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GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
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Oct. 31, 2023
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 during fiscal 2023 and 2022 are as follows (in thousands):
| Segment |  | Consolidated
| FSG |  | ETG |  | Totals
Balances as of October 31, 2021 | $468,288 |  |  | $982,107 |  |  | $1,450,395 |
Goodwill acquired | 106,919 |  |  | 137,123 |  |  | 244,042 |
Foreign currency translation adjustments | (6,335) |  |  | (8,672) |  |  | (15,007) |
Adjustments to goodwill | (6,911) |  |  | (94) |  |  | (7,005) |
Balances as of October 31, 2022 | 561,961 |  |  | 1,110,464 |  |  | 1,672,425 |
Goodwill acquired | 1,260,507 |  |  | 335,630 |  |  | 1,596,137 |
Foreign currency translation adjustments | 2,793 |  |  | 2,394 |  |  | 5,187 |
Adjustments to goodwill | (956) |  |  | 1,534 |  |  | 578 |
Balances as of October 31, 2023 | $1,824,305 |  |  | $1,450,022 |  |  | $3,274,327 |
The goodwill acquired during fiscal 2023 and 2022 pertains to the acquisitions consummated in those respective years as described in Note 2, Acquisitions, 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 Consolidated Statements of Comprehensive Income. The adjustments to goodwill in fiscal 2023 represent immaterial measurement period adjustments to the purchase consideration of certain fiscal 2022 acquisitions. The adjustments to goodwill in fiscal 2022 principally reflect a measurement period adjustment of the write-up to fair value of property, plant and equipment associated with a fiscal 2021 acquisition. The Company estimates that $131 million and $98 million of the goodwill acquired in fiscal 2023 and 2022, respectively, will be deductible for income tax purposes. Based on the annual test for goodwill impairment as of October 31, 2023, the Company determined there was no impairment of its goodwill. Identifiable intangible assets consist of the following (in thousands):
| As of October 31, 2023 |  | As of October 31, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Amortizing Assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $967,090 |  |  | ($227,089) |  |  | $740,001 |  |  | $539,529 |  |  | ($208,127) |  |  | $331,402 |
Intellectual property | 448,336 |  |  | (121,503) |  |  | 326,833 |  |  | 284,171 |  |  | (98,983) |  |  | 185,188 |
Other | 8,685 |  |  | (7,404) |  |  | 1,281 |  |  | 8,700 |  |  | (7,017) |  |  | 1,683 |
| 1,424,111 |  |  | (355,996) |  |  | 1,068,115 |  |  | 832,400 |  |  | (314,127) |  |  | 518,273 |
Non-Amortizing Assets: |  |  |  |  |  |  |  |  |  |  |
Trade names | 289,166 |  |  | — |  |  | 289,166 |  |  | 215,054 |  |  | — |  |  | 215,054 |
| $1,713,277 |  |  | ($355,996) |  |  | $1,357,281 |  |  | $1,047,454 |  |  | ($314,127) |  |  | $733,327 |
The increase in the gross carrying amount of customer relationships, intellectual property and trade names as of October 31, 2023 compared to October 31, 2022 principally relates to such intangible assets recognized in connection with the fiscal 2023 acquisitions (see Note 2, Acquisitions), net of the write-off of fully amortized customer relationship intangible assets previously recognized in connection with certain historical acquisitions and an immaterial partial impairment of the trade name of a fiscal 2022 FSG acquisition. Amortization expense related to intangible assets was $85.9 million, $62.5 million and $61.3 million in fiscal 2023, 2022 and 2021, respectively. Amortization expense for each of the next five fiscal years and thereafter is estimated to be $117.6 million in fiscal 2024, $112.0 million in fiscal 2025, $106.4 million in fiscal 2026, $102.1 million in fiscal 2027, $96.7 million in fiscal 2028 and $533.3 million thereafter.

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