Goodwill and Other Intangible Assets

12 Months Ended

Oct. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

5 Goodwill and Other Intangible Assets

Impairment

Goodwill and indefinite-lived intangible assets are assessed for impairment at least annually during the fourth quarter of each fiscal year unless events or changes in circumstances indicate that impairment may have occurred prior to the annual assessment. Goodwill is assessed for impairment at the reporting unit level and the company's reporting units are its eight operating segments. Indefinite-lived intangible assets are assessed for impairment at the individual indefinite-lived intangible asset level.

During the third quarter of fiscal 2025, the company identified that future expected cash flows of the Spartan business were lower than previously expected primarily due to a decline in customer demand for many of its products associated with homeowners who prefer professional grade products.

Based on the above factors, the company concluded it was more likely than not that the indefinite-lived Spartan trade name intangible asset was impaired. As such, during the third quarter of fiscal 2025 the company performed a quantitative impairment analysis to compare the fair value of the Spartan trade name intangible asset with its respective carrying amount.

The fair value of the Spartan trade name intangible asset was determined using the relief-from-royalty method under the income approach which utilized various inputs and assumptions, including projected revenues from the company's projection process, assumed royalty rates that could be payable if the company did not own the intangible asset, terminal growth rates applied to projected revenues, applicable tax rates, and a discount rate. Inputs used to estimate the fair value included significant unobservable inputs that reflect the company’s assumptions about the inputs that market participants would use and, therefore, the fair value assessment is classified within Level 3 of the fair value hierarchy.

As a result of the analysis, during the third quarter of fiscal 2025, the company concluded that the indefinite-lived Spartan trade name intangible asset of $81.1 million, reported under the Professional segment, was fully impaired. The impairment charge is included in the Non-cash impairment charge caption on the Consolidated Statements of Earnings. The impairment charge resulted in a $19.7 million income tax benefit (deferred tax asset) associated with the remaining tax deductible basis in the intangible asset.

Goodwill

The changes in the carrying amount of goodwill by reportable segment for fiscal 2025 and 2024 were as follows (dollars in millions):

	Professional		Residential		Other		Total
Balance as of October 31, 2023	$	440.5	$	10.3	$	—	$	450.8
Goodwill divested	(0.5)		(0.5)		—		(1.0)
Translation adjustments	0.4		0.1		—		0.5
Balance as of October 31, 2024	440.4		9.9		—		450.3
Translation adjustments	0.5		0.1				0.6
Balance as of October 31, 2025	$	440.9	$	10.0	$	—	$	450.9

Other Intangible Assets

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

October 31, 2025	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.5	$	10.1	$	(9.3)	$	0.8
Customer-related	16.0	320.0		(147.6)		172.4
Developed technology	7.0	107.1		(83.3)		23.8
Trade names	12.9	9.6		(6.9)		2.7
Total finite-lived	13.6	446.8		(247.1)		199.7
Indefinite-lived - trade names		190.6		—		190.6
Total other intangible assets, net		$	637.4	$	(247.1)	$	390.3

October 31, 2024	Weighted-Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net
Patents	9.9	$	18.2	$	(16.7)	$	1.5
Customer-related	16.0	319.9		(128.0)		191.9
Developed technology	7.1	102.9		(72.9)		30.0
Trade names	13.7	10.7		(7.0)		3.7
Total finite-lived	13.7	451.7		(224.6)		227.1
Indefinite-lived - trade names		271.6		—		271.6
Total other intangible assets, net		$	723.3	$	(224.6)	$	498.7

Amortization expense for finite-lived intangible assets for the fiscal years ended October 31, 2025, 2024, and 2023 was $30.7 million, $34.5 million, and $35.7 million, respectively. Estimated amortization expense for the succeeding fiscal years is as follows (dollars in millions):

Succeeding fiscal year	Estimated amortization expense
2026	$	29.7
2027	24.7
2028	22.0
2029	20.9
2030	19.6
Thereafter	82.8
Total estimated amortization expense	$	199.7