| Goodwill and Intangible Assets Disclosure [Text Block] |
Note 7. Goodwill and Intangible Assets
The Company has recognized goodwill and certain intangible assets in connection with prior business combinations.
There were no triggering events during the three-month period ended January 31, 2023. The Company will continue to evaluate its goodwill and intangible assets in future quarters.
The following table summarizes the composition of intangible assets at January 31, 2023 and at October 31, 2022:
| |
|
January 31, |
|
| |
|
2023 |
|
| |
|
Weighted Average |
|
|
Gross |
|
|
|
|
|
|
|
|
|
|
Foreign Currency |
|
|
Net |
|
| |
|
Remaining Life |
|
|
Carrying |
|
|
|
|
|
|
Accumulated |
|
|
Translation |
|
|
Carrying |
|
| (in thousands) |
|
(in Years) |
|
|
Value |
|
|
Impairment |
|
|
Amortization |
|
|
Adjustment |
|
|
Amount |
|
| Intangibles subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer relationship |
|
|
10.8 |
|
|
$ |
195,036 |
|
|
$ |
- |
|
|
$ |
(117,156 |
) |
|
$ |
607 |
|
|
$ |
78,487 |
|
| Trade name |
|
|
5.8 |
|
|
|
5,176 |
|
|
|
- |
|
|
|
(2,253 |
) |
|
|
104 |
|
|
|
3,027 |
|
| Assembled workforce |
|
|
1.8 |
|
|
|
1,450 |
|
|
|
- |
|
|
|
(565 |
) |
|
|
- |
|
|
|
885 |
|
| Noncompete agreements |
|
|
4.4 |
|
|
|
1,000 |
|
|
|
- |
|
|
|
(218 |
) |
|
|
- |
|
|
|
782 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade names (indefinite life) |
|
|
- |
|
|
|
55,500 |
|
|
|
(5,000 |
) |
|
|
- |
|
|
|
- |
|
|
|
50,500 |
|
| Total intangibles |
|
|
|
|
|
$ |
258,162 |
|
|
$ |
(5,000 |
) |
|
$ |
(120,192 |
) |
|
$ |
711 |
|
|
$ |
133,681 |
|
| |
|
October 31, |
|
| |
|
2022 |
|
| |
|
Weighted Average |
|
|
Gross |
|
|
|
|
|
|
|
|
|
|
Foreign Currency |
|
|
Net |
|
| |
|
Remaining Life |
|
|
Carrying |
|
|
|
|
|
|
Accumulated |
|
|
Translation |
|
|
Carrying |
|
| (in thousands) |
|
(in Years) |
|
|
Value |
|
|
Impairment |
|
|
Amortization |
|
|
Adjustment |
|
|
Amount |
|
| Intangibles subject to amortization: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer relationship |
|
|
11.0 |
|
|
$ |
193,710 |
|
|
$ |
- |
|
|
$ |
(112,658 |
) |
|
$ |
1,416 |
|
|
$ |
82,468 |
|
| Trade name |
|
|
6.1 |
|
|
|
4,836 |
|
|
|
- |
|
|
|
(2,127 |
) |
|
|
239 |
|
|
$ |
2,948 |
|
| Assembled workforce |
|
|
2.1 |
|
|
|
1,450 |
|
|
|
- |
|
|
|
(444 |
) |
|
|
- |
|
|
$ |
1,006 |
|
| Noncompete agreements |
|
|
4.6 |
|
|
|
1,000 |
|
|
|
- |
|
|
|
(168 |
) |
|
|
- |
|
|
$ |
832 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade names (indefinite life) |
|
|
- |
|
|
|
55,500 |
|
|
|
(5,000 |
) |
|
|
- |
|
|
|
- |
|
|
$ |
50,500 |
|
| Total intangibles |
|
|
|
|
|
$ |
256,496 |
|
|
$ |
(5,000 |
) |
|
$ |
(115,397 |
) |
|
$ |
1,655 |
|
|
$ |
137,754 |
|
The changes in the carrying value of goodwill by reportable segment for the three-month periods ended January 31, 2023 and 2022 are as follows:
| Reportable Segment |
|
As of October 31, 2022 |
|
|
Foreign Currency Translation |
|
|
As of January 31, 2023 |
|
| (in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Concrete Pumping |
|
$ |
147,482 |
|
|
$ |
- |
|
|
$ |
147,482 |
|
| U.K. Operations |
|
|
23,630 |
|
|
$ |
1,660 |
|
|
|
25,290 |
|
| U.S. Concrete Waste Management Services |
|
|
49,133 |
|
|
$ |
- |
|
|
|
49,133 |
|
| Total |
|
$ |
220,245 |
|
|
$ |
1,660 |
|
|
$ |
221,905 |
|
|