ACQUISITION

12 Months Ended

Oct. 31, 2017

Business Combinations [Abstract]

ACQUISITION

Effective January 1, 2017, during the first quarter of fiscal 2017, the company completed the acquisition of all the outstanding shares of Regnerbau Calw GmbH ("Perrot"), a privately held manufacturer of professional irrigation equipment. The addition of these products broadens and strengthens the company's irrigation solutions for the sport, agricultural, and industrial markets. The acquisition was funded with existing foreign cash and cash equivalents.

The purchase price of this acquisition was allocated to the identifiable assets acquired and liabilities assumed based on estimates of their fair value, with the excess purchase price recorded as goodwill. As of October 31, 2017, the company has finalized the purchase accounting for the acquisition. This acquisition was immaterial based on the company's Consolidated Financial Condition and Results of Operations.