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Intangible Assets
 12 Months Ended
Oct. 31, 2014
Goodwill And Intangible Assets Disclosure [Abstract]  
Intangible Assets

NOTE 4:  Intangible Assets

Intangible assets at the end of fiscal 2014 and 2013 were as follows:

  

In Thousands

 

 

 

 

2014

 

 

2013

 

 

 

Weighted

 

 

Gross

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

Avg Years

 

 

Carrying

 

 

Accum.

 

 

Carrying

 

 

Accum.

 

 

 

Useful Life

 

 

Amount

 

 

Amort.

 

 

Amount

 

 

Amort.

 

 

Amortized Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Programs

 

16

 

 

$

619,175

 

 

$

251,199

 

 

$

726,049

 

 

$

251,437

 

 

Core technology

 

12

 

 

 

15,926

 

 

 

8,893

 

 

 

9,589

 

 

 

6,711

 

 

Patents and other

 

12

 

 

 

95,459

 

 

 

42,874

 

 

 

93,291

 

 

 

37,024

 

 

Total

 

 

 

 

$

730,560

 

 

$

302,966

 

 

$

828,929

 

 

$

295,172

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indefinite-lived Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trademark

 

 

 

 

$

43,783

 

 

 

 

 

 

$

47,192

 

 

 

 

 

 

 

Programs represent the valuation of systems or components sold under long-term supply agreements with aerospace companies, military contractors, and OEM manufacturers using similar technology.  The valuation of the program includes the values of the program-specific technology, the backlog of contracts, and the relationship with customers which lead to potential future contracts.  The valuation of the program is based upon its discounted cash flow at a market-based discount rate.

 

On September 3, 2014, the Board of Directors approved a plan to sell certain non-core business units.  These business units are reported as discontinued operations.  Based upon the estimated fair values, the Company recorded an estimated after-tax loss of $49.5 million in fiscal 2014 on the assets held for sale in discontinued operations, of which $12.9 million was recorded against intangible assets.

Amortization of intangible assets from continuing operations was $49,628,000, $46,361,000, and $44,976,000 in fiscal years 2014, 2013, and 2012, respectively.   Amortization of intangible assets related to discontinued operations was $8,813,000, $8,637,000 and $8,547,000 in fiscal years 2014, 2013, and 2012, respectively

Estimated amortization expense related to intangible assets for each of the next five fiscal years is as follows:

  

In Thousands

 

Fiscal Year

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015

 

 

 

 

 

 

 

 

$

43,335

 

 

2016

 

 

 

 

 

 

 

 

 

46,885

 

 

2017

 

 

 

 

 

 

 

 

 

46,097

 

 

2018

 

 

 

 

 

 

 

 

 

45,416

 

 

2019

 

 

 

 

 

 

 

 

 

43,852