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Goodwill and Intangible Assets, Net | 3 Months Ended
--- | ---
Jan. 31, 2025
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, 2024 | $ | 1,504 |
Foreign currency translation adjustment | (3) |
Balance at January 31, 2025 | $ | 1,501 |
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, 2025. 7. Goodwill and Intangible Assets, Net (continued) Intangible assets consist of the following (in thousands):
| January 31, 2025 |  | October 31, 2024
| 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 | $ | 2,108 |  |  | (1,359) |  |  | 749 |  |  | 8 |  | $ | 2,108 |  |  | $ | (1,308) |  |  | $ | 800 |  |  | 8
Customer relationships | 2,707 |  |  | (1,921) |  |  | 786 |  |  | 8 |  | 2,707 |  |  | (1,842) |  |  | 865 |  |  | 8
Non-competition agreement | 437 |  |  | (201) |  |  | 236 |  |  | 8 |  | 437 |  |  | (187) |  |  | 250 |  |  | 8
Acquired water and mineral rights | 3,025 |  |  | — |  |  | 3,025 |  |  | Indefinite |  | 3,306 |  |  | — |  |  | 3,306 |  |  | Indefinite
| $ | 8,277 |  |  | $ | (3,481) |  |  | $ | 4,796 |  |  |  |  | $ | 8,558 |  |  | $ | (3,337) |  |  | $ | 5,221 |  |  |
Amortization expense totaled $144,000 and $179,000 for the three months ended January 31, 2025 and 2024, respectively. In January 2025, the Company sold acquired water rights in the Santa Paula Basin for $30,000 per acre-foot in two transactions. The total selling price was $1,440,000 and the Company recorded a gain on sales of water rights of $1,200,000. Estimated future amortization expense of intangible assets as of January 31, 2025 is as follows (in thousands):
2025 (remaining nine months) | $ | 433 |
2026 | 578 |
2027 | 294 |
2028 | 294 |
2029 | 172 |
Thereafter | — |
| $ | 1,771 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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