Goodwill and Other Intangible Assets

12 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

5 Goodwill and Other Intangible Assets

The company's acquisition of Venture Products on March 2, 2020 resulted in the recognition of $61.2 million and $75.3 million of goodwill and other intangible assets, respectively. For additional information on the company's acquisition of Venture Products, refer to Note 2, Business Combinations and Asset Acquisitions.

Goodwill

The changes in the carrying amount of goodwill by reportable segment for fiscal 2021 and 2020 were as follows (in thousands):

	Professional		Residential		Other		Total
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
Purchase price allocation adjustment	(1,027)		—		—		(1,027)
Goodwill divested	—		—		(1,534)		(1,534)
Translation adjustments	45		121		—		166
Balance as of October 31, 2021	$	411,079	$	10,601	$	—	$	421,680

Other Intangible Assets

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

October 31, 2021	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,283	$	(14,670)	$	3,613
Non-compete agreements	5.5	6,914		(6,872)		42
Customer-related	18.2	239,679		(62,617)		177,062
Developed technology	7.0	87,473		(43,348)		44,125
Trade names	15.4	7,524		(2,969)		4,555
Backlog and other	0.6	4,390		(4,390)		—
Total finite-lived	14.6	364,263		(134,866)		229,397
Indefinite-lived - trade names		190,644		—		190,644
Total other intangible assets, net		$	554,907	$	(134,866)	$	420,041

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

Amortization expense for finite-lived intangible assets for the fiscal years ended October 31, 2021, 2020, and 2019 was $23.8 million, $19.5 million, and $18.4 million, respectively. Estimated amortization expense for the succeeding fiscal years is as follows: 2022, $24.2 million; 2023, $22.4 million; 2024, $21.4 million; 2025, $19.8 million; 2026, $19.0 million; and after 2026, $122.6 million.