| 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 nine months ended July 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 as of July 31, 2023 and October 31, 2022:
| |
|
As of July 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 |
|
|
10.3 |
|
|
$ |
196,310 |
|
|
$ |
- |
|
|
$ |
(126,048 |
) |
|
$ |
34 |
|
|
$ |
70,296 |
|
| Trade name |
|
|
5.4 |
|
|
|
5,400 |
|
|
|
- |
|
|
|
(2,515 |
) |
|
|
2 |
|
|
|
2,887 |
|
| Assembled workforce |
|
|
1.6 |
|
|
|
1,650 |
|
|
|
- |
|
|
|
(835 |
) |
|
|
- |
|
|
|
815 |
|
| Noncompete agreements |
|
|
4.1 |
|
|
|
1,200 |
|
|
|
- |
|
|
|
(335 |
) |
|
|
- |
|
|
|
865 |
|
| Indefinite-lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade names (indefinite life) |
|
|
- |
|
|
|
55,500 |
|
|
|
(5,000 |
) |
|
|
- |
|
|
|
- |
|
|
|
50,500 |
|
| Total intangibles |
|
|
|
|
|
$ |
260,060 |
|
|
$ |
(5,000 |
) |
|
$ |
(129,733 |
) |
|
$ |
36 |
|
|
$ |
125,363 |
|
| |
|
As of 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 nine months ended July 31, 2023 are as follows:
| Reportable Segment |
|
As of October 31, 2022 |
|
|
Foreign Currency Translation |
|
|
As of July 31, 2023 |
|
| (in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Concrete Pumping |
|
$ |
147,482 |
|
|
$ |
- |
|
|
$ |
147,482 |
|
| U.K. Operations |
|
|
23,630 |
|
|
|
2,753 |
|
|
|
26,383 |
|
| U.S. Concrete Waste Management Services |
|
|
49,133 |
|
|
|
- |
|
|
|
49,133 |
|
| Total |
|
$ |
220,245 |
|
|
$ |
2,753 |
|
|
$ |
222,998 |
|
|