GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill represents the excess of the purchase price over the fair values of the assets acquired and liabilities assumed in a business combination, at the date of acquisition. Goodwill is not amortized but is tested for potential impairment at the reporting unit level, at a minimum on an annual basis, or when indications of potential impairment exist. All of our goodwill is within our H&P Technologies reportable segment.

The following is a summary of changes in goodwill (in thousands):



Balance at September 30, 2018	$	64,777
Additions (Note 1)	3,125
Balance at June 30, 2019	$	67,902

Intangible Assets

Finite-lived intangible assets are amortized using the straight-line method over the period in which these assets contribute to our cash flows and are evaluated for impairment in accordance with our policies for valuation of long-lived assets. Intangible assets arising from business acquisitions consisted of the following:



		June 30, 2019						September 30, 2018
(in thousands)	Estimated Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Finite-lived intangible asset:
Developed technology	15 years	$	70,200	$	9,089	$	61,111	$	70,000	$	5,589	$	64,411
Trade name	20 years	5,700		451		5,249		5,700		237		5,463
Customer relationships	5 years	4,000		1,267		2,733		4,000		667		3,333
		$	79,900	$	10,807	$	69,093	$	79,700	$	6,493	$	73,207

Amortization expense in the Unaudited Condensed Consolidated Statements of Operations was $1.4 million for each of the three months ended June 30, 2019 and 2018 and $4.2 million and $3.9 million for the nine months ended June 30, 2019 and 2018, respectively. Estimated intangible amortization is estimated to be approximately $5.8 million for each of the next three succeeding fiscal years and approximately $5.1 million for fiscal year 2023.