The Company recognized goodwill and certain intangible assets in connection with business combinations (see Note - Business Combinations).

 

During the quarter of fiscal year the Company identified a triggering event from the recent sustained decline in its stock price and deterioration in general economic conditions resulting from COVID- As a result, the Company, with the assistance of a party valuation specialist, performed an interim impairment test on its indefinite-lived trade name intangible assets and goodwill as of

 

The valuation methodology used to value the trade-names was based on the relief-from-royalty method which is an income based measure that derives the value from total revenue growth projected and what percentage is attributable to the trade name. As a result of the analysis, the Company identified that the fair value of its Brundage-Bone Concrete Pumping trade name was approximately below its carrying value and as such, recorded a non-cash impairment charge of million in intangibles impairment in its consolidated statements of operations for both the and -month periods ended The impaired trade name has a remaining value of million. In addition, the Company concluded that the fair values of its Eco-Pan and Capital Pumping trade names exceeded their carrying values by approximately and respectively, and their remaining values are million and million, respectively.

 

The goodwill impairment test was performed on the Company’s U.S. Concrete Pumping, U.S. Concrete Waste Management Services, and U.K. Operations reporting units. The valuation methodologies used to value the reporting units included the discounted cash flow method (income approach) and the guideline public company method (market approach). As a result of the goodwill impairment analysis, the Company identified that the fair values of its U.S. Concrete Pumping and U.K. Operations reporting units were approximately and below their carrying values, respectively. As such, the Company recorded non-cash impairment charges of million and million to its U.S. Concrete Pumping and U.K. Operations reporting units, respectively, in goodwill impairment in its consolidated statements of operations for both the and -month periods ended In addition, the Company concluded that the fair value of its U.S. Concrete Waste Management Services reporting unit exceeded its carrying value by approximately and, as such, impairment charge was recorded. The Company will continue to evaluate its goodwill and intangible assets in future quarters and note that the Company could record additional impairments based on events and circumstances, including those related to COVID- discussed in Note

 

The factors leading to the impairment of the Company's goodwill and intangibles were primarily due to () lower anticipated future net revenues and earnings in its estimate of future cash flows resulting from COVID- and () a higher discount rate applied to future cash flows as a result of uncertainties of the overall economic impact from COVID- There is inherent uncertainty associated with key assumptions used by the Company in its impairment analyses including the duration of the economic downturn associated with COVID- and the recovery period.

 

The following table summarizes the composition of intangible assets at and at

 

		April 30,																				October 31,
		2020																				2019
		Gross												Foreign Currency				Net				Gross								Foreign Currency				Net
		Carrying								Accumulated				Translation				Carrying				Carrying				Accumulated				Translation				Carrying
(in thousands)		Value				Impairments				Amortization				Adjustment				Amount				Value				Amortization				Adjustment				Amount
Customer relationship		$	193,042			$	-			$	(48,719	)		$	70			$	144,393			$	193,594			$	(31,861	)		$	(62	)		$	161,671
Trade name			5,293				-				(752	)			9				4,550				5,434				(483	)			(7	)			4,944
Trade name (indefinite life)			55,500				(5,000	)			-				-				50,500				55,500				-				-				55,500
Noncompete agreements			200				-				(42	)			-				158				200				(22	)			-				178
Total intangibles		$	254,035			$	(5,000	)		$	(49,513	)		$	79			$	199,601			$	254,728			$	(32,366	)		$	(69	)		$	222,293

 

Amortization expense for the and -month periods ended was million and million, respectively. Amortization expense for the Successor for the -month period ended and the period from to was million and million, respectively. Amortization expense for the Predecessor from to was million. The estimated aggregate amortization expense for intangible assets over the next fiscal years ending and thereafter is as follows:

 

(in thousands)
2020 (excluding the period from November 1, 2019 to April 30, 2020)		$	16,249
2021			26,855
2022			21,609
2023			17,176
2024			13,794
Thereafter			53,418
Total		$	149,101

 

The changes in the carrying value of goodwill by reportable segment for the quarter ended are as follows:

 

(in thousands)		U.S. Concrete Pumping				U.K. Operations				U.S. Concrete Waste Management Services				Corporate				Total
Balance at October 31, 2019		$	185,782			$	41,173			$	49,133			$	-			$	276,088
Measurement-period adjustments			200				-				-				-				200
Impairments			(38,500	)			(14,240	)			-				-				(52,740	)
Foreign currency translation			-				(1,073	)			-				-				(1,073	)
Balance at April 30, 2020		$	147,482			$	25,860			$	49,133			$	-			$	222,475