XML 28 R14.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets

9 Months Ended

Jul. 31, 2021

Note 7. Goodwill and Intangible Assets

As of July 31, 2021 and October 31, 2020, the Company had goodwill of $4.1 million and intangible assets of $19.0 million and $20.0 million, respectively, that were recorded in connection with the Company’s 2012 acquisition of Versa Power Systems, Inc. (“Versa”) and the 2019 Bridgeport Fuel Cell Project acquisition. The Versa acquisition intangible asset is an indefinite-lived in-process research and development intangible asset (“IPR&D”) for cumulative research and development efforts associated with the development of solid oxide fuel cell stationary power generation. Amortization expense for the Bridgeport Fuel Cell Project PPA asset for the three months ended July 31, 2021 and 2020 was $0.3 million and for the nine months ended July 31, 2021 and 2020 was $1.0 million.

The Company completed its annual impairment analysis of goodwill and IPR&D as of July 31, 2021. A qualitative analysis was completed for fiscal year 2021 and the Company determined that there was no impairment of goodwill or the IPR&D.

The following tables summarize the Company’s intangible assets as of July 31, 2021 and October 31, 2020 (in thousands):


As of July 31, 2021	Gross Amount		Accumulated Amortization		Net Amount
In-Process Research and Development	$	9,592	$	—	$	9,592
Bridgeport PPA		12,320		(2,918)		9,402
Total	$	21,912	$	(2,918)	$	18,994

As of October 31, 2020	Gross Amount		Accumulated Amortization		Net Amount
In-Process Research and Development	$	9,592	$	—	$	9,592
Bridgeport PPA		12,320		(1,945)		10,375
Total	$	21,912	$	(1,945)	$	19,967