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Goodwill and Other Intangible Assets, Net | 6 Months Ended
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May 01, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets, Net |
5 | Goodwill and Other Intangible Assets, Net
The company's acquisition of Venture Products on March 2, 2020 resulted in the recognition of $65.2 million and $75.3 million of preliminary goodwill and other intangible assets, respectively. For additional information on the company's acquisition of Venture Products, refer to Note 2, Business Combinations. Goodwill The changes in the carrying amount of goodwill by reportable segment for the first six months of fiscal 2020 were as follows:
(Dollars in thousands) |  | Professional |  | Residential |  | Other |  | Total
Balance as of October 31, 2019 |  | $ | 350,250 |  |  | $ | 10,469 |  |  | $ | 1,534 |  |  | $ | 362,253 |
Goodwill acquired |  | 65,185 |  |  | — |  |  | — |  |  | 65,185 |
Purchase price allocation adjustment |  | (866 | ) |  | — |  |  | — |  |  | (866 | )
Translation adjustments |  | (318 | ) |  | (79 | ) |  | — |  |  | (397 | )
Balance as of May 1, 2020 |  | $ | 414,251 |  |  | $ | 10,390 |  |  | $ | 1,534 |  |  | $ | 426,175 |
Other Intangible Assets, Net The components of other intangible assets, net as of May 1, 2020 were as follows:
(Dollars in thousands) |  | Weighted-Average Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Patents |  | 9.9 |  | $ | 18,227 |  |  | $ | (13,494 | ) |  | $ | 4,733 |
Non-compete agreements |  | 5.5 |  | 6,865 |  |  | (6,794 | ) |  | 71 |
Customer-related |  | 18.2 |  | 239,383 |  |  | (40,555 | ) |  | 198,828 |
Developed technology |  | 7.6 |  | 51,854 |  |  | (33,199 | ) |  | 18,655 |
Trade names |  | 15.4 |  | 7,476 |  |  | (2,304 | ) |  | 5,172 |
Backlog and other |  | 0.6 |  | 4,390 |  |  | (4,390 | ) |  | — |
Total finite-lived |  | 15.5 |  | 328,195 |  |  | (100,736 | ) |  | 227,459 |
Indefinite-lived - trade names |  |  |  | 190,427 |  |  | — |  |  | 190,427 |
Total other intangible assets, net |  |  |  | $ | 518,622 |  |  | $ | (100,736 | ) |  | $ | 417,886 |
The components of other intangible assets, net as of May 3, 2019 were as follows:
(Dollars in thousands) |  | Weighted-Average Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Patents |  | 9.9 |  | $ | 18,254 |  |  | $ | (12,728 | ) |  | $ | 5,526 |
Non-compete agreements |  | 5.5 |  | 6,889 |  |  | (6,797 | ) |  | 92 |
Customer-related |  | 18.3 |  | 201,022 |  |  | (26,719 | ) |  | 174,303 |
Developed technology |  | 7.6 |  | 50,338 |  |  | (29,292 | ) |  | 21,046 |
Trade names |  | 15.5 |  | 7,599 |  |  | (1,903 | ) |  | 5,696 |
Other |  | 0.6 |  | 7,380 |  |  | (1,897 | ) |  | 5,483 |
Total finite-lived |  | 15.1 |  | 291,482 |  |  | (79,336 | ) |  | 212,146 |
Indefinite-lived - trade names |  |  |  | 121,031 |  |  | — |  |  | 121,031 |
Total other intangible assets, net |  |  |  | $ | 412,513 |  |  | $ | (79,336 | ) |  | $ | 333,177 |
The components of other intangible assets, net as of October 31, 2019 were as follows:
(Dollars in thousands) |  | Weighted-Average Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Patents |  | 9.9 |  | $ | 18,230 |  |  | $ | (13,102 | ) |  | $ | 5,128 |
Non-compete agreements |  | 5.5 |  | 6,868 |  |  | (6,786 | ) |  | 82 |
Customer-related |  | 18.4 |  | 220,390 |  |  | (33,547 | ) |  | 186,843 |
Developed technology |  | 7.6 |  | 51,911 |  |  | (31,289 | ) |  | 20,622 |
Trade names |  | 15.4 |  | 7,496 |  |  | (2,109 | ) |  | 5,387 |
Other |  | 0.6 |  | 4,390 |  |  | (4,390 | ) |  | — |
Total finite-lived |  | 15.5 |  | 309,285 |  |  | (91,223 | ) |  | 218,062 |
Indefinite-lived - trade names |  |  |  | 134,312 |  |  | — |  |  | 134,312 |
Total other intangible assets, net |  |  |  | $ | 443,597 |  |  | $ | (91,223 | ) |  | $ | 352,374 |
Amortization expense for finite-lived intangible assets during the second quarter of fiscal 2020 and fiscal 2019 was $4.9 million and $3.7 million, respectively. Amortization expense for finite-lived intangible assets during the first six months of fiscal 2020 and 2019 was $9.6 million and $5.5 million, respectively. Estimated amortization expense for the remainder of fiscal 2020 and succeeding fiscal years is as follows: fiscal 2020 (remainder), $9.9 million; fiscal 2021, $19.5 million; fiscal 2022, $18.2 million; fiscal 2023, $16.5 million; fiscal 2024, $15.4 million; fiscal 2025, $13.8 million; and after fiscal 2025, $134.2 million.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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