
Pro forma revenues	$	2,556,240	$	2,633,746
Pro forma net income	$	187,167	$	227,566
Pro forma net income per share—basic	$	0.46	$	0.54
Pro forma net income per share—diluted	$	0.45	$	0.53

Unaudited pro forma net income for the fiscal year ended October 31, 2015, includes nonrecurring pro forma adjustments directly attributable to the acquisition to the effect of inventory acquired of $35.9 million and acquisition and integration costs of $28.0 million. No such adjustments are included in any other periods.