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GOODWILL AND OTHER INTANGIBLE ASSETS
 6 Months Ended
Apr. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]
GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill by operating segment for the six months ended April 30, 2017 are as follows (in thousands):
 
 
Segment
 
Consolidated Totals
 
 
FSG
 
ETG
 
Balances as of October 31, 2016
 

$336,681

 

$529,036

 

$865,717

Goodwill acquired
 
47,524

 
—

 
47,524

Foreign currency translation adjustments
 
(237
)
 
(465
)
 
(702
)
Balances as of April 30, 2017
 

$383,968

 

$528,571

 

$912,539



The goodwill acquired pertains to the fiscal 2017 acquisition described in Note 2, Acquisition, and represents the residual value after the allocation of the total consideration to the tangible and identifiable intangible assets acquired and liabilities and noncontrolling interests assumed. Foreign currency translation adjustments are included in other comprehensive income (loss) in the Company's Condensed Consolidated Statements of Comprehensive Income. The Company estimates that the majority of the goodwill acquired in fiscal 2017 will be deductible for income tax purposes.

Identifiable intangible assets consist of the following (in thousands):
 
 
As of April 30, 2017
 
As of October 31, 2016
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Amortizing Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Customer relationships
 

$274,061

 

($101,265
)
 

$172,796

 

$248,271

 

($88,829
)
 

$159,442

Intellectual property
 
139,724

 
(38,593
)
 
101,131

 
139,817

 
(33,291
)
 
106,526

Licenses
 
6,559

 
(2,627
)
 
3,932

 
6,559

 
(2,325
)
 
4,234

Non-compete agreements
 
808

 
(808
)
 
—

 
811

 
(811
)
 
—

Patents
 
817

 
(505
)
 
312

 
779

 
(480
)
 
299

Trade names
 
466

 
(97
)
 
369

 
466

 
(77
)
 
389

 
 
422,435

 
(143,895
)
 
278,540

 
396,703

 
(125,813
)
 
270,890

Non-Amortizing Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Trade names
 
109,826

 
—

 
109,826

 
95,973

 
—

 
95,973

 
 

$532,261

 

($143,895
)
 

$388,366

 

$492,676

 

($125,813
)
 

$366,863



The increase in the gross carrying amount of customer relationships and non-amortizing trade names as of April 30, 2017 compared to October 31, 2016 principally relates to such intangible assets recognized in connection with the fiscal 2017 acquisition (see Note 2, Acquisition). The amortization period of the customer relationships acquired during fiscal 2017 is 15 years.

Amortization expense related to intangible assets for the six months ended April 30, 2017 and 2016 was $18.3 million and $17.6 million, respectively. Amortization expense related to intangible assets for the three months ended April 30, 2017 and 2016 was $9.1 million and $9.3 million, respectively. Amortization expense related to intangible assets for the remainder of fiscal 2017 is estimated to be $19.3 million. Amortization expense for each of the next five fiscal years and thereafter is estimated to be $36.7 million in fiscal 2018, $34.5 million in fiscal 2019, $31.8 million in fiscal 2020, $29.2 million in fiscal 2021, $24.1 million in fiscal 2022, and $102.9 million thereafter.