Acquisitions Acquisitions (Tables)

9 Months Ended

Aug. 31, 2017

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The preliminary allocation, net of cash acquired, of the fair value of the RB Foods acquisition is summarized in the table below (in millions):

Trade accounts receivable	$	53.1
Inventories	65.9
Property, plant and equipment	33.1
Goodwill	2,553.9
Intangible assets	2,595.0
Other assets	5.7
Trade accounts payable	(65.7		)
Other accrued liabilities	(48.8		)
Deferred taxes	(966.6		)
Other long-term liabilities	(19.9		)
Total	$	4,205.7

The following are the transaction and integration expenses that we have recorded for the three and nine months ended August 31, 2017 related to the RB Foods acquisition (in millions):

Transaction expenses included in cost of goods	$	5.9
Transaction expenses included in other debt costs	15.4
Other transaction expenses	22.3
Integration expenses	2.2
Total	$	45.8

Business Acquisition, Pro Forma Information

(in millions, except per share data)	Nine months ended August 31,
	2017		2016
Net sales	$	3,718.1	$	3,572.5
Net income	351.0		284.8
Earnings per share – basic	$	2.67	$	2.14
Earnings per share – diluted	$	2.64	$	2.12