Goodwill and Other Intangible Assets

3 Months Ended

Jan. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the changes in the carrying amount of goodwill by segment for the three month period ended January 31, 2018:



(in millions)	Rigid Industrial Packaging & Services		Paper Packaging & Services		Total
Balance at October 31, 2017	$	725.9	$	59.5	$	785.4
Currency translation	22.6		—		22.6
Balance at January 31, 2018	$	748.5	$	59.5	$	808.0

The following table summarizes the carrying amount of net other intangible assets by class as of January 31, 2018 and October 31, 2017:



(in millions)	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
January 31, 2018:
Indefinite lived:
Trademarks and patents	$	13.8	$	—	$	13.8
Definite lived:
Customer relationships	$	170.0	$	101.9	$	68.1
Trademarks and patents	11.6		5.1		6.5
Other	24.8		17.3		7.5
Total	$	220.2	$	124.3	$	95.9

October 31, 2017:
Indefinite lived:
Trademarks and patents	$	13.4	$	—	$	13.4
Definite lived:
Customer relationships	$	170.2	$	99.7	$	70.5
Trademarks and patents	11.6		4.9		6.7
Other	23.4		16.0		7.4
Total	$	218.6	$	120.6	$	98.0

Amortization expense for the three months ended January 31, 2018 and 2017 was $3.8 million and $3.8 million, respectively. Amortization expense for the next five years is expected to be $15.4 million in 2018, $15.0 million in 2019, $14.5 million in 2020, $12.8 million in 2021 and $8.9 million in 2022.

Definite lived intangible assets for the periods presented are subject to amortization and are being amortized using the straight-line method over periods that are contractually, legally determined, or over the period a market participant would benefit from the asset.

- 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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