XML 98 R14.htm IDEA: XBRL DOCUMENT v3.19.3
Goodwill and Intangibles
 12 Months Ended
Sep. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangibles
Goodwill and Intangibles
As a result of the refinement of the segment realignment this year, see Note 19- Segment Information, a portion of the historical carrying value of goodwill for the former Aerospace, Technology, Environmental and Nuclear segment was allocated to the People & Places Solutions segment on a relative fair value basis to reflect the movement of the Global Environmental Solutions ("GES") business between segments. Additionally, because of the sale of the Energy, Chemicals and Resources ("ECR") line of business (see Note 7- Sale of Energy, Chemicals and Resources ("ECR") Business) which is now reflected as discontinued operations, the goodwill balance associated with ECR has been reclassified to noncurrent assets held for sale on the Consolidated Balance Sheet for the year ended September 28, 2018. The carrying value of goodwill associated with continuing operations and appearing in the accompanying Consolidated Balance Sheets for the year ended September 27, 2019 was as follows (in millions):
 
Critical Mission Solutions
 
People & Places Solutions
 
Total
Balance September 28, 2018
$
1,581

 
$
3,215

 
$
4,796

Acquired
612

 
—

 
612

Post-Acquisition Adjustments relating to prior year acquisition
17

 
34

 
51

Foreign Exchange Impact
(8
)
 
(18
)
 
(26
)
Balance September 27, 2019
$
2,202

 
$
3,231

 
$
5,433


The following table provides a roll-forward of the Company’s acquired intangibles in the accompanying Consolidated Balance Sheets for the year ended September 27, 2019 (in thousands):
 
Customer Relationships, Contracts and Backlog
 
Developed Technology
 
Trade Names
 
Lease Intangible Assets
 
Total
Balances, September 28, 2018
$
568,323

 
$
—

 
$
2,102

 
$
2,527

 
$
572,952

Acquired
137,000

 
42,000

 
—

 
—

 
179,000

Disposal
—

 
—

 
—

 
(883
)
 
(883
)
Amortization
(76,565
)
 
(1,167
)
 
(920
)
 
(446
)
 
(79,098
)
Foreign currency translation
(6,366
)
 
—

 
1

 
(530
)
 
(6,895
)
Balance at September 27, 2019
$
622,392

 
$
40,833

 
$
1,183

 
$
668

 
$
665,076

Weighted Average Amortization Period (years)
8

 
12

 
9

 
2

 
8


In addition, we acquired $4.7 million in lease intangible liabilities in connection with the CH2M and KeyW acquisitions, of which $4.0 million remain unamortized at September 27, 2019.
The weighted average amortization period includes the effects of foreign currency translation.
The following table presents estimated amortization expense of intangible assets for fiscal 2019 and for the succeeding years. The amounts below include preliminary amortization estimates for the KeyW opening balance sheet fair values that are still preliminary and are subject to change.
Fiscal Year
 
(in millions)
2020
 
$
86.6

2021
 
82.8

2022
 
81.7

2023
 
81.4

2024
 
81.4

Thereafter
 
247.2

Total
 
$
661.1