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Goodwill and Other Intangible Assets | 12 Months Ended
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Oct. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets |
5 | Goodwill and Other Intangible Assets
The company's acquisition of Venture Products on March 2, 2020 resulted in the recognition of $61.2 million and $75.3 million of goodwill and other intangible assets, respectively. For additional information on the company's acquisition of Venture Products, refer to Note 2, Business Combinations and Asset Acquisitions. Goodwill The changes in the carrying amount of goodwill by reportable segment for fiscal 2021 and 2020 were as follows (in thousands):
|  | Professional |  | Residential |  | Other |  | Total
Balance as of October 31, 2019 |  | $ | 350,250 |  |  | $ | 10,469 |  |  | $ | 1,534 |  |  | $ | 362,253 |
Goodwill acquired |  | 62,252 |  |  | — |  |  | — |  |  | 62,252 |
Purchase price allocation adjustment |  | (866) |  |  | — |  |  | — |  |  | (866) |
Translation adjustments |  | 425 |  |  | 11 |  |  | — |  |  | 436 |
Balance as of October 31, 2020 |  | 412,061 |  |  | 10,480 |  |  | 1,534 |  |  | 424,075 |
Purchase price allocation adjustment |  | (1,027) |  |  | — |  |  | — |  |  | (1,027) |
Goodwill divested |  | — |  |  | — |  |  | (1,534) |  |  | (1,534) |
Translation adjustments |  | 45 |  |  | 121 |  |  | — |  |  | 166 |
Balance as of October 31, 2021 |  | $ | 411,079 |  |  | $ | 10,601 |  |  | $ | — |  |  | $ | 421,680 |
Other Intangible Assets The components of other intangible assets were as follows (in thousands, except weighted-average useful life in years):
October 31, 2021 |  | Weighted-Average Useful Life in Years |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Patents |  | 9.9 |  | $ | 18,283 |  |  | $ | (14,670) |  |  | $ | 3,613 |
Non-compete agreements |  | 5.5 |  | 6,914 |  |  | (6,872) |  |  | 42 |
Customer-related |  | 18.2 |  | 239,679 |  |  | (62,617) |  |  | 177,062 |
Developed technology |  | 7.0 |  | 87,473 |  |  | (43,348) |  |  | 44,125 |
Trade names |  | 15.4 |  | 7,524 |  |  | (2,969) |  |  | 4,555 |
Backlog and other |  | 0.6 |  | 4,390 |  |  | (4,390) |  |  | — |
Total finite-lived |  | 14.6 |  | 364,263 |  |  | (134,866) |  |  | 229,397 |
Indefinite-lived - trade names |  |  |  | 190,644 |  |  | — |  |  | 190,644 |
Total other intangible assets, net |  |  |  | $ | 554,907 |  |  | $ | (134,866) |  |  | $ | 420,041 |
October 31, 2020 |  | Weighted-Average Useful Life in Years |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Patents |  | 9.9 |  | $ | 18,257 |  |  | $ | (13,919) |  |  | $ | 4,338 |
Non-compete agreements |  | 5.5 |  | 6,892 |  |  | (6,831) |  |  | 61 |
Customer-related |  | 18.2 |  | 239,634 |  |  | (48,005) |  |  | 191,629 |
Developed technology |  | 7.6 |  | 51,995 |  |  | (35,208) |  |  | 16,787 |
Trade names |  | 15.4 |  | 7,530 |  |  | (2,552) |  |  | 4,978 |
Backlog and other |  | 0.6 |  | 4,390 |  |  | (4,390) |  |  | — |
Total finite-lived |  | 15.5 |  | 328,698 |  |  | (110,905) |  |  | 217,793 |
Indefinite-lived - trade names |  |  |  | 190,512 |  |  | — |  |  | 190,512 |
Total other intangible assets, net |  |  |  | $ | 519,210 |  |  | $ | (110,905) |  |  | $ | 408,305 |
Amortization expense for finite-lived intangible assets for the fiscal years ended October 31, 2021, 2020, and 2019 was $23.8 million, $19.5 million, and $18.4 million, respectively. Estimated amortization expense for the succeeding fiscal years is as follows: 2022, $24.2 million; 2023, $22.4 million; 2024, $21.4 million; 2025, $19.8 million; 2026, $19.0 million; and after 2026, $122.6 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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