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Intangible Assets
 9 Months Ended
Jul. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets
Intangible Assets
Intangible assets consisted of the following:
 
Description
As of July 1, 2017
 
As of September 24, 2016
Gross
Carrying
Value
 
Accumulated
Amortization
 
Gross
Carrying
Value
 
Accumulated
Amortization
Developed technology
$
4,467.5

 
$
2,107.5

 
$
3,983.7

 
$
1,991.6

In-process research and development
107.0

 
—

 
3.7

 
—

Customer relationships
552.2

 
384.2

 
1,098.9

 
546.2

Trade names
310.2

 
151.6

 
236.2

 
141.6

Non-competition agreements
1.5

 
0.1

 
—

 
—

Distribution agreement
42.0

 
1.5

 
—

 
—

Business licenses
2.4

 
2.1

 
2.4

 
2.1

 
$
5,482.8


$
2,647.0


$
5,324.9


$
2,681.5


During the second quarter, the Company divested its blood screening business and as such $154.0 million of net book value of developed technology and $387.7 million of net book value of customer contract assets were disposed of. In addition, in the second quarter of fiscal 2017, the Company acquired Cynosure and recorded an aggregate of $994.0 million of intangible assets (see Note 3). In the third quarter of fiscal 2017, the Company acquired Medicor and recorded $5.4 million of intangible assets. In addition, during the third quarter of fiscal 2017, the Company obtained CE approval for its last in-process research and development project acquired in the Gen-Probe Incorporated acquisition and transferred $3.7 million to developed technology.
In the third quarter of fiscal 2016, the Company accelerated the amortization of its Cystic Fibrosis developed technology asset of $6.2 million as a result of discontinuing this product line.
The estimated remaining amortization expense as of July 1, 2017 for each of the five succeeding fiscal years is as follows:
Remainder of Fiscal 2017
$
94.3

Fiscal 2018
$
370.4

Fiscal 2019
$
358.7

Fiscal 2020
$
347.5

Fiscal 2021
$
326.0