Goodwill and Intangible Assets

3 Months Ended

Jan. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill during the three months ended January 31, 2024 are as follows:

	(in thousands)
Balance at October 31, 2023	$	4,070,336
Additions	47,994
Adjustments	138
Effect of foreign currency translation	12,950
Balance at January 31, 2024	$	4,131,418

Intangible Assets

Intangible assets as of January 31, 2024 consist of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)
Core/developed technology	$	1,158,892	$	904,829	$	254,063
Customer relationships	469,340		364,328		105,012
Contract rights intangible	195,879		191,984		3,895
Trademarks and trade names	52,825		38,380		14,445
Total	$	1,876,936	$	1,499,521	$	377,415

Intangible assets as of October 31, 2023 consist of the following:

	Gross Carrying Amount		Accumulated Amortization		Net Amount
	(in thousands)
Core/developed technology	$	1,135,347	$	885,555	$	249,792
Customer relationships	463,371		358,421		104,950
Contract rights intangible	194,930		190,670		4,260
Trademarks and trade names	52,825		37,633		15,192
Capitalized software development costs	50,795		50,795		—
Total	$	1,897,268	$	1,523,074	$	374,194

Amortization expense related to intangible assets consists of the following:

	Three Months Ended   January 31,
	2024		2023
	(in thousands)
Core/developed technology	$	19,265	$	18,269
Customer relationships	5,850		5,824
Contract rights intangible	1,191		371
Trademarks and trade names	747		893
Capitalized software development costs(1)	—		559
Total	$	27,053	$	25,916

(1) Amortization of capitalized software development costs is included in cost of products revenue in the condensed consolidated statements of income.

The following table presents the estimated future amortization of acquired intangible assets as of January 31, 2024:

Fiscal year	(in thousands)
Remainder of fiscal 2024	$	79,696
2025	88,515
2026	75,333
2027	54,888
2028	29,467
2029 and thereafter	49,516
Total	$	377,415