Business Combinations (Tables)

6 Months Ended

May 01, 2020

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the preliminary Venture Products purchase price to the fair values assigned to the Venture Products assets acquired and liabilities assumed. These fair values are based on internal company and independent external third-party valuations and are subject to change as certain asset and liability valuations are finalized:

(Dollars in thousands)	March 2, 2020
Cash and cash equivalents	$	3,476
Receivables	6,342
Inventories	23,000
Prepaid expenses and other current assets	239
Property, plant and equipment	26,976
Goodwill	65,185
Other intangible assets	75,300
Accounts payable	(4,075		)
Accrued liabilities	(6,186		)
Deferred income tax liabilities	(20,850		)
Total fair value of net assets acquired	169,407
Less: cash and cash equivalents acquired	(3,476		)
Total preliminary Venture Products purchase price	$	165,931

The following table summarizes the allocation of the CMW 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	8,050
Property, plant and equipment	142,779
Goodwill	134,657
Other intangible assets	264,190
Other long-term assets	7,971
Accounts payable	(35,892		)
Accrued liabilities	(51,943		)
Deferred income tax liabilities	(85,277		)
Other long-term liabilities	(6,665		)
Total fair value of net assets acquired	701,314
Less: cash and cash equivalents acquired	(16,341		)
Total CMW 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 CMW closing date, related accumulated amortization from the CMW closing date through May 1, 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	$	(9,405	)	$	121,395
Developed technology	7.8	20,900		(3,750		)	17,150
Trade names	20.0	5,200		(282		)	4,918
Backlog	0.5	3,590		(3,590		)	—
Total finite-lived	16.6	160,490		(17,027		)	143,463
Indefinite-lived - trade names		103,700		—			103,700
Total other intangible assets, net		$	264,190	$	(17,027	)	$	247,163