XML 26 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
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, 2025October 31, 2024
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 (1,359)749 8$2,108 $(1,308)$800 8
Customer relationships2,707 (1,921)786 82,707 (1,842)865 8
Non-competition agreement 437 (201)236 8437 (187)250 8
Acquired water and mineral rights3,025 — 3,025 Indefinite3,306 — 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 
2026578 
2027294 
2028294 
2029172 
Thereafter— 
 $1,771