Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Goodwill and Intangible Assets

v3.19.2
Note 8 - Goodwill and Intangible Assets
6 Months Ended
Apr. 30, 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 (see Note
4
- Business Combinations). The following table summarizes the composition of intangible assets at
April 30, 2019
for the Successor and at
October 31, 2018
for the Predecessor:
 
   
Successor
   
Predecessor
 
   
April 30,
   
October 31,
 
   
2019
   
2018
 
   
Gross
   
 
 
 
 
Net
   
Gross
   
 
 
 
 
Net
 
   
Carrying
   
Accumulated
   
Carrying
   
Carrying
   
Accumulated
   
Carrying
 
(in thousands)
 
Value
   
Amortization
   
Amount
   
Value
   
Amortization
   
Amount
 
Customer relationship
  $
170,312
    $
(11,627
)   $
158,685
    $
47,641
    $
(23,093
)   $
24,548
 
Trade name
   
5,241
     
(211
)    
5,030
     
15,412
     
(3,540
)    
11,872
 
Trade name (indefinite life)
   
46,900
     
-
     
46,900
     
-
     
-
     
-
 
Noncompete agreements
   
-
     
-
     
-
     
495
     
(486
)    
9
 
    $
222,453
    $
(11,838
)   $
210,615
    $
63,548
    $
(27,119
)   $
36,429
 
 
Amortization expense for the Successor for the
three
-month period ended
April 30, 2019
and the period from
December 6, 2018
to
April 30, 2019
was
$7.0
 million and
$11.8
million, respectively. Amortization expense for the Predecessor from
November 1, 2018
to
December 5, 2018
and for the
three
and
six
-month periods ended
April 30, 2018
was
$0.7
million,
$1.9
million, and
$3.8
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 April 30, 2019)
  $
17,566
 
2020
   
26,650
 
2021
   
21,657
 
2022
   
17,531
 
2023
   
14,019
 
Thereafter
   
66,292
 
    $
163,715