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Goodwill and Purchased Intangible Assets | 9 Months Ended
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Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Purchased Intangible Assets |
1 1. | Goodwill and Purchased Intangible Assets
Goodwill and other indefinite-lived intangible assets are not amortized but are reviewed for impairment annually or more frequently if potential interim indicators exist that could result in impairment. The Company performs its annual impairment test in the fourth quarter of its fiscal year. The Company acquired Pratt Miller on January 19, 2021. The goodwill and intangible values related to the Pratt Miller acquisition are based on management’s best estimates as of June 30, 2021. See Note 1 of the Condensed Consolidated Financial Statements for additional information. The following table presents changes in goodwill during the nine months ended June 30, 2021 (in millions):
|  | Access Equipment |  |  | Defense |  |  | Fire & Emergency |  |  | Commercial |  |  | Total |
Net goodwill at September 30, 2020 |  | $ | 882.6 |  |  | $ | — |  |  | $ | 106.1 |  |  | $ | 20.8 |  |  | $ | 1,009.5 |
Foreign currency translation |  |  | 3.1 |  |  |  | — |  |  |  | — |  |  |  | 0.2 |  |  |  | 3.3 |
Acquisition |  |  | — |  |  |  | 44.4 |  |  |  | — |  |  |  | — |  |  |  | 44.4 |
Net goodwill at June 30, 2021 |  | $ | 885.7 |  |  | $ | 44.4 |  |  | $ | 106.1 |  |  | $ | 21.0 |  |  | $ | 1,057.2 |
The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions):
|  | June 30, 2021 |  |  | September 30, 2020 |
|  | Gross |  |  | Accumulated Impairment |  |  | Net |  |  | Gross |  |  | Accumulated Impairment |  |  | Net |
Access Equipment |  | $ | 1,817.8 |  |  | $ | (932.1 | ) |  | $ | 885.7 |  |  | $ | 1,814.7 |  |  | $ | (932.1 | ) |  | $ | 882.6 |
Defense |  |  | 44.4 |  |  |  | — |  |  |  | 44.4 |  |  |  | — |  |  |  | — |  |  |  | — |
Fire & Emergency |  |  | 108.1 |  |  |  | (2.0 | ) |  |  | 106.1 |  |  |  | 108.1 |  |  |  | (2.0 | ) |  |  | 106.1 |
Commercial |  |  | 188.6 |  |  |  | (167.6 | ) |  |  | 21.0 |  |  |  | 196.7 |  |  |  | (175.9 | ) |  |  | 20.8 |
|  | $ | 2,158.9 |  |  | $ | (1,101.7 | ) |  | $ | 1,057.2 |  |  | $ | 2,119.5 |  |  | $ | (1,110.0 | ) |  | $ | 1,009.5 |
Details of the Company’s total purchased intangible assets are as follows (in millions):
|  | June 30, 2021 |
|  | Weighted- Average Life |  |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distribution network |  |  | 39.2 |  |  | $ | 55.3 |  |  | $ | (34.8 | ) |  | $ | 20.5 |
Technology-related |  |  | 11.9 |  |  |  | 104.8 |  |  |  | (103.8 | ) |  |  | 1.0 |
Customer relationships |  |  | 12.6 |  |  |  | 572.7 |  |  |  | (548.5 | ) |  |  | 24.2 |
Other |  |  | 12.1 |  |  |  | 23.6 |  |  |  | (16.7 | ) |  |  | 6.9 |
|  |  | 14.4 |  |  |  | 756.4 |  |  |  | (703.8 | ) |  |  | 52.6 |
Non-amortizable trade names |  |  |  |  |  |  | 417.1 |  |  |  | — |  |  |  | 417.1 |
|  |  |  |  |  | $ | 1,173.5 |  |  | $ | (703.8 | ) |  | $ | 469.7 |
|  | September 30, 2020 |
|  | Weighted- Average Life |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Distribution network |  | 39.1 |  | $ | 55.4 |  |  | $ | (33.8 | ) |  | $ | 21.6 |
Technology-related |  | 11.9 |  |  | 104.7 |  |  |  | (103.3 | ) |  |  | 1.4 |
Customer relationships |  | 12.8 |  |  | 554.7 |  |  |  | (545.6 | ) |  |  | 9.1 |
Other |  | 16.3 |  |  | 16.4 |  |  |  | (15.0 | ) |  |  | 1.4 |
|  | 14.7 |  |  | 731.2 |  |  |  | (697.7 | ) |  |  | 33.5 |
Non-amortizable trade names |  |  |  |  | 384.7 |  |  |  | — |  |  |  | 384.7 |
|  |  |  | $ | 1,115.9 |  |  | $ | (697.7 | ) |  | $ | 418.2 |
The estimated future amortization expense of purchased intangible assets for the remainder of fiscal 2021 and the five years succeeding September 30, 2021 are as follows: 2021 (remaining three months) - $2.9 million; 2022 - $11.0 million; 2023 - $7.2 million; 2024 - $4.3 million; 2025 - $4.2 million; and 2026 - $4.2 million.

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