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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
GOODWILL AND INTANGIBLE ASSETS |
NOTE 4 GOODWILL AND INTANGIBLE ASSETS
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 in the fourth fiscal quarter, or when indications of potential impairment exist. Our goodwill reporting units are North America Solutions and Offshore Solutions. The following table sets forth our goodwill balance by segment for the periods indicated:
(in thousands) | North America Solutions |  | Offshore Solutions |  | Total
Goodwill balance at September 30, 2025 | $ | 45,653 |  |  | $ | 137,201 |  |  | $ | 182,854 |
Foreign currency translation adjustment | — |  |  | (429) |  |  | (429) |
Goodwill balance at June 30, 2026 | $ | 45,653 |  |  | $ | 136,772 |  |  | $ | 182,425 |
Indefinite-lived Intangible After initial recognition, acquired in-process research and development ("IPR&D") projects are considered indefinite-lived until the abandonment or completion of the associated research and development effort. Acquired IPR&D is not amortized, but is subject to an annual impairment assessment. Included in Intangible assets, net, on our Unaudited Condensed Consolidated Balance Sheets as of June 30, 2026 and September 30, 2025 was $1.4 million and $3.2 million, of IPR&D, respectively. During the nine months ended June 30, 2026, we recorded a non-cash impairment charge of $3.0 million, associated with previously capitalized IPR&D that were determined to have no alternative future use. This amount is included in Asset impairment charges on our Unaudited Condensed Consolidated Statements of Operations. Additionally, during the nine months ended June 30, 2026, $0.2 million in IPR&D projects were completed and reclassified to a finite-lived intangible asset. Finite-lived Intangibles 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 whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with our policies for valuation of long-lived assets. Our finite-lived intangible assets consist of the following:
|  |  | June 30, 2026
(in thousands) | Weighted Average Estimated Useful Lives |  | Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation Adjustment |  | Net
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Developed technology | 14 years |  | $ | 110,725 |  |  | $ | (53,232) |  |  | $ | 455 |  |  | $ | 57,948 |
Customer relationships | 9 years |  | 432,200 |  |  | (91,002) |  |  | 9,190 |  |  | 350,388 |
Intellectual property | 13 years |  | 2,000 |  |  | (941) |  |  | — |  |  | 1,059 |
Trade name | 13 years |  | 16,570 |  |  | (3,970) |  |  | 231 |  |  | 12,831 |
|  |  | $ | 561,495 |  |  | $ | (149,145) |  |  | $ | 9,876 |  |  | $ | 422,226 |
|  |  | September 30, 2025
(in thousands) | Weighted Average Estimated Useful Lives |  | Gross Carrying Amount |  | Accumulated Amortization |  | Foreign Currency Translation Adjustment |  | Net
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Developed technology | 14 years |  | $ | 110,516 |  |  | $ | (47,278) |  |  | $ | 649 |  |  | $ | 63,887 |
Customer relationships | 9 years |  | 432,200 |  |  | (42,077) |  |  | 13,093 |  |  | 403,216 |
Intellectual property | 13 years |  | 2,000 |  |  | (821) |  |  | — |  |  | 1,179 |
Trade name | 13 years |  | 16,725 |  |  | (3,088) |  |  | 329 |  |  | 13,966 |
|  |  | $ | 561,441 |  |  | $ | (93,264) |  |  | $ | 14,071 |  |  | $ | 482,248 |
Amortization expense in the Unaudited Condensed Consolidated Statements of Operations was $18.2 million and $18.7 million for the three months ended June 30, 2026 and 2025, respectively and $56.0 million and $31.1 million for the nine months ended June 30, 2026 and 2025, respectively. Over the next five years, amortization expense is estimated to be as follows:
(in thousands) |
Fiscal year: |
Remainder of 2026 | $ | 18,183 |
2027 | 72,730 |
2028 | 72,730 |
2029 | 47,913 |
2030 | 35,125 |

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- Definition The entire disclosure for intangible asset and goodwill. Includes, but is not limited to, finite- and indefinite-lived intangible assets, capitalized cost for internal-use software and software to be sold, leased, or marketed. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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