Intangible Assets

3 Months Ended

Jan. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill


(In millions)	CooperVision		CooperSurgical		Total



Balance at October 31, 2021	$	1,841.0	$	733.0	$	2,574.0
Current period additions	—		1,291.3		1,291.3
Foreign currency translation adjustment	(24.1)		(5.5)		(29.6)
Balance at January 31, 2022	$	1,816.9	$	2,018.8	$	3,835.7

The Company evaluates goodwill for impairment annually during the fiscal third quarter and when an event occurs or circumstances change such that it is reasonably possible that impairment may exist. The Company accounts for goodwill, evaluates and tests goodwill balances for impairment in accordance with related accounting standards.

The Company performed an annual impairment assessment in the third quarter of fiscal 2021, and its analysis indicated that there was no impairment of goodwill in its reporting units.

Other Intangible Assets


	January 31, 2022				October 31, 2021
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted Average Amortization Period (in years)

Intangible assets with definite lives:
Trademarks	$	298.0	$	52.8	$	156.7	$	49.1	14
Composite intangible asset	1,061.9		300.9		1,061.8		283.2		15
Technology	514.4		297.4		513.0		287.9		10
Customer relationships	844.6		247.6		378.4		240.1		13
License and distribution rights and other	32.5		21.5		33.4		21.6		11
	2,751.4		$	920.2	2,143.3		$	881.9	14
Less: accumulated amortization and translation	920.2				881.9
Intangible assets with definite lives, net	1,831.2				1,261.4
Intangible assets with indefinite lives, net (1)	10.8				10.1
Total other intangibles, net	$	1,842.0			$	1,271.5

(1) Intangible assets with indefinite lives include technology and trademarks.

Balances include foreign currency translation adjustments.

Intangible assets with definite lives are amortized over the estimated useful life of the assets. As of January 31, 2022, the estimate of future amortization expenses for intangible assets with definite lives is as follows:


Fiscal Years:	(In millions)
Remainder of 2022	$	146.4
2023	193.0
2024	188.8
2025	178.3
2026	170.6
Thereafter	954.1
Total remaining amortization for intangible assets with definite lives	$	1,831.2

The Company assesses definite-lived intangible assets whenever events or changes in circumstances indicate that the carrying amount of a definite-lived intangible asset (asset group) may not be recoverable. When events or changes in circumstances indicate that the carrying amount of a definite-lived intangible asset may not be recoverable, in accordance with related accounting standards, the Company evaluates whether the definite-lived intangible asset is impaired by comparing its carrying value to its undiscounted future cash flows.

The Company assesses indefinite-lived intangible assets annually in the third quarter of the fiscal year, or whenever events or circumstances indicate that the carrying amount of an indefinite-lived intangible asset (asset group) may not be recoverable. The Company evaluates whether the indefinite-lived intangible asset is impaired by comparing its carrying value to its fair value.

The Company performed an annual impairment assessment in the third quarter of fiscal 2021 and did not recognize any intangible asset impairment charges.