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Goodwill and Intangible Assets, Net
 9 Months Ended
Jul. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
A summary of the change in the carrying amount of goodwill is as follows (in thousands):
Goodwill Carrying Amount
Balance at October 31, 2023$1,512 
Foreign currency translation adjustment(7)
Balance at July 31, 2024$1,505 
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 July 31, 2024.
Intangible assets consist of the following (in thousands):
July 31, 2024October 31, 2023
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Useful Life in YearsGross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Useful Life in Years
Trade names and trademarks$2,108 (1,258)850 8$2,108 $(1,104)$1,004 8
Customer relationships2,707 (1,762)945 84,037 (2,111)1,926 9
Non-competition agreement 437 (173)264 8437 (132)305 8
Acquired water and mineral rights3,327 — 3,327 Indefinite3,422 — 3,422  Indefinite
$8,579 $(3,193)$5,386 $10,004 $(3,347)$6,657 
Amortization expense totaled $177,000 and $178,000 for the three months ended July 31, 2024 and 2023, respectively. Amortization expense totaled $533,000 and $553,000 for the nine months ended July 31, 2024 and 2023, respectively.
In July 2024, the Company determined that the carrying value of one of its customer relationships was not recoverable, recorded an impairment charge of $643,000 and wrote off the intangible asset.
7. Goodwill and Intangible Assets, Net (continued)
Estimated future amortization expense of intangible assets as of July 31, 2024 is as follows (in thousands):
2024 (remaining three months)$144 
2025578 
2026578 
2027294 
2028294 
Thereafter171 
 $2,059