Goodwill and Other Intangible Assets, Net

6 Months Ended

Apr. 29, 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 $160.8 million and $184.2 million of 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 six 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	160,829		—		—		160,829
Translation adjustments	(1,033)		(158)		—		(1,191)
Balance as of April 29, 2022	$	570,875	$	10,443	$	—	$	581,318

Other Intangible Assets, Net

The components of other intangible assets, net as of April 29, 2022, April 30, 2021, and October 31, 2021 were as follows (in thousands):

April 29, 2022	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,269	$	(15,015)	$	3,254
Non-compete agreements	5.5	6,902		(6,870)		32
Customer-related	16.0	321,242		(72,197)		249,045
Developed technology	7.0	87,286		(47,975)		39,311
Trade names	13.7	10,714		(3,141)		7,573
Backlog and other	0.6	5,730		(4,879)		851
Total finite-lived	13.6	450,143		(150,077)		300,066
Indefinite-lived - trade names		289,542		—		289,542
Total other intangible assets, net		$	739,685	$	(150,077)	$	589,608

April 30, 2021	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,276	$	(14,304)	$	3,972
Non-compete agreements	5.5	6,908		(6,856)		52
Customer-related	18.2	239,838		(55,407)		184,431
Developed technology	7.0	87,551		(38,535)		49,016
Trade names	15.3	7,563		(2,792)		4,771
Backlog and other	0.6	4,390		(4,390)		—
Total finite-lived	14.6	364,526		(122,284)		242,242
Indefinite-lived - trade names		190,687		—		190,687
Total other intangible assets, net		$	555,213	$	(122,284)	$	432,929

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 and six months ended April 29, 2022 was $9.2 million and $15.6 million, respectively. Amortization expense for finite-lived intangible assets for the three and six months ended April 30, 2021 was $6.2 million and $11.1 million, respectively. Estimated amortization expense for the remainder of fiscal 2022 and succeeding fiscal years is as follows: fiscal 2022 (remainder), $17.4 million; fiscal 2023, $32.7 million; fiscal 2024, $30.8 million; fiscal 2025, $28.0 million; fiscal 2026, $26.9 million; fiscal 2027, $22.5 million; and after fiscal 2027, $141.8 million.