Goodwill and Other Intangible Assets

3 Months Ended

Feb. 03, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the net carrying amount of goodwill for the first three months of fiscal 2017 were as follows:



(Dollars in thousands)	Professional Segment		Residential Segment		Total
Balance as of October 31, 2016	$	184,338	$	10,444	$	194,782
Goodwill acquired	6,151		—		6,151
Translation adjustments	268		45		313
Balance as of February 3, 2017	$	190,757	$	10,489	$	201,246

The components of other intangible assets as of February 3, 2017 were as follows:



(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	15,142	$	(11,040	)	$	4,102
Non-compete agreements	6,879		(6,742		)	137
Customer-related	87,285		(15,517		)	71,768
Developed technology	30,058		(24,519		)	5,539
Trade names	29,469		(4,575		)	24,894
Other	800		(800		)	—
Total amortizable	169,633		(63,193		)	106,440
Non-amortizable - trade names	4,342		—			4,342
Total other intangible assets, net	$	173,975	$	(63,193	)	$	110,782

The components of other intangible assets as of October 31, 2016 were as follows:



(Dollars in thousands)	Gross Carrying Amount		Accumulated Amortization			Net
Patents	$	15,151	$	(10,866	)	$	4,285
Non-compete agreements	6,886		(6,681		)	205
Customer-related	84,353		(14,434		)	69,919
Developed technology	28,648		(23,712		)	4,936
Trade names	28,715		(4,235		)	24,480
Other	800		(800		)	—
Total amortizable	164,553		(60,728		)	103,825
Non-amortizable - trade names	4,268		—			4,268
Total other intangible assets, net	$	168,821	$	(60,728	)	$	108,093

Amortization expense for intangible assets during the first three months of fiscal 2017 was $2.4 million, compared to $3.2 million for the same period last fiscal year. Estimated amortization expense for the remainder of fiscal 2017 and succeeding fiscal years is as follows: fiscal 2017 (remainder), $7.5 million; fiscal 2018, $8.0 million; fiscal 2019, $7.1 million; fiscal 2020, $6.5 million; fiscal 2021, $6.1 million; fiscal 2022, $6.0 million; and after fiscal 2022, $65.2 million.

- Definition

The entire disclosure for 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 (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.

+ References + Details