Goodwill and Intangible Assets

9 Months Ended

Jul. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill during the nine months ended July 31, 2024 are as follows:

	(in thousands)
Balance at October 31, 2023	$	3,346,065
Additions	97,521
Adjustments	173
Effect of foreign currency translation	590
Balance at July 31, 2024	$	3,444,349

Intangible Assets

Intangible assets as of July 31, 2024 consist of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)
Core/developed technology	$	904,381	$	711,119	$	193,262
Customer relationships	314,154		242,955		71,199
Contract rights intangible	176,343		174,724		1,619
Trademarks and trade names	12,925		12,913		12
Total	$	1,407,803	$	1,141,711	$	266,092

Intangible assets as of October 31, 2023 consist of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)
Core/developed technology	$	842,448	$	672,480	$	169,968
Customer relationships	296,883		231,557		65,326
Contract rights intangible	175,747		171,487		4,260
Trademarks and trade names	12,925		12,902		23
Capitalized software development costs	50,795		50,795		—
Total	$	1,378,798	$	1,139,221	$	239,577

Amortization expense related to intangible assets consists of the following:

	Three Months Ended   July 31,				Nine Months Ended   July 31,
	2024		2023		2024		2023
	(in thousands)
Core/developed technology	$	13,447	$	10,436	$	38,373	$	31,427
Customer relationships	4,058		2,011		11,467		5,945
Contract rights intangible	1,063		558		3,465		1,257
Trademarks and trade names	4		3		12		3
Capitalized software development costs(1)	—		557		—		1,626
Total	$	18,572	$	13,565	$	53,317	$	40,258

(1) Amortization of capitalized software development costs is included in cost of products revenue in the condensed consolidated statements of income.

The following table presents the estimated future amortization of acquired intangible assets as of July 31, 2024:

Fiscal year	(in thousands)
Remainder of fiscal 2024	$	17,344
2025	62,103
2026	51,778
2027	46,831
2028	32,099
2029 and thereafter	55,937
Total	$	266,092