Goodwill and Purchased Intangible Assets

3 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Purchased Intangible Assets

11.	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. As a result of the change in fiscal year end as discussed in Note 1 of the Notes to Condensed Consolidated Financial Statements, the Company tested goodwill and other indefinite-lived intangible assets for impairment during the three months ended December 31, 2021. No indefinite-lived assets were impaired as a result of this testing.

The following table presents changes in goodwill during the three months ended December 31, 2021 (in millions):

	Access Equipment			Defense		Fire & Emergency		Commercial		Total
Net goodwill at September 30, 2021	$	880.6		$	44.4	$	106.1	$	20.9	$	1,052.0
Foreign currency translation		(3.0	)		—		—		—		(3.0	)
Net goodwill at December 31, 2021	$	877.6		$	44.4	$	106.1	$	20.9	$	1,049.0

The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions):

	December 31, 2021							September 30, 2021
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Access Equipment	$	1,809.7	$	(932.1	)	$	877.6	$	1,812.7	$	(932.1	)	$	880.6
Defense		44.4		—			44.4		44.4		—			44.4
Fire & Emergency		108.1		(2.0	)		106.1		108.1		(2.0	)		106.1
Commercial		188.5		(167.6	)		20.9		188.5		(167.6	)		20.9
	$	2,150.7	$	(1,101.7	)	$	1,049.0	$	2,153.7	$	(1,101.7	)	$	1,052.0

Details of the Company’s total purchased intangible assets are as follows (in millions):

	December 31, 2021
	Weighted- Average Life		Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Distribution network		39.2	$	55.4	$	(35.6	)	$	19.8
Technology-related		11.9		104.7		(104.0	)		0.7
Customer relationships		12.6		572.6		(551.3	)		21.3
Other		12.1		23.6		(18.5	)		5.1
		14.4		756.3		(709.4	)		46.9
Non-amortizable trade names				417.1		—			417.1
			$	1,173.4	$	(709.4	)	$	464.0

	September 30, 2021
	Weighted- Average Life	Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Distribution network	39.1	$	55.4	$	(35.1	)	$	20.3
Technology-related	11.9		104.7		(103.9	)		0.8
Customer relationships	12.6		572.6		(550.0	)		22.6
Other	12.1		23.6		(17.6	)		6.0
	14.4		756.3		(706.6	)		49.7
Non-amortizable trade names			417.1		—			417.1
		$	1,173.4	$	(706.6	)	$	466.8

The estimated future amortization expense of purchased intangible assets for each of the five years succeeding December 31, 2021 are as follows: 2022 - $11.0 million; 2023 - $5.5 million; 2024 - $4.3 million; 2025 - $4.2 million; and 2026 - $4.2 million.