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ACQUISITIONS (Tables)
 3 Months Ended
Jan. 31, 2020
Business Combinations [Abstract]  
Schedule of preliminary valuation of identifiable assets acquired and liabilities assumed
The following table summarizes the consideration transferred to acquire Tholu and the current preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date, as well as measurement period adjustments made in 2019 through January 31, 2020:
(in millions)
Amounts Recognized as of the Acquisition Date
Measurement Period Adjustments (2)
Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
 
 
 
Cash consideration
$
25.1

$
—

$
25.1

Deferred payments
29.2

—

29.2

Cash received
(2.1
)
$
—

(2.1
)
Total consideration
$
52.2

$
—

$
52.2

 
 
 
 
Recognized amounts of identifiable assets acquired and liabilities assumed
 
 
 
Accounts receivable
$
7.3

$
—

$
7.3

Inventories
3.0

0.4

3.4

Intangibles
24.1

—

24.1

Properties, plants and equipment
6.4

—

6.4

Other assets
1.2

—

1.2

Total assets acquired
42.0

0.4

42.4

 
 
 
 
Accounts payable
(4.0
)
—

(4.0
)
Capital lease obligations
(1.7
)
—

(1.7
)
Long-term deferred tax liability
(5.4
)
(0.4
)
(5.8
)
Other liabilities
(1.0
)
—

(1.0
)
Total liabilities assumed
(12.1
)
(0.4
)
(12.5
)
Total identifiable net assets
$
29.9

$
—

$
29.9

Goodwill
$
22.3

$
—

$
22.3

(2) The measurement adjustments were primarily due to refinement to third party appraisals and carrying amounts of certain assets and liabilities, as well as adjustments to certain tax accounts based on, among other things, adjustments to deferred tax liabilities. The net impact of the measurement period adjustments resulted in no net impact to Goodwill. The measurement adjustments recorded in 2019 did not have a significant impact on the Company's interim condensed consolidated statements of income for the three months ended January 31, 2020.
The following table summarizes the consideration transferred to acquire Caraustar and the current preliminary valuation of identifiable assets acquired and liabilities assumed at the acquisition date, as well as measurement period adjustments made since the acquisition in 2019 through January 31, 2020:
(in millions)
Amounts Recognized as of the Acquisition Date
Measurement Period Adjustments (1)
Amount Recognized as of Acquisition Date (as Adjusted)
Fair value of consideration transferred
 
 
 
Cash consideration
$
1,834.9

$
—

$
1,834.9

 
 
 
 
Recognized amounts of identifiable assets acquired and liabilities assumed
 
 
 
Accounts receivable
$
147.0

$
—

$
147.0

Inventories
103.9

(4.4
)
99.5

Prepaid and other current assets
21.5

(9.3
)
12.2

Intangibles
717.1

8.4

725.5

Other long-term assets
1.3

5.1

6.4

Properties, plants and equipment
521.3

(18.4
)
502.9

Total assets acquired
1,512.1

(18.6
)
1,493.5

 
 
 
 
Accounts payable
(99.5
)
—

(99.5
)
Accrued payroll and employee benefits
(42.9
)
(6.4
)
(49.3
)
Other current liabilities
(21.8
)
4.5

(17.3
)
Long-term deferred tax liability
(185.7
)
46.9

(138.8
)
Pension and postretirement obligations
(67.1
)
—

(67.1
)
Other long-term liabilities
(12.7
)
(7.3
)
(20.0
)
Total liabilities assumed
(429.7
)
37.7

(392.0
)
Total identifiable net assets
$
1,082.4

$
19.1

$
1,101.5

Goodwill
$
752.5

$
(19.1
)
$
733.4


(1) The measurement adjustments were primarily due to refinement to third party appraisals and carrying amounts of certain assets and liabilities, as well as adjustments to certain tax accounts based on, among other things, adjustments to deferred tax liabilities. The net impact of the measurement period adjustments resulted in a net $19.1 million decrease to Goodwill. The measurement adjustments recorded did not have an impact on the Company's interim condensed consolidated statements of income for the three months ended January 31, 2020.

Schedule of finite-lived intangible assets acquired as part of business combination The following table summarizes the preliminary purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired:

(in millions)
Preliminary Fair Value
Weighted Average Estimated Useful Life
Customer relationships
$
21.9

15.0
Trademarks
1.2

9.0
Other
1.0

2.0
Total intangible assets
$
24.1

 

(in millions)
Current Preliminary Purchase Price Allocation
Weighted Average Estimated Useful Life
Customer relationships
$
708.0

15.0
Trademarks
15.0

3.0
Other
2.5

4.6
Total intangible assets
$
725.5