Intangible Assets

12 Months Ended

Oct. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4. Intangible Assets

Goodwill

The Company has three reporting units: CooperVision and within the CooperSurgical segment, Office/Surgical and Fertility, reflecting the current way the Company manages its business. There was no impairment of goodwill in its reporting units in fiscal 2023, 2022, and 2021.


(In millions)	CooperVision		CooperSurgical		Total




Balance at October 31, 2022	$	1,710.3	$	1,899.4	$	3,609.7
Net changes	7.7		(3.6)		4.1

Foreign currency translation adjustment	29.6		(18.9)		10.7
Balance at October 31, 2023	$	1,747.6	$	1,876.9	$	3,624.5

Of the October 31, 2023, goodwill balance, $237.6 million for CooperSurgical and $20.1 million for CooperVision is expected to be deductible for tax purposes. Of the October 31, 2022, goodwill balance, $214.1 million for CooperSurgical and $22.4 million for CooperVision was expected to be deductible for tax purposes.

Other Intangible Assets


	October 31, 2023				October 31, 2022
(In millions)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization		Weighted-average Amortization Period (in years)
Intangible assets with definite lives:
Trademarks	$	208.9	$	81.1	$	209.6	$	62.4	15
Composite intangible asset	1,061.9		424.8		1,061.9		354.0		15
Technology	494.5		335.4		504.1		317.5		13
Customer relationships	1,099.2		345.8		1,092.7		287.0		19
License and distribution rights and other	51.6		28.0		50.7		23.8		11
	2,916.1		$	1,215.1	2,919.0		$	1,044.7	16
Less: accumulated amortization and translation	1,215.1				1,044.7
Intangible assets with definite lives, net	$	1,701.0			$	1,874.3
Intangible assets with indefinite lives, net (1)	9.3				10.8
Total other intangibles, net	$	1,710.3			$	1,885.1

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

Balances include foreign currency translation adjustments.

As of October 31, 2023, the estimate of future amortization expenses for intangible assets with definite lives is as follows:


Fiscal years:	(In millions)
2024	$	179.5
2025	169.5
2026	162.0
2027	147.7
2028	143.2
Thereafter	899.1
Total remaining amortization for intangible assets with definite lives	$	1,701.0

In the fourth quarter of fiscal 2023, CooperVision fully impaired some intangible assets associated with the discontinuation of certain products. The carrying value of these intangible assets were immaterial. The Company performed its annual impairment assessment in the third quarter of fiscal 2023 and determined there was no other impairment to either its definite-lived or indefinite-lived intangible assets during fiscal 2023.

There were no impairment to the Company's definite-lived or indefinite-lived intangible assets during fiscal 2022 and 2021.