Acquisitions & Divestitures

6 Months Ended

May 02, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisitions & Divestitures

2 Acquisitions & Divestitures

Technology and Distributor Acquisition

On February 3, 2025, during the second quarter of fiscal 2025, the company completed the acquisition of certain technology assets and substantially all of the assets of, and assumed certain liabilities for, a U.S. based distributor of underground construction equipment. The purchase price of this acquisition was allocated to the identifiable assets acquired and liabilities assumed based on estimates of their fair value and no goodwill or indefinite-lived intangible assets were recorded. The company finalized the purchase accounting for this acquisition during the second quarter of fiscal 2025. Additional purchase accounting disclosures have been omitted due to immateriality of this acquisition in relation to the company's Consolidated Financial Condition and Results of Operations.