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Goodwill and Other Intangible Assets | 12 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Changes in the carrying amount of Goodwill were (in millions):
|  | Intelligent Devices |  | Software & Control |  | Lifecycle Services |  | Total
Balance as of October 1, 2022 |  | $ | 503.0 |  |  | $ | 2,398.7 |  |  | $ | 622.3 |  |  | $ | 3,524.0 |
Acquisition of businesses |  | 74.4 |  |  | — |  |  | 36.9 |  |  | 111.3 |
Impairment |  | — |  |  | — |  |  | (157.5) |  |  | (157.5) |
Translation |  | 18.4 |  |  | 21.4 |  |  | 11.6 |  |  | 51.4 |
Balance as of September 30, 2023 |  | $ | 595.8 |  |  | $ | 2,420.1 |  |  | $ | 513.3 |  |  | $ | 3,529.2 |
Acquisition of businesses |  | 283.1 |  |  | — |  |  | 133.5 |  |  | 416.6 |
Translation |  | 21.6 |  |  | 17.0 |  |  | 8.9 |  |  | 47.5 |
Balance as of September 30, 2024 |  | $ | 900.5 |  |  | $ | 2,437.1 |  |  | $ | 655.7 |  |  | $ | 3,993.3 |
Gross carrying value of Goodwill |  | $ | 900.5 |  |  | $ | 2,437.1 |  |  | $ | 813.2 |  |  | $ | 4,150.8 |
Accumulated impairment losses |  | — |  |  | — |  |  | (157.5) |  |  | (157.5) |
Goodwill |  | $ | 900.5 |  |  | $ | 2,437.1 |  |  | $ | 655.7 |  |  | $ | 3,993.3 |
We performed our annual evaluation of goodwill and indefinite life intangible assets for impairment during the second quarter of fiscal 2024 and concluded that these assets were not impaired. For our annual evaluation, we performed qualitative tests for our Intelligent Devices, Software & Control, and Lifecycle Services (excluding Sensia) reporting units and a quantitative test for our Sensia reporting unit. Refer to Note 1 for additional information on our goodwill impairment evaluations. 2023 Impairment Assessment Following formation in October 2019, our Sensia joint venture operations were challenged by the global pandemic, geopolitical activities, volatility in commodity prices and supply chain dynamics. The cumulative historical growth and profitability below plan had resulted in a declining cushion between carrying value and fair value in previous impairment tests. The joint venture partners appointed a new management team in 2023 and updated the strategy of Sensia, which included downward revisions to growth and profitability projections. Lower sales growth reflected historical performance and an updated outlook of market conditions. Lower profitability reflected an updated view of mix and volume. Based upon the update of Sensia’s strategy and projections in the fourth quarter of 2023, we determined that it was more likely than not that the fair value of Sensia was below its carrying value. As a result of this triggering event, we performed an interim quantitative analysis, using a combination of an income approach derived from discounted cash flows and a market multiples approach using selected comparable public companies, consistent with our annual impairment testing. As of the fourth quarter 2023 testing date, the carrying value of our Sensia reporting unit of $665.1 million was determined to be in excess of the reporting unit’s fair value, resulting in a $157.5 million goodwill impairment charge recorded in the Consolidated Statement of Operations. As of September 30, 2024, $160.7 million of goodwill remains within the Sensia reporting unit. Other intangible assets consist of (in millions):
|  | September 30, 2024
|  | Carrying Amount |  | Accumulated Amortization |  | Net
Amortized intangible assets |  |  |  |  |  |
Software products |  | $ | 104.5 |  |  | $ | 75.5 |  |  | $ | 29.0 |
Customer relationships |  | 619.4 |  |  | 186.5 |  |  | 432.9 |
Technology |  | 729.1 |  |  | 257.1 |  |  | 472.0 |
Trademarks |  | 132.0 |  |  | 43.8 |  |  | 88.2 |
Other |  | 5.9 |  |  | 5.4 |  |  | 0.5 |
Total amortized intangible assets |  | 1,590.9 |  |  | 568.3 |  |  | 1,022.6 |
Allen-Bradley® trademark not subject to amortization |  | 43.7 |  |  | — |  |  | 43.7 |
Other intangible assets |  | $ | 1,634.6 |  |  | $ | 568.3 |  |  | $ | 1,066.3 |
|  | September 30, 2023
|  | Carrying Amount |  | Accumulated Amortization |  | Net
Amortized intangible assets |  |  |  |  |  |
Software products |  | $ | 100.4 |  |  | $ | 65.1 |  |  | $ | 35.3 |
Customer relationships |  | 606.1 |  |  | 141.3 |  |  | 464.8 |
Technology |  | 424.1 |  |  | 173.1 |  |  | 251.0 |
Trademarks |  | 86.3 |  |  | 29.3 |  |  | 57.0 |
Other |  | 6.0 |  |  | 5.4 |  |  | 0.6 |
Total amortized intangible assets |  | 1,222.9 |  |  | 414.2 |  |  | 808.7 |
Allen-Bradley® trademark not subject to amortization |  | 43.7 |  |  | — |  |  | 43.7 |
Other intangible assets |  | $ | 1,266.6 |  |  | $ | 414.2 |  |  | $ | 852.4 |
Software products represent costs of computer software to be sold, leased, or otherwise marketed. Software products amortization expense was $11.6 million in 2024, $11.3 million in 2023, and $9.4 million in 2022. Estimated total amortization expense for all amortized intangible assets is $151.4 million in 2025, $148.9 million in 2026, $140.7 million in 2027, $128.4 million in 2028, and $88.7 million in 2029.

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- Definition The entire disclosure for goodwill and intangible assets. + 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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