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Goodwill and Intangible Assets | 6 Months Ended
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Apr. 30, 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 six months ended April 30, 2024 are as follows:
| (in thousands)
Balance at October 31, 2023 | $ | 3,346,065 |
Additions | 82,729 |
Adjustments | 168 |
Effect of foreign currency translation | (1,538) |
Balance at April 30, 2024 | $ | 3,427,424 |
Intangible Assets Intangible assets as of April 30, 2024 consist of the following:
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Amount
| (in thousands)
Core/developed technology | $ | 899,242 |  |  | $ | 697,638 |  |  | $ | 201,604 |
Customer relationships | 311,390 |  |  | 238,812 |  |  | 72,578 |
Contract rights intangible | 176,214 |  |  | 173,535 |  |  | 2,679 |
Trademarks and trade names | 12,925 |  |  | 12,909 |  |  | 16 |
Total | $ | 1,399,771 |  |  | $ | 1,122,894 |  |  | $ | 276,877 |
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 April 30, |  | Six Months Ended April 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (in thousands)
Core/developed technology | $ | 12,963 |  |  | $ | 10,102 |  |  | $ | 24,926 |  |  | $ | 20,991 |
Customer relationships | 3,884 |  |  | 1,899 |  |  | 7,409 |  |  | 3,934 |
Contract rights intangible | 1,210 |  |  | 391 |  |  | 2,402 |  |  | 699 |
Trademarks and trade names | 4 |  |  | — |  |  | 8 |  |  | — |
Capitalized software development costs(1) | — |  |  | 510 |  |  | — |  |  | 1,069 |
Total | $ | 18,061 |  |  | $ | 12,902 |  |  | $ | 34,745 |  |  | $ | 26,693 |
(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 April 30, 2024:
Fiscal year | (in thousands)
Remainder of fiscal 2024 | $ | 35,619 |
2025 | 61,385 |
2026 | 51,060 |
2027 | 46,113 |
2028 | 31,381 |
2029 and thereafter | 51,319 |
Total | $ | 276,877 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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