Goodwill and Acquired Intangible Assets

3 Months Ended

Jan. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

All of the Company’s goodwill is recorded in the Engineered Products segment. The change in the carrying amount of goodwill for the period ended January 31, 2013 is as follows (in thousands):



	Engineered Products Goodwill
Balance at October 31, 2012	$	68,331
Alumco acquisition	2,477
Foreign currency translation adjustment	701
Balance at January 31, 2013	$	71,509

Acquired Intangible Assets

Intangible assets consist of the following (in thousands):



	As of January 31, 2013					As of October 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Customer relationships	$	52,768	$	(12,600	)	$	43,737	$	(11,675	)
Trademarks and trade names	44,700		(15,302		)	44,519		(14,520		)
Patents and other technology	25,219		(9,880		)	24,773		(9,382		)
Other	1,392		(534		)	1,392		(464		)
Total	$	124,079	$	(38,316	)	$	114,421	$	(36,041	)

The intangible assets as of January 31, 2013 include customer relationships of $8.7 million and technology of $0.2 million related to the Alumco acquisition. These assets have estimated useful lives of 10 and 3 years, respectively. (See Note 3 for further information about the acquisition.)

The aggregate amortization expense for the three months ended January 31, 2013 and 2012 was $2.2 million and $2.1 million, respectively. Estimated amortization expense for the next five years for existing intangibles follows (in thousands):



Fiscal Years Ending October 31,	Estimated Amortization
	(In thousands)
2013 (remaining nine months)	$	6,857
2014	$	9,049
2015	$	8,918
2016	$	8,647
2017	$	8,541

- 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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