|IHS MARKIT LTD. filed this Form 10-K on 01/18/2019|
that would have occurred if the Merger had been consummated as of that date. This information should not be used as a predictive measure of our future financial position, results of operations, or liquidity.
The pro forma net income excludes $70.0 million of one-time merger and transaction costs for the year ended November 30, 2016.
The following table summarizes the purchase price allocation, net of acquired cash, for these acquisitions (in millions):
The finalization of purchase accounting in fiscal 2017 resulted in reductions to intangible assets of approximately $80 million, deferred taxes of $66 million, and other current working capital of $6 million, with an offsetting $20 million increase to goodwill. Of the goodwill recorded for the 2016 business combinations, approximately $744.3 million is tax deductible.
Our accounts receivable balance consists of the following as of November 30, 2018 and 2017 (in millions):
We record an accounts receivable allowance when it is probable that the accounts receivable balance will not be collected. The amounts comprising the allowance are based upon management’s estimates and historical collection trends. The activity in