GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Jan. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND OTHER INTANGIBLE ASSETS

    Changes in the carrying amount of goodwill by operating segment for the three months ended January 31, 2021 are as follows (in thousands):

	Segment		Consolidated Totals
	FSG	ETG
Balances as of October 31, 2020	$427,565	$955,602	$1,383,167
Foreign currency translation adjustments	1,903	2,768	4,671
Adjustments to goodwill	(33)	241	208
Balances as of January 31, 2021	$429,435	$958,611	$1,388,046

Foreign currency translation adjustments are included in other comprehensive income (loss) in the Company's Condensed Consolidated Statements of Comprehensive Income. The adjustments to goodwill represent immaterial measurement period adjustments to the purchase price allocation of certain fiscal 2020 acquisitions.

Identifiable intangible assets consist of the following (in thousands):

	As of January 31, 2021			As of October 31, 2020
	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount	Accumulated Amortization	Net Carrying Amount
Amortizing Assets:
Customer relationships	$435,317	($190,688)	$244,629	$443,143	($188,919)	$254,224
Intellectual property	241,704	(89,952)	151,752	240,725	(84,686)	156,039
Licenses	6,559	(4,795)	1,764	6,559	(4,670)	1,889
Patents	1,073	(750)	323	1,071	(746)	325
Non-compete agreements	818	(818)	—	811	(811)	—
Trade names	450	(228)	222	450	(219)	231
	685,921	(287,231)	398,690	692,759	(280,051)	412,708
Non-Amortizing Assets:
Trade names	167,231	—	167,231	166,333	—	166,333
	$853,152	($287,231)	$565,921	$859,092	($280,051)	$579,041

    Amortization expense related to intangible assets for the three months ended January 31, 2021 and 2020 was $15.2 million and $13.7 million, respectively. Amortization expense related to intangible assets for the remainder of fiscal 2021 is estimated to be $44.7 million. Amortization expense for each of the next five fiscal years and thereafter is estimated to be $53.1 million in fiscal 2022, $47.5 million in fiscal 2023, $42.6 million in fiscal 2024, $38.2 million in fiscal 2025, $33.8 million in fiscal 2026, and $138.8 million thereafter.