The Company's finite-lived intangible assets consist of customer relationships and covenants not to compete. The following is a summary of intangible assets with finite lives as of April 30, 2026 and January 31, 2026:


	April 30, 2026						January 31, 2026
	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
	(in thousands)						(in thousands)
Covenants not to compete	$	805	$	(579)	$	226	$	805	$	(539)	$	266
Customer relationships	12,073		(4,466)		7,607		11,738		(3,922)		7,816
	$	12,878	$	(5,045)	$	7,833	$	12,543	$	(4,461)	$	8,082

Total expense related to the amortization of intangible assets, which is recorded in Operating Expenses in the Condensed Consolidated Statements of Operations, was $0.5 million for both the three months ended April 30, 2026 and 2025.

Future amortization expense, as of April 30, 2026, is expected to be as follows:


	Amount
	(in thousands)
2027 (remainder)	$	1,843
2028	1,785
2029	1,698
2030	1,671
2031	836

	$	7,833

The Company's indefinite-lived intangible assets consist of distribution rights assets. The following is a summary of the changes in indefinite-lived intangible assets, by segment, for the three months ended April 30, 2026:


	Agriculture		Construction		Australia		Total
	(in thousands)
January 31, 2026	$	18,154	$	72	$	24,925	$	43,151

Foreign currency translation	—		—		735		735

April 30, 2026	$	18,154	$	72	$	25,660	$	43,886

The following presents changes in the carrying amount of goodwill, by segment, for the three months ended April 30, 2026:


	Agriculture		Australia		Total
	(in thousands)
January 31, 2026	$	39,220	$	26,363	$	65,583

Adjustment to business combinations completed in prior year	—		310		310

Foreign currency translation	—		793		793
April 30, 2026	$	39,220	$	27,466	$	66,686