Goodwill and intangible assets

6 Months Ended

Apr. 30, 2011

Goodwill and intangible assets [Abstract]

Goodwill and intangible assets. Changes in the carrying amount of goodwill for the six months ended April 30, 2011 by operating segment are as follows. On November 1, 2010 we completed the acquisition of Micromedics, Inc. that resulted in $13,312 of goodwill.


	Adhesive		Advanced		Industrial
	Dispensing		Technology		Coating
	Systems		Systems		Systems		Total


Balance at October 31, 2010	$	33,783	$	313,543	$	—	$	347,326
Acquisition		—		13,312		—		13,312
Currency effect		430		605		—		1,035

Balance at April 30, 2011	$	34,213	$	327,460	$	—	$	361,673

		Accumulated impairment losses were $232,789 at April 30, 2011 and October 31, 2010. These losses were recorded in 2009, with $229,173 related to the Advanced Technology Systems segment and $3,616 related to the Industrial Coating Systems segment.

		Information regarding our intangible assets subject to amortization is as follows:


	April 30, 2011
			Accumulated
	Carrying Amount		Amortization		Net Book Value


Patent costs	$	22,071	$	8,182	$	13,889
Customer relationships		36,583		10,228		26,355
Non-compete agreements		4,528		3,545		983
Core/developed technology		2,788		2,241		547
Trade name		6,462		1,281		5,181
Other		1,431		720		711

Total	$	73,863	$	26,197	$	47,666


	October 31, 2010
			Accumulated
	Carrying Amount		Amortization		Net Book Value


Patent costs	$	20,641	$	6,961	$	13,680
Customer relationships		30,630		8,273		22,357
Non-compete agreements		5,982		4,857		1,125
Core/developed technology		2,788		2,123		665
Trade name		1,684		479		1,205
Other		1,432		636		796

Total	$	63,157	$	23,329	$	39,828

		Effective November 1, 2010, the Dage trade name was converted from an indefinite-lived asset to a finite-lived asset with a remaining life of 20 years. At October 31, 2010, $3,099 of trademark and trade name intangible assets was not subject to amortization.

		Amortization expense for the three months ended April 30, 2011 and April 30, 2010 was $1,749 and $1,584, respectively. Amortization expense for the six months ended April 30, 2011 and April 30, 2010 was $4,047 and $3,033, respectively.

- Definition

Discloses 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 or 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. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.

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