GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Apr. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill by operating segment for the six months ended April 30, 2025 are as follows (in thousands):

	Segment		Consolidated Totals
	FSG	ETG
Balances as of October 31, 2024	$1,882,558	$1,497,737	$3,380,295
Goodwill acquired	110,707	25,728	136,435
Foreign currency translation adjustments	2,245	11,124	13,369
Adjustments to goodwill	24	31	55
Balances as of April 30, 2025	$1,995,534	$1,534,620	$3,530,154

The goodwill acquired pertains to the fiscal 2025 acquisitions described in Note 2, Acquisitions, and represents the residual value after the allocation of the total consideration to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed. The Company estimates that $112 million of the goodwill acquired in fiscal 2025 will be deductible for income tax purposes. Foreign currency translation adjustments are included in other comprehensive income (loss) in the Company's Condensed Consolidated Statements of

Comprehensive Income. The adjustments to goodwill represent immaterial measurement period adjustments to the allocation of the purchase consideration of certain fiscal 2024 acquisitions.

Identifiable intangible assets consist of the following (in thousands):

	As of April 30, 2025			As of October 31, 2024
	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount
Amortizing Assets:
Customer relationships	$1,092,479	($340,628)	$751,851	$1,013,847	($307,531)	$706,316
Intellectual property	525,355	(152,814)	372,541	471,516	(137,188)	334,328
Other	8,640	(7,950)	690	8,575	(7,708)	867
	1,626,474	(501,392)	1,125,082	1,493,938	(452,427)	1,041,511
Non-Amortizing Assets:
Trade names	308,549	—	308,549	293,263	—	293,263
	$1,935,023	($501,392)	$1,433,631	$1,787,201	($452,427)	$1,334,774

    The increase in the gross carrying amount of customer relationships, intellectual property, and trade names as of April 30, 2025 compared to October 31, 2024 principally relates to such intangible assets recognized in connection with the fiscal 2025 acquisitions (see Note 2, Acquisitions).

Amortization expense related to intangible assets for the six months ended April 30, 2025 and 2024 was $67.0 million and $60.8 million, respectively. Amortization expense related to intangible assets for the three months ended April 30, 2025 and 2024 was $34.8 million and $30.6 million, respectively. Amortization expense related to intangible assets for the remainder of fiscal 2025 is estimated to be $68.9 million. Amortization expense for each of the next five fiscal years and thereafter is estimated to be $133.5 million in fiscal 2026, $128.4 million in fiscal 2027, $122.0 million in fiscal 2028, $116.1 million in fiscal 2029, $109.1 million in fiscal 2030, and $447.1 million thereafter.