Goodwill and intangible assets

9 Months Ended

Jul. 31, 2011

Goodwill and intangible assets [Abstract]

Goodwill and intangible assets. On November 1, 2010 we completed the acquisition of Micromedics, Inc. that resulted in $13,312 of goodwill. On June 30, 2011 we completed the acquisition Constructiewerkhuizen G. Verbruggen NV that resulted in $8,461 of goodwill. The amount for Verbruggen is based on a preliminary purchase price allocation and may require subsequent adjustment as more information about the fair value of assets becomes available.

Changes in the carrying amount of goodwill for the nine months ended July 31, 2011 by operating segment are as follows.


	Adhesive		Advanced		Industrial
	Dispensing		Technology		Coating
	Systems		Systems		Systems		Total

Balance at October 31, 2010	$	33,783	$	313,543	$	—	$	347,326
Acquisition		8,461		13,312		—		21,773
Currency effect		183		325		—		508

Balance at July 31, 2011	$	42,427	$	327,180	$	—	$	369,607

			Accumulated goodwill impairment losses were $232,789 at July 31, 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:


			July 31, 2011

			Accumulated
	Carrying Amount		Amortization		Net Book Value

Patent costs	$	22,212	$	8,609	$	13,603
Customer relationships		39,115		10,972		28,143
Non-compete agreements		4,695		3,623		1,072
Core/developed technology		2,788		2,299		489
Trade name		6,850		1,345		5,505
Other		1,444		775		669

Total	$	77,104	$	27,623	$	49,481


			October 31, 2011

			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, the value of this trade name was $3,099.

			Amortization expense for the three months ended July 31, 2011 and 2010 was $1,652 and $1,862, respectively. Amortization expense for the nine months ended July 31, 2011 and 2010 was $5,699 and $4,895, 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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