Acquisitions (Tables)

12 Months Ended

Oct. 25, 2013

International Mining Machinery Holdings Ltd.

Business Acquisition [Line Items]

Preliminary Fair Value of Assets Acquired Liabilities Assumed

The following table summarizes the estimates of fair value of the assets acquired and the liabilities assumed as of the acquisition date:

(in thousands)
Assets Acquired:
Cash and cash equivalents	$	72,912
Accounts receivable	227,825
Inventories	91,176
Other current assets	15,622
Property, plant and equipment	125,600
Other intangible assets and goodwill	1,160,211
Other non-current assets	34,078
Total assets acquired	1,727,424
Liabilities Assumed:
Short-term notes payable	(14,666		)
Accounts payable	(87,305		)
Employee compensation and benefits	(6,458		)
Advance payments and progress billings	(6,122		)
Other accrued liabilities	(64,916		)
Other non-current liabilities	(124,519		)
Total liabilities assumed	(303,986		)
	$	1,423,438

Finite-lived Intangible Assets Acquired As Part Business Combination

The intangible assets have been assigned to the following categories:

(In thousands)
Customer relationships	$	77,300
Backlog	2,700
	$	80,000

Unaudited Pro forma Financial Information

Pro forma adjustments have been made for changes in depreciation and amortization expenses related to the valuation of the acquired tangible and intangible assets at fair value, the elimination of non-recurring items and the addition of incremental costs related to debt used to finance the acquisition.

	Years Ended
(in thousands, except per share data)	October 26, 2012		October 28, 2011
Net sales	$	5,729,097	$	4,723,808
Income from continuing operations	$	770,921	$	621,894
Basic earnings per share from continuing operations	$	7.28	$	5.93
Diluted earnings per share from continuing operations	$	7.21	$	5.84

LeTourneau Technologies, Inc.

Business Acquisition [Line Items]

Preliminary Fair Value of Assets Acquired Liabilities Assumed

The purchase price for the acquisition was as follows:

(in thousands)
Cash consideration	$	1,100,000
Working capital purchase price adjustments	(46,323		)
	$	1,053,677

The following table summarizes the fair value of the assets acquired and the liabilities assumed as of the acquisition date:

(in thousands)
Assets Acquired:
Cash and cash equivalents	$	4,769
Accounts receivable	52,910
Inventories	200,050
Other current assets	187
Current assets of discontinued operations	331,412
Property, plant and equipment	106,394
Other intangible assets and goodwill	565,388
Other non-current assets	14,459
Non-current assets of discontinued operations	226,844
Total assets acquired	1,502,413
Liabilities Assumed:
Accounts payable	(37,217		)
Employee compensation and benefits	(10,576		)
Advance payments and progress billings	(97,228		)
Other accrued liabilities	(120,459		)
Current liabilities of discontinued operations	(183,256		)
Total liabilities assumed	(448,736		)
	$	1,053,677

Finite-lived Intangible Assets Acquired As Part Business Combination

The determination of the useful life was based on historical experience, economic factors and future cash flows of the assets acquired. The intangible assets have been assigned to the following categories:

(In thousands)
Customer relationships	$	76,500
Patents	69,900
Unpatented technology	31,600
Backlog	3,200
	$	181,200

Unaudited Pro forma Financial Information

Pro forma adjustments have been made for changes in depreciation and amortization expenses related to the valuation of the acquired tangible and intangible assets at fair value, the elimination of non-recurring items, the addition of incremental costs related to debt used to finance the acquisition and the tax benefits related to the increased costs.

	Year Ended
(in thousands, except per share data)	October 28, 2011
Net sales	$	4,620,059
Income from continuing operations	$	913,474
Basic earnings per share from continuing operations	$	6.12
Diluted earnings per share from continuing operations	$	6.02