Goodwill and Other Intangible Assets

9 Months Ended

Jul. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

5.	Goodwill and other intangible assets

Changes in the carrying amount of goodwill for the nine months ended July 31, 2020 by operating segment are as follows:

	Industrial Precision Solutions		Advanced Technology Solutions		Total
Balance at October 31, 2019	$	411,461	$	1,203,278	$	1,614,739
Acquisitions		—		76,047		76,047
Currency effect		6,088		5,040		11,128
Balance at July 31, 2020	$	417,549	$	1,284,365	$	1,701,914

As part of our change in operating segments as described in Note 11, we considered whether the reporting units used for purposes of assessing impairment of goodwill should be changed and concluded that no changes were necessary.

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

	July 31, 2020
	Carrying Amount		Accumulated Amortization		Net Book Value
Customer relationships	$	503,804	$	203,589	$	300,215
Patent/technology costs		163,550		81,590		81,960
Trade name		98,691		46,553		52,138
Non-compete agreements		12,472		10,972		1,500
Other		1,401		1,397		4
Total	$	779,918	$	344,101	$	435,817

	October 31, 2019
	Carrying Amount		Accumulated Amortization		Net Book Value
Customer relationships	$	480,007	$	173,996	$	306,011
Patent/technology costs		154,735		71,663		83,072
Trade name		96,655		41,303		55,352
Non-compete agreements		11,540		10,406		1,134
Other		1,400		1,394		6
Total	$	744,337	$	298,762	$	445,575

Amortization expense for the three months ended July 31, 2020 and 2019 was $16,577 and $13,903, respectively. Amortization expense for the nine months ended July 31, 2020 and 2019 was $47,410 and $41,665, respectively. Refer to Note 3 for an explanation of the change in goodwill and intangible assets due to the Fluortek acquisition.