Goodwill and Other Intangible Assets, Net

9 Months Ended

Jul. 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 $163.7 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 Combinations and Asset Acquisitions.

Goodwill

The changes in the carrying amount of goodwill by reportable segment for the first nine 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	163,731		—		—		163,731
Translation adjustments	(1,395)		(213)		—		(1,608)
Balance as of July 29, 2022	$	573,415	$	10,388	$	—	$	583,803

Other Intangible Assets, Net

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

July 29, 2022	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,252	$	(15,178)	$	3,074
Non-compete agreements	5.5	6,887		(6,861)		26
Customer-related	16.0	321,113		(78,017)		243,096
Developed technology	7.1	102,013		(50,412)		51,601
Trade names	13.7	10,689		(3,267)		7,422
Backlog and other	0.6	5,730		(5,280)		450
Total finite-lived	13.4	464,684		(159,015)		305,669
Indefinite-lived - trade names		289,472		—		289,472
Total other intangible assets, net		$	754,156	$	(159,015)	$	595,141

July 30, 2021	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18,275	$	(14,482)	$	3,793
Non-compete agreements	5.5	6,908		(6,861)		47
Customer-related	18.2	239,762		(59,017)		180,745
Developed technology	7.0	87,512		(40,943)		46,569
Trade names	15.3	7,544		(2,882)		4,662
Backlog and other	0.6	4,390		(4,390)		—
Total finite-lived	14.6	364,391		(128,575)		235,816
Indefinite-lived - trade names		190,681		—		190,681
Total other intangible assets, net		$	555,072	$	(128,575)	$	426,497

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 nine months ended July 29, 2022 was $9.1 million and $24.8 million, respectively. Amortization expense for finite-lived intangible assets for the three and nine months ended July 30, 2021 was $6.4 million and $17.5 million, respectively. Estimated amortization expense for the remainder of fiscal 2022 and succeeding fiscal years is as follows: fiscal 2022 (remainder), $9.1 million; fiscal 2023, $34.9 million; fiscal 2024, $33.0 million; fiscal 2025, $30.1 million; fiscal 2026, $29.0 million; fiscal 2027, $24.0 million; and after fiscal 2027, $145.6 million.