Goodwill And Other Intangible Assets

12 Months Ended

Oct. 25, 2013

Goodwill And Other Intangible Assets [Abstract]

NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the fiscal years ended October 25, 2013 and October 26, 2012 are as follows:


		Coatings			Paints		Other			Total
Balance, October 28, 2011	$	789,306		$	244,438	$	24,262		$	1,058,006
Currency translation gain (loss)		(4,918	)		905		2,676			(1,337	)
Balance, October 26, 2012	$	784,388		$	245,343	$	26,938		$	1,056,669
Goodwill acquired		73,507			17,557		—			91,064
Currency translation gain (loss)		(5,860	)		3,217		(420	)		(3,063	)
Balance, October 25, 2013	$	852,035		$	266,117	$	26,518		$	1,144,670

Information regarding our other intangible assets is as follows:


	Estimated		Carrying		Accumulated
	Useful Life		Amount		Amortization			Net
Balance, October 25, 2013
Customer lists	20 to 40 years	$	285,104	$	(60,925	)	$	224,179
Technology	Indefinite		177,877		—			177,877
Trademarks	Indefinite		204,117		—			204,117
Other	10 to 40 years		14,638		(11,821	)		2,817
Total		$	681,736	$	(72,746	)	$	608,990
Balance, October 26, 2012
Customer lists	20 to 40 years	$	253,349	$	(54,047	)	$	199,302
Technology	Indefinite		169,690		—			169,690
Trademarks	Indefinite		178,070		—			178,070
Other	10 to 40 years		14,706		(11,662	)		3,044
Total		$	615,815	$	(65,709	)	$	550,106

The increase in total intangible assets during fiscal year 2013 is due to customer lists, trademarks and acquired technology recognized in the Inver Group acquisition valued at $29,181, $22,416 and $6,367, respectively. The acquired customer lists are being amortized over 20 years from the date of acquisition.

During the fourth quarter of 2013 and 2012, we completed our annual goodwill and indefinite-lived intangible asset impairment reviews with no impairments to the carrying values identified.

Amortization lives are based on management's estimates. Amortization lives for intangible assets range from 10 to 40 years. The remaining life averages for assets included in the customer lists and other categories were 28 years and 37 years, respectively.

Total intangible asset amortization expense was $7,037, $6,553, and $7,638 in 2013, 2012, and 2011, respectively. Estimated amortization expense for each of the five succeeding fiscal years is approximately $9,000 annually.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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