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Goodwill and Intangible Assets | 9 Months Ended
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Jul. 31, 2023
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note 8. Goodwill and Intangible Assets As of July 31, 2023 and October 31, 2022, the Company had goodwill of $4.1 million and intangible assets of $16.4 million and $17.4 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 represents an indefinite-lived in-process research and development intangible asset 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-related intangible asset for each of the three month periods ended July 31, 2023 and 2022 was $0.3 million and for each of the nine month periods ended July 31, 2023 and 2022 was $0.9 million. The following tables summarize the carrying value of the Company’s intangible assets as of July 31, 2023 and October 31, 2022 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of July 31, 2023 |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
In-Process Research and Development | ​ | $ | 9,592 | ​ | $ | - | ​ | $ | 9,592
Bridgeport PPA | ​ | ​ | 12,320 | ​ | ​ | (5,512) | ​ | ​ | 6,808
Total | ​ | $ | 21,912 | ​ | $ | (5,512) | ​ | $ | 16,400
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of October 31, 2022 |  | Gross Amount |  | Accumulated Amortization |  | Net Amount
In-Process Research and Development | ​ | $ | 9,592 | ​ | $ | - | ​ | $ | 9,592
Bridgeport PPA | ​ | ​ | 12,320 | ​ | ​ | (4,539) | ​ | ​ | 7,781
Total | ​ | $ | 21,912 | ​ | $ | (4,539) | ​ | $ | 17,373
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