Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Goodwill and Intangible Assets

v3.19.1
Note 8 - Goodwill and Intangible Assets
3 Months Ended
Jan. 31, 2019
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
Note
8.
Goodwill and Intangible Assets
 
The Company recognized goodwill and certain intangible assets in connection with business combinations (Note
4
). The following table summarizes the composition of intangible assets at
January 31, 2019
for the Successor and at
October 31, 2018
for the Predecessor:
 
   
Successor
   
Predecessor
 
   
January 31,
   
October 31,
 
   
2019
   
2018
 
   
Gross
   
 
 
 
 
Net
   
Gross
   
 
 
 
 
Net
 
   
Carrying
   
Accumulated
   
Carrying
   
Carrying
   
Accumulated
   
Carrying
 
(in thousands)
 
Value
   
Amortization
   
Amount
   
Value
   
Amortization
   
Amount
 
Customer relationship
  $
168,700
    $
4,793
    $
163,906
    $
47,641
    $
(23,093
)   $
24,548
 
Trade name
   
5,100
     
78
     
5,022
     
15,412
     
(3,540
)    
11,872
 
Trade name (indefinite life)
   
46,900
     
-
     
46,900
     
-
     
-
     
-
 
Noncompete agreements
   
-
     
-
     
-
     
495
     
(486
)    
9
 
    $
220,700
    $
4,871
    $
215,828
    $
63,548
    $
(27,119
)   $
36,429
 
 
Amortization expense recognized by the Company related to intangible assets for the period from
December 6, 2018
to
January 31, 2019 (
Successor) was
$4.9
million. Amortization expense recognized by the Predecessor for the period from
November 1, 2018
through
December 5, 2018
and
November 1, 2017
through
January 31, 2018 (
Predecessor) was
$0.7
million and
$1.9
million, respectively. The estimated aggregate amortization expense for intangible assets over the next
five
fiscal years ending
October 31
and thereafter is as follows:
 
(in thousands)
 
 
 
 
2019 (excluding the period from December 6, 2018 to January 31, 2019)
  $
21,949
 
2020
   
26,685
 
2021
   
21,897
 
2022
   
17,719
 
2023
   
14,172
 
Thereafter
   
66,506
 
    $
168,928