Intangible Assets

12 Months Ended

Oct. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4. Intangible Assets

Goodwill

The Company has three reporting units: CooperVision and within the CooperSurgical segment, Office/Surgical and Fertility, reflecting the current way the Company manages its business. There was no impairment of goodwill in its reporting units in fiscal 2024, 2023, and 2022.


(In millions)	CooperVision		CooperSurgical		Total




Balance at October 31, 2023	$	1,747.6	$	1,876.9	$	3,624.5
Net additions	—		157.8		157.8

Foreign currency translation adjustment	50.2		5.9		56.1
Balance at October 31, 2024	$	1,797.8	$	2,040.6	$	3,838.4

Of the October 31, 2024, goodwill balance, $311.5 million for CooperSurgical and $17.8 million for CooperVision is expected to be deductible for tax purposes. Of the October 31, 2023, goodwill balance, $237.6 million for CooperSurgical and $20.1 million for CooperVision was expected to be deductible for tax purposes.

Other Intangible Assets


	October 31, 2024				October 31, 2023
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted-average Amortization Period (in years)
Intangible assets with definite lives:
Trademarks	$	204.2	$	90.6	$	208.9	$	81.1	15
Composite intangible assets (1)	1,101.6		496.8		1,061.9		424.8		15
Technology	706.4		384.3		494.5		335.4		11
Customer relationships	1,130.5		402.5		1,099.2		345.8		19
License and distribution rights and other	47.9		27.2		51.6		28.0		11
	3,190.6		$	1,401.4	2,916.1		$	1,215.1	16
Less: accumulated amortization and translation	1,401.4				1,215.1
Intangible assets with definite lives, net	$	1,789.2			$	1,701.0
Intangible assets with indefinite lives, net (2)	1.8				9.3
Total other intangibles, net	$	1,791.0			$	1,710.3

(1) Composite intangible assets primarily consist of technology, trade name, New Drug Application approval and physician relationships. The components are not reflected separately or within the corresponding categories because they are inextricably linked.

(2) Intangible assets with indefinite lives include technology and trademarks.

Balances include foreign currency translation adjustments.

As of October 31, 2024, the estimate of future amortization expenses for intangible assets with definite lives is as follows:


Fiscal years:	(In millions)
2025	$	197.7
2026	190.1
2027	175.8
2028	171.3
2029	167.2
Thereafter	887.1
Total remaining amortization for intangible assets with definite lives	$	1,789.2

The Company performed its annual impairment assessment in the third quarter of fiscal 2024 and concluded there was no material impairment to the Company's definite-lived or indefinite-lived intangible assets during fiscal 2024.

In the fourth quarter of fiscal 2023, CooperVision fully impaired some intangible assets associated with the discontinuation of certain products. The carrying value of these intangible assets were immaterial. There was no impairment to the Company's definite-lived or indefinite-lived intangible assets during fiscal 2022.