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Goodwill and Intangible Assets
12 Months Ended
Oct. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

Note 9. Goodwill and Intangible Assets

 

As of October 31, 2019 and 2018, the Company had goodwill of $4.1 million and intangible assets of $21.3 million and $9.6 million, respectively, that were recorded in connection with the 2012 Versa acquisition and the 2019 Bridgeport Fuel Cell Project acquisition. The Versa intangible asset represents indefinite-lived IPR&D for cumulative research and development efforts associated with the development of solid oxide fuel cells stationary power generation. The Company recorded $12.3 million as an intangible asset during fiscal year 2019 which is for the consideration from the Bridgeport acquisition which was allocated to the PPA (refer to Note 3. “Acquisition” for additional information).  The balance for the Bridgeport related intangible asset was $11.7 million as of October 31, 2019 and amortization recorded since the acquisition date of May 9, 2019 was $0.6 million.

 

The Company completed its annual impairment analysis of goodwill and IPR&D assets as of July 31, 2019.  The Company performed a qualitative analysis for fiscal years 2019, 2018 and 2017 and determined that there was no impairment of the goodwill or the indefinite-lived intangible asset.