Other Assets and Intangibles |
5. Other Assets and Intangibles Other assets consist of the following (in thousands): | | | | | | | | | | October 31, | | October 31, | | | | 2020 | | 2019 | | Mexican IVA (i.e. value-added) taxes receivable (see note 15) | | $ | 30,126 | | $ | 27,592 | | Infrastructure loan to Agricola Belher and Agricola Don Memo | | | 1,215 | | | 1,800 | | Other | | | 1,217 | | | 1,514 | | | | $ | 32,558 | | $ | 30,906 | |
The intangible assets consist of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | October 31, 2020 | | October 31, 2019 | | | | Weighted- | | Gross | | | | | Net | | Gross | | | | | Net | | | | Average | | Carrying | | Accum. | | Book | | Carrying | | Accum. | | Book | | | | Useful Life | | Value | | Amortization | | Value | | Value | | Amortization | | Value | | Customer list/relationships | | 7 years | | $ | 17,340 | | $ | (8,613) | | $ | 8,727 | | $ | 7,640 | | $ | (7,640) | | $ | — | | Trade names | | 11 years | | | 4,060 | | | (2,852) | | | 1,208 | | | 2,760 | | | (2,760) | | | — | | Trade secrets/recipes | | 9 years | | | 630 | | | (517) | | | 113 | | | 630 | | | (470) | | | 160 | | Brand name intangibles | | indefinite | | | 275 | | | — | | | 275 | | | 275 | | | — | | | 275 | | Intangibles, net | | | | $ | 22,305 | | $ | (11,982) | | $ | 10,323 | | $ | 11,305 | | $ | (10,870) | | $ | 435 | |
We recorded amortization expense of approximately $1.1 million, $0.7 million, and $1.1 million for fiscal years 2020, 2019, and 2018. We anticipate recording amortization expense of approximately $1.6 million for each of fiscal years 2021 through 2022, $1.5 million for each fiscal years 2023 through 2024 and $4.1 million thereafter.
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