Goodwill and Other Intangible Assets, Net

3 Months Ended

Feb. 02, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

4 Goodwill and Other Intangible Assets, Net

Goodwill

The changes in the carrying amount of goodwill by reportable segment for the first three months of fiscal 2024 were as follows:

(Dollars in millions)	Professional		Residential		Other		Total
Balance as of October 31, 2023	$	440.5	$	10.3	$	—	$	450.8
Translation adjustments	0.3		0.1		—		0.4
Balance as of February 2, 2024	$	440.8	$	10.4	$	—	$	451.2

Other Intangible Assets, Net

The components of other intangible assets, net as of February 2, 2024, February 3, 2023, and October 31, 2023 were as follows (dollars in millions):

February 2, 2024	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18.2	$	(16.2)	$	2.0
Customer-related	15.8	327.6		(112.7)		214.9
Developed technology	7.1	102.1		(65.6)		36.5
Trade names	13.7	10.7		(4.2)		6.5
Total finite-lived	13.6	458.6		(198.7)		259.9
Indefinite-lived - trade names		271.6		—		271.6
Total other intangible assets, net		$	730.2	$	(198.7)	$	531.5

February 3, 2023	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18.3	$	(15.5)	$	2.8
Non-compete agreements	5.5	6.9		(6.9)		—
Customer-related	16.0	321.3		(89.9)		231.4
Developed technology	7.1	102.1		(55.8)		46.3
Trade names	13.7	10.7		(3.6)		7.1
Backlog and other	0.6	5.7		(5.7)		—
Total finite-lived	13.4	465.0		(177.4)		287.6
Indefinite-lived - trade names		289.5		—		289.5
Total other intangible assets, net		$	754.5	$	(177.4)	$	577.1

October 31, 2023	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18.2	$	(16.0)	$	2.2
Non-compete agreements	5.5	6.9		(6.9)		—
Customer-related	15.8	327.5		(106.7)		220.8
Developed technology	7.1	102.0		(63.1)		38.9
Trade names	13.7	10.7		(4.0)		6.7
Backlog and other	0.6	5.7		(5.7)		—
Total finite-lived	13.3	471.0		(202.4)		268.6
Indefinite-lived - trade names		271.5		—		271.5
Total other intangible assets, net		$	742.5	$	(202.4)	$	540.1

Amortization expense for finite-lived intangible assets for the three months ended February 2, 2024 was $8.7 million. Amortization expense for finite-lived intangibles assets for the three months ended February 3, 2023 was $9.1 million. As of February 2, 2024, estimated amortization expense for the remainder of fiscal 2024 and succeeding fiscal years is as follows:

(Dollars in millions)	February 2, 2024
2024 (remaining)	$	25.8
2025	31.7
2026	30.5
2027	25.6
2028	22.3
2029	20.4
Thereafter	103.6
Total estimated amortization expense	$	259.9