Goodwill and Intangible Assets

6 Months Ended

Apr. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of the change in the carrying amount of goodwill is as follows (in thousands):


	Goodwill Carrying Amount
Balance at October 31, 2020	$	1,535

Foreign currency translation adjustment	15
Balance at April 30, 2021	$	1,550

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 April 30, 2021.

During the six months ended April 30, 2021, the Company acquired additional water rights in Chile for $186,000.

7. Goodwill and Intangible Assets (continued)

Intangible assets consisted of the following as of April 30, 2021 and October 31, 2020 (in thousands):


	April 30, 2021							October 31, 2020
	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	$	3,771	$	(1,156)	$	2,615	10	$	3,771	$	(947)	$	2,824	10
Customer relationships	5,010		(1,254)		3,756		9	5,010		(989)		4,021		9
Non-competition agreement	1,040		(199)		841		10	1,040		(147)		893		10
Acquired water and mineral rights	3,948		—		3,948		Indefinite	3,571		—		3,571		Indefinite
	$	13,769	$	(2,609)	$	11,160		$	13,392	$	(2,083)	$	11,309

Amortization expense totaled $263,000 and $205,000 for the three months ended April 30, 2021 and 2020, respectively. Amortization expense totaled $526,000 and $490,000 for the six months ended April 30, 2021 and 2020, respectively.

Estimated future amortization expense of intangible assets as of April 30, 2021 are as follows (in thousands):


2021 (excluding the six months ended April 30, 2021)	$	514
2022	989
2023	989
2024	981
2025	976
Thereafter	2,763
	$	7,212