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Goodwill and Intangible Assets | 9 Months Ended
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Jul. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill As a result of the change in reporting units effective in the first quarter of fiscal 2023, we estimated the fair value of our new reporting units and reallocated goodwill to the reporting units using a relative fair value method. No impairment of goodwill was identified for any period presented. The changes in the carrying amount of goodwill during the nine months ended July 31, 2023 were as follows:
| (in thousands)
Balance at October 31, 2022 | $ | 3,842,234 |
Additions | 28,503 |
Adjustments | 3,097 |
Effect of foreign currency translation | 14,026 |
Balance at July 31, 2023 | $ | 3,887,860 |
During the nine months ended July 31, 2023, we finalized certain estimates impacting total preliminary purchase consideration for certain acquisitions and recorded the resulting measurement period adjustments which increased goodwill. Intangible Assets Intangible assets as of July 31, 2023 consisted of the following:
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount
| (in thousands)
Core/developed technology | $ | 1,101,118 |  |  | $ | 866,708 |  |  | $ | 234,410 |
Customer relationships | 431,469 |  |  | 351,474 |  |  | 79,995 |
Contract rights intangible | 193,120 |  |  | 190,036 |  |  | 3,084 |
Trademarks and trade names | 52,825 |  |  | 36,736 |  |  | 16,089 |
Capitalized software development costs | 50,795 |  |  | 47,650 |  |  | 3,145 |
Total | $ | 1,829,327 |  |  | $ | 1,492,604 |  |  | $ | 336,723 |
Intangible assets as of October 31, 2022 consisted of the following:
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount
| (in thousands)
Core/developed technology | $ | 1,083,703 |  |  | $ | 813,226 |  |  | $ | 270,477 |
Customer relationships | 426,242 |  |  | 333,984 |  |  | 92,258 |
Contract rights intangible | 190,666 |  |  | 188,262 |  |  | 2,404 |
Trademarks and trade names | 52,795 |  |  | 34,054 |  |  | 18,741 |
Capitalized software development costs | 48,591 |  |  | 46,025 |  |  | 2,566 |
Total | $ | 1,801,997 |  |  | $ | 1,415,551 |  |  | $ | 386,446 |
Amortization expense related to intangible assets consisted of the following:
| Three Months Ended July 31, |  | Nine Months Ended July 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in thousands)
Core/developed technology | $ | 17,816 |  |  | $ | 18,603 |  |  | $ | 53,566 |  |  | $ | 45,180 |
Customer relationships | 5,801 |  |  | 6,322 |  |  | 17,314 |  |  | 20,819 |
Contract rights intangible | 558 |  |  | 727 |  |  | 1,320 |  |  | 2,180 |
Trademarks and trade names | 896 |  |  | 802 |  |  | 2,682 |  |  | 2,002 |
Capitalized software development costs(1) | 557 |  |  | 619 |  |  | 1,626 |  |  | 2,052 |
Total | $ | 25,628 |  |  | $ | 27,073 |  |  | $ | 76,508 |  |  | $ | 72,233 |
(1) Amortization of capitalized software development costs is included in cost of products revenue in the condensed consolidated statements of income. The following table presented the estimated future amortization of intangible assets as of July 31, 2023:
Fiscal year | (in thousands)
Remainder of fiscal 2023 | $ | 25,684 |
2024 | 93,465 |
2025 | 75,385 |
2026 | 61,840 |
2027 | 41,638 |
2028 and thereafter | 38,711 |
Total | $ | 336,723 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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