Business Combinations (Tables)

3 Months Ended

Jan. 31, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price to the fair values assigned to the CMW assets acquired and liabilities assumed. These fair values are based on internal company and independent external third-party valuations:

(Dollars in thousands)	April 1, 2019
Cash and cash equivalents	$	16,341
Receivables	65,674
Inventories	241,429
Prepaid expenses and other current assets	9,218
Property, plant and equipment	142,779
Goodwill	135,521
Other intangible assets	264,190
Other long-term assets	7,971
Accounts payable	(36,655		)
Accrued liabilities	(52,258		)
Deferred income tax liabilities	(86,231		)
Other long-term liabilities	(6,665		)
Total fair value of net assets acquired	701,314
Less: cash and cash equivalents acquired	(16,341		)
Total purchase price	$	684,973

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination

The fair values of the other intangible assets acquired on the closing date, related accumulated amortization from the closing date through January 31, 2020, and weighted-average useful lives were as follows:

(Dollars in thousands)	Weighted-Average Useful Life	Gross Carrying Amount		Accumulated Amortization			Net
Customer-related	18.3	$	130,800	$	(7,193	)	$	123,607
Developed technology	7.8	20,900		(2,885		)	18,015
Trade names	20.0	5,200		(216		)	4,984
Backlog	0.5	3,590		(3,590		)	—
Total definite-lived	16.6	160,490		(13,884		)	146,606
Indefinite-lived - trade names		103,700		—			103,700
Total other intangible assets, net		$	264,190	$	(13,884	)	$	250,306

Business Acquisition, Pro Forma Information

The following table presents unaudited pro forma financial information related to the company's acquisition of CMW:

	Three Months Ended
(Dollars in thousands, except per share data)	January 31, 2020		February 1, 2019
Net sales	$	767,483	$	777,537
Net earnings	70,561		56,515
Basic net earnings per share of common stock	0.66		0.53
Diluted net earnings per share of common stock	$	0.65	$	0.52