Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets

3 Months Ended

Jan. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill is tested for impairment on an annual basis or when an event or changes in circumstances indicate that its carrying value may not be recoverable. There have been no impairment charges recorded against goodwill as of January 31, 2020.

Intangible assets consisted of the following as of January 31, 2020 and October 31, 2019 (in thousands):



	January 31, 2020								October 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life in Years	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Useful Life in Years

Trade names and trademarks	$	3,786	$	(652	)	$	3,134	10	$	3,786	$	(542	)	$	3,244	10
Customer relationships	5,010		(648		)	4,362		9	5,010		(500		)	4,510		9
Non-competition agreement	1,040		(69		)	971		10	1,040		(42		)	998		10
Acquired water and mineral rights	3,655		—			3,655		Indefinite	3,655		—			3,655		Indefinite
Other intangible assets	$	13,491	$	(1,369	)	$	12,122		$	13,491	$	(1,084	)	$	12,407

Amortization expense totaled $285,000 and $89,000 for the three months ended January 31, 2020 and 2019, respectively.

Estimated future amortization expense of intangible assets as of January 31, 2020 are as follows (in thousands):

9. Goodwill and Intangible Assets (continued)



2020 (excluding the three months ended January 31, 2020)	$	752
2021	1,027
2022	976
2023	976
2024	976
Thereafter	3,760
	$	8,467