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Other Intangible Assets
6 Months Ended
May 01, 2015
Other Intangible Assets  
Other Intangible Assets

 

 

Other Intangible Assets

 

The components of other intangible assets were as follows:

(Dollars in thousands)
May 1, 2015

 

Weighted-average
Life (Years)

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Patents

 

9.9

 

$

15,202

 

$

(9,821

)

$

5,381

 

Non-compete agreements

 

5.5

 

6,932

 

(5,930

)

1,002

 

Customer-related

 

19.1

 

84,606

 

(8,008

)

76,598

 

Developed technology

 

7.6

 

28,813

 

(18,853

)

9,960

 

Trade names

 

19.2

 

28,715

 

(1,995

)

26,720

 

Other

 

 

 

800

 

(800

)

 

Total amortizable

 

 

 

165,068

 

(45,407

)

119,661

 

Non-amortizable - trade names

 

 

 

4,881

 

 

4,881

 

Total other intangible assets, net

 

 

 

$

169,949

 

$

(45,407)

 

$

124,542

 

 

October 31, 2014

 

Weighted-average
Life (Years)

 

Gross Carrying
Amount

 

Accumulated
Amortization

 

Net

 

Patents

 

9.4

 

$

10,711

 

$

(8,942

)

$

1,769

 

Non-compete agreements

 

5.4

 

7,039

 

(5,315

)

1,724

 

Customer-related

 

10.7

 

8,650

 

(5,517

)

3,133

 

Developed technology

 

7.6

 

28,841

 

(16,869

)

11,972

 

Trade names

 

5.0

 

1,515

 

(1,165

)

350

 

Other

 

 

 

800

 

(800

)

 

Total amortizable

 

 

 

57,556

 

(38,608

)

18,948

 

Non-amortizable - trade names

 

 

 

4,881

 

 

4,881

 

Total other intangible assets, net

 

 

 

$

62,437

 

$

(38,608

)

$

23,829

 

 

 

During the second quarter of fiscal 2015, the company determined certain amortizable intangible assets were impaired based on its assessment that the carrying amount may not be recovered. Based on the company’s impairment analysis, the company wrote down $1.4 million of other intangible assets.

 

Amortization expense for intangible assets during the first six months of fiscal 2015 was $5.3 million. Estimated amortization expense for the remainder of fiscal 2015 and succeeding fiscal years is as follows: fiscal 2015 (remainder), $5.5 million; fiscal 2016, $10.4 million; fiscal 2017, $9.5 million; fiscal 2018, $7.4 million; fiscal 2019, $6.6 million; and after fiscal 2019, $80.3 million.