Goodwill and Other Intangible Assets, Net

3 Months Ended

Jan. 28, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

5 Goodwill and Other Intangible Assets, Net

The company's acquisition of Intimidator on January 13, 2022 resulted in the recognition of $155.6 million and $185.9 million of preliminary goodwill and other intangible assets, respectively. For additional information on the company's acquisition of Intimidator, refer to Note 2, Business Combination.

Goodwill

The changes in the carrying amount of goodwill by reportable segment for the first three months of fiscal 2022 were as follows:

(Dollars in thousands)	Professional		Residential		Other		Total
Balance as of October 31, 2021	$	411,079	$	10,601	$	—	$	421,680
Goodwill acquired	155,638		—		—		155,638
Translation adjustments	(321)		(57)		—		(378)
Balance as of January 28, 2022	$	566,396	$	10,544	$	—	$	576,940

Other Intangible Assets, Net

The components of other intangible assets, net as of January 28, 2022, January 29, 2021, and October 31, 2021 were as follows (in thousands):

January 28, 2022	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,291	$	(14,858)	$	3,433
Non-compete agreements	5.5	6,921		(6,885)		36
Customer-related	16.0	322,296		(66,325)		255,971
Developed technology	7.0	87,427		(45,748)		41,679
Trade names	13.7	10,762		(3,038)		7,724
Backlog and other	0.7	6,640		(4,390)		2,250
Total finite-lived	13.5	452,337		(141,244)		311,093
Indefinite-lived - trade names		289,704		—		289,704
Total other intangible assets, net		$	742,041	$	(141,244)	$	600,797

January 29, 2021	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,275	$	(14,123)	$	4,152
Non-compete agreements	5.5	6,908		(6,851)		57
Customer-related	18.2	239,816		(51,747)		188,069
Developed technology	7.7	59,017		(36,230)		22,787
Trade names	15.3	7,563		(2,684)		4,879
Backlog and other	0.6	4,390		(4,390)		—
Total finite-lived	15.3	335,969		(116,025)		219,944
Indefinite-lived - trade names		190,643		—		190,643
Total other intangible assets, net		$	526,612	$	(116,025)	$	410,587

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

Amortization expense for finite-lived intangible assets for the three months ended January 28, 2022 and January 29, 2021 were $6.5 million and $4.9 million, respectively. Estimated amortization expense for the remainder of fiscal 2022 and succeeding fiscal years is as follows: fiscal 2022 (remainder), $27.2 million; fiscal 2023, $32.7 million; fiscal 2024, $30.7 million; fiscal 2025, $28.2 million; fiscal 2026, $27.2 million; fiscal 2027, $22.7 million; and after fiscal 2027, $142.4 million.