The Company recognized goodwill and certain intangible assets in connection with business combinations (Note ). The following table summarizes the composition of intangible assets at for the Successor and at 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 to Successor) was million. Amortization expense recognized by the Predecessor for the period from through and through Predecessor) was million and million, respectively. The estimated aggregate amortization expense for intangible assets over the next fiscal years ending 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

 

 

 

The Company recognized goodwill and certain intangible assets in connection with Business Combinations (see Note ). Goodwill is amortized for book purposes. The following table details the changes in goodwill as of and

 

Balance, November 1, 2016		$	54,400,319
Goodwill acquired in 2017 acquisitions			18,037,705
Change in foreign currency rates			1,071,184
Balance, October 31, 2017			73,509,208
Goodwill acquired in 2018 acquisitions			1,887,000
Change in foreign currency rates			(740,108	)
Balance, October 31, 2018		$	74,656,100

 

Intangible assets are amortized over their useful lives on a straight-line basis, except for the customer relationships and the Camfaud trade names. The customer relationships and the Camfaud trade names are amortized on an accelerated basis using the free cash flow method. The following table summarizes the Company’s intangible assets as of and

 

								2018												2017
								Gross								Net				Gross								Net
		Useful						Carrying				Accumulated				Carrying				Carrying				Accumulated				Carrying
		Life						Value				Amortization				Amount				Value				Amortization				Amount
Customer relationship			15					$	47,641,338			$	(23,092,905	)		$	24,548,433			$	45,521,514			$	(16,770,766	)		$	28,750,748
Trade name			15	-	20				15,412,058				(3,540,083	)			11,871,975				15,546,675				(2,401,152	)			13,145,523
Noncompete agreements			3						495,000				(486,390	)			8,610				485,000				(347,083	)			137,917
								$	63,548,396			$	(27,119,378	)		$	36,429,018			$	61,553,189			$	(19,519,001	)		$	42,034,188

 

 

Amortization expense recognized by the Company related to intangible assets was and for the years ended and respectively. Amortization expense as it relates to the amortization of intangible assets resides within general and administrative expense on the statement of operations. The estimated aggregate amortization expense for intangible assets over the next fiscal years ending and thereafter is as follows:

 

Years ending October 31:
2019		$	6,692,793
2020			5,528,556
2021			3,949,940
2022			3,373,733
2023			2,358,266
Thereafter			14,525,730
		$	36,429,018