Intangible Assets and Goodwill

9 Months Ended

Jul. 31, 2012

Intangible Assets and Goodwill [Abstract]

Intangible Assets and Goodwill

5. Intangible Assets and Goodwill

A summary of intangible assets is as follows:

	July 31, 2012							October 31, 2011
In thousands	Gross Amount		Amorti- zation			Net Book Value		Gross Amount		Amorti- zation			Net Book Value
Amortizable trademarks	$	19,819	$	(10,296	)	$	9,523	$	20,174	$	(9,782	)	$	10,392
Amortizable licenses		14,082		(13,612	)		470		14,380		(12,822	)		1,558
Other amortizable intangibles		8,069		(5,360	)		2,709		9,029		(5,987	)		3,042
Non-amortizable trademarks		124,043		—			124,043		123,151		—			123,151
	$	166,013	$	(29,268	)	$	136,745	$	166,734	$	(28,591	)	$	138,143

Certain trademarks and licenses will continue to be amortized by the Company using estimated useful lives of 10 to 25 years with no residual values. Intangible amortization expense for each of the nine month periods ended July 31, 2012 and 2011 was $2.3 million. Annual amortization expense is estimated to be approximately $2.9 million in the fiscal year ending October 31, 2012 and approximately $1.6 million in the fiscal years ending October 31, 2013 through October 31, 2017.

Goodwill related to the Company’s operating segments is as follows:

In thousands	July 31, 2012		October 31, 2011
Americas	$	75,946	$	76,048
Europe		176,662		186,334
Asia/Pacific		6,207		6,207
	$	258,815	$	268,589

Goodwill decreased approximately $9.8 million during the nine months ended July 31, 2012. Goodwill decreased by $0.1 million in the Americas segment as a result of the effect of changes in foreign currency exchange rates and decreased by $9.7 million in the European segment as a result of a decrease of $17.2 million due to the effect of changes in foreign currency exchange rates, partially offset by an increase to goodwill of $7.5 million related to acquisitions. Goodwill remained unchanged in the Asia/Pacific segment.