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Intangible Assets and Goodwill
3 Months Ended
Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets
Intangible assets consisted of the following:
 
DescriptionAs of December 28, 2024As of September 28, 2024
Gross
Carrying
Value
Accumulated
Amortization
Gross
Carrying
Value
Accumulated
Amortization
Acquired intangible assets:
Developed technology$4,562.7 $3,877.3 $4,567.0 $3,834.0 
In-process research and development24.9 — 25.1 — 
Customer relationships607.7 570.2 609.7 569.8 
Trade names259.6 225.5 260.3 224.5 
Total acquired intangible assets$5,454.9 $4,673.0 $5,462.1 $4,628.3 
Internal-use software26.0 20.8 25.7 20.5 
Capitalized software embedded in products31.1 24.9 30.2 24.6 
Total intangible assets$5,512.0 $4,718.7 $5,518.0 $4,673.4 

The estimated remaining amortization expense of the Company’s acquired intangible assets as of December 28, 2024 for each of the five succeeding fiscal years was as follows:

Remainder of Fiscal 2025
$148.1 
Fiscal 2026$169.0 
Fiscal 2027$81.9 
Fiscal 2028$78.8 
Fiscal 2029
$73.2 

During the first quarter of fiscal 2024, the Company assessed its in-process research and development intangible asset from its Mobidiag acquisition for impairment. The Company determined the fair value of this indefinite-lived asset utilizing the discounted cash flow model and recorded a $4.3 million impairment charge, reducing the fair value of this asset to $22.4 million. The reduction in the fair value of this asset was primarily due to a reduction in forecasted revenues and a delay in the timing of completing the project. In addition, the Company determined that the useful life of the customer relationship and trade name intangible assets from its Mobidiag acquisition should be shortened and recorded accelerated amortization expense of $7.3 million to bring the net carrying values to zero.