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Goodwill and Intangible Assets
 9 Months Ended
Jul. 31, 2014
Intangible Assets [Abstract]  
Intangible Assets Disclosure [Text Block]
Intangible Assets

Goodwill

The table below reflects the changes in the carrying value of goodwill for the nine month period ending July 31, 2014:

    
 
October 31, 2013
 
Fair Value Valuation
 
July 31, 2014
Goodwill
$6,768
 
$10,773
 
$17,541


The increase in goodwill of $10,773 is the result of the completion of the fair value valuation of acquired intangible assets and property, plant and equipment and other purchase price adjustments related to the Contech acquisition of $3,330, which occurred during the second quarter of 2014 and the initial fair value valuation of acquired intangible assets and property, plant and equipment and other purchase price adjustments related to the Finnveden acquisition of $7,443, which occurred during the third quarter of 2014, that are detailed in Note 3.

Intangible Assets
The following table reflects intangible assets and related accumulated amortization:
 
 
 
 
 
 
 
 
 
 
July 31, 2014
 
 
Useful Life
 
Cost
 
Accumulated Amortization
 
Net
 
Trade Name (Albany-Chicago)
15 years
 
$
1,850

 
$
(195
)
 
$
1,655

 
Non-compete (Albany-Chicago)
2 years
 
744

 
(589
)
 
155

 
Customer Relationships (Albany-Chicago)
13 years
 
13,462

 
(1,617
)
 
11,845

 
Trade Name (Contech)
0.25 years
 
25

 
(25
)
 
—

 
Trademark (Contech)
10 years
 
166

 
(17
)
 
149

 
Developed Technology (Contech)
5 years
 
2,707

 
(541
)
 
2,166

 
Customer Relationships (FMS)
9 years
 
13,006

 
—

 
13,006

 
Customer Relationships (FMS)
12 years
 
7,176

 
—

 
7,176

 
Developed Technology (FMS)
11 years
 
3,588

 
—

 
3,588

 
 
 
 
$
42,724

 
$
(2,984
)
 
$
39,740

 
 
 
 
 
 
 
 
 
 
October 31, 2013
 
 
Useful Life
 
Cost
 
Accumulated Amortization
 
Net
 
Trade Name (Albany-Chicago)
15 years
 
$
1,850

 
$
(103
)
 
$
1,747

 
Non-compete (Albany-Chicago)
2 years
 
744

 
(310
)
 
434

 
Customer Relationships (Albany-Chicago)
13 years
 
13,462

 
(771
)
 
12,691

 
Trade Name (Contech)
0.25 years
 
25

 
(25
)
 
—

 
Trademark (Contech)
10 years
 
166

 
(4
)
 
162

 
Developed Technology (Contech)
5 years
 
2,707

 
(136
)
 
2,571

 
 
 
 
18,954

 
(1,349
)
 
17,605


Total amortization expense was $545 and $268 for the three months ended July 31, 2014 and July 31, 2013, respectively and $1,635 and $688 for the nine months ended July 31, 2014 and July 31, 2013, respectively. Amortization expense related to intangible assets for the fiscal years ending is estimated to be as follows:
        
Remainder of 2014
 
$
1,335

2015
 
4,148

2016
 
4,086

2017
 
4,086

2018
 
3,951

Thereafter
 
22,134

 
 
$
39,740