Goodwill and Other Intangible Assets

12 Months Ended

Oct. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]


5			Goodwill and Other Intangible Assets

The company's acquisition of Venture Products on March 2, 2020 resulted in the recognition of $62.3 million and $75.3 million of preliminary goodwill and other intangible assets, respectively. The company's acquisition of CMW on April 1, 2019 resulted in the recognition of $134.7 million and $264.2 million of goodwill and other intangible assets, respectively. For additional information on the company's acquisitions of Venture Products and CMW, refer to Note 2, Business Combinations.

Goodwill

The changes in the carrying amount of goodwill by reportable segment for fiscal 2020 and 2019 were as follows (in thousands):


	Professional		Residential		Other		Total
Balance as of October 31, 2018	$	214,827	$	10,463	$	—	$	225,290
Goodwill acquired	135,524		—		1,534		137,058
Translation adjustments	(101)		6		—		(95)
Balance as of October 31, 2019	350,250		10,469		1,534		362,253
Goodwill acquired	62,252		—		—		62,252
Purchase price allocation adjustment	(866)		—		—		(866)
Translation adjustments	425		11		—		436
Balance as of October 31, 2020	$	412,061	$	10,480	$	1,534	$	424,075

Other Intangible Assets

The components of other intangible assets were as follows (in thousands, except weighted-average useful life in years):


October 31, 2020	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,257	$	(13,919)	$	4,338
Non-compete agreements	5.5	6,892		(6,831)		61
Customer-related	18.2	239,634		(48,005)		191,629
Developed technology	7.6	51,995		(35,208)		16,787
Trade names	15.4	7,530		(2,552)		4,978
Backlog and other	0.6	4,390		(4,390)		—
Total finite-lived	15.5	328,698		(110,905)		217,793
Indefinite-lived - trade names		190,512		—		190,512
Total other intangible assets, net		$	519,210	$	(110,905)	$	408,305


October 31, 2019	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,230	$	(13,102)	$	5,128
Non-compete agreements	5.5	6,868		(6,786)		82
Customer-related	18.4	220,390		(33,547)		186,843
Developed technology	7.6	51,911		(31,289)		20,622
Trade names	15.4	7,496		(2,109)		5,387
Backlog and other	0.6	4,390		(4,390)		—
Total finite-lived	15.5	309,285		(91,223)		218,062
Indefinite-lived - trade names		134,312		—		134,312
Total other intangible assets, net		$	443,597	$	(91,223)	$	352,374

Amortization expense for finite-lived intangible assets for the fiscal years ended October 31, 2020, 2019, and 2018 was $19.5 million, $18.4 million, and $7.3 million, respectively. Estimated amortization expense for the succeeding fiscal years is as follows: 2021, $19.5 million; 2022, $18.3 million; 2023, $16.5 million; 2024, $15.5 million; 2025, $13.9 million; and after 2025, $134.1 million.