Goodwill and Intangible Assets

6 Months Ended

Apr. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 6. Goodwill and Intangible Assets

The table below represents goodwill by segment:

	April 30, 2024		October 31, 2023
Specialty Vehicles	$	95.2	$	114.8
Recreational Vehicles		42.5		42.5
Total goodwill	$	137.7	$	157.3

The change in the net carrying value of goodwill consisted of the following:

	Six Months Ended April 30,
	2024			2023
Balance at beginning of period	$	157.3		$	157.3
Divestitures (Note 7)		(19.6	)		—
Balance at end of period	$	137.7		$	157.3

Intangible assets (excluding goodwill) consisted of the following:

	April 30, 2024
	Weighted- Average Life		Gross		Accumulated Amortization			Net
Finite-lived Customer Relationships		8	$	42.9	$	(35.9	)	$	7.0
Indefinite-lived trade names				91.3		—			91.3
Total intangible assets, net			$	134.2	$	(35.9	)	$	98.3

	October 31, 2023
	Weighted- Average Life		Gross		Accumulated Amortization			Net
Finite-lived Customer Relationships		8	$	43.7	$	(35.4	)	$	8.3
Indefinite-lived trade names				107.4		—			107.4
Total intangible assets, net			$	151.1	$	(35.4	)	$	115.7

The change in the net carrying value of indefinite-lived trade names consisted of the following:

	Six Months Ended April 30,
	2024			2023
Balance at beginning of period	$	107.4		$	107.4
Impairment (Note 8)		(7.2	)		—
Divestiture (Note 7)		(8.9	)		—
Balance at end of period	$	91.3		$	107.4

Amortization expense was $0.6 million and $1.0 million for the three months ended April 30, 2024 and April 30, 2023, respectively, and $1.2 million and $2.4 million for the six months ended April 30, 2024 and April 30, 2023, respectively. Estimated future amortization expense of finite-lived intangible assets for the remainder of fiscal year 2024 and each of the five fiscal years succeeding October 31, 2024 is as follows: 2024 (remaining six months) - $1.1 million; 2025 - $1.7 million; 2026 - $1.2 million; 2027 - $1.2 million; 2028 - $1.2 million; 2029 - $0.6 million, at which point all finite-lived intangible assets will be fully amortized. In connection with the discontinuation of manufacturing operations at the Company's ENC facility, the Company recorded an impairment charge of an indefinite-lived trade name of $7.2 million for the six months ended April 30, 2024, which was based on Level 3 inputs, as defined by ASC 820, Fair Value Measurements.