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Goodwill And Other Intangible Assets
 12 Months Ended
Sep. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets GOODWILL AND OTHER INTANGIBLE ASSETS:
Goodwill represents the excess of the fair value of consideration paid for an acquired entity over the fair value of assets acquired and liabilities assumed in a business combination. Goodwill is not amortized and is subject to an impairment test that the Company conducts annually or more frequently if a change in circumstances or the occurrence of events indicates that potential impairment exists, using discounted cash flows. The Company performs its assessment of goodwill at the reporting unit level. Within the FSS International segment, each country or region is evaluated separately since such operating units are relatively autonomous and separate goodwill balances have been recorded for each entity. The Company performs its annual impairment test as of the end of the fiscal month of August. For reporting units in which the Company’s qualitative assessment indicates that it is more likely than not that the fair value of a reporting unit exceeds its carrying amount, no further impairment testing is performed. For those reporting units where events or changes in circumstances indicate that potential impairment indicators exist, the Company performs a quantitative assessment to test goodwill by comparing the estimated fair value using discounted cash flow calculations of each reporting unit with its estimated net book value. The discounted cash flow calculations are dependent on several subjective factors including the timing of future cash flows, future growth rates and the discount rate. If assumptions or estimates in the fair value calculations change or if future cash flows or future growth rates vary from what was planned, this may impact the impairment analysis.
The Company performed an impairment test for goodwill for each of the reporting units using a qualitative testing approach, except for one reporting unit which was tested using the quantitative approach. Based on the evaluations performed, the Company determined that it was more likely than not that the fair value of each of the reporting units exceeded its respective carrying amount, and therefore, the Company determined that goodwill was not impaired. The fair value of the reporting unit in the FSS International segment for which goodwill was tested using the quantitative approach has a goodwill balance of $282.3 million and a fair value that exceeded its carrying value by approximately 22% in fiscal 2019.
Changes in total goodwill during fiscal 2019 is as follows (in thousands):
Segment
September 28, 2018
 
Acquisitions and Divestitures
 
Translation and Other
 
September 27, 2019
FSS United States(1)
$
4,028,454

 
$
(81,823
)
 
$
2,587

 
$
3,949,218

FSS International
626,379

 
16,135

 
(34,046
)
 
608,468

Uniform
955,735

 
3,981

 
1,398

 
961,114

 
$
5,610,568

 
$
(61,707
)
 
$
(30,061
)
 
$
5,518,800


(1)
Includes the removal of approximately $87.0 million of goodwill related to the divestiture of HCT during the first quarter of fiscal 2019 (see Note 2).

Other intangible assets consist of (in thousands):
 
September 27, 2019
 
September 28, 2018
 
Gross
Amount
 
Accumulated
Amortization
 
Net
Amount
 
Gross
Amount
 
Accumulated
Amortization
 
Net
Amount
Customer relationship assets
$
2,183,492

 
$
(1,193,525
)
 
$
989,967

 
$
2,244,215

 
$
(1,156,811
)
 
$
1,087,404

Trade names
1,047,959

 
(4,360
)
 
1,043,599

 
1,050,825

 
(1,385
)
 
1,049,440

 
$
3,231,451

 
$
(1,197,885
)
 
$
2,033,566

 
$
3,295,040

 
$
(1,158,196
)
 
$
2,136,844



During fiscal 2019, the Company acquired customer relationship assets and trade names with values of approximately $28.5 million and $4.4 million, respectively. During fiscal 2018, the Company acquired customer relationship assets and trade names with values of approximately $887.5 million and $246.0 million, respectively. Customer relationship assets are being amortized principally on a straight-line basis over the expected period of benefit, between 9 and 24 years, with a weighted average life of approximately 14 years. The Aramark, Avendra and a majority of the other trade names are indefinite lived intangible assets and are not amortizable but are evaluated for impairment at least annually. The Company completed its annual trade name impairment test for fiscal 2019, which did not result in an impairment charge. Amortization of other intangible assets for fiscal 2019, fiscal 2018 and fiscal 2017 was approximately $117.0 million, $112.1 million and $87.9 million, respectively.
Based on the recorded balances at September 27, 2019, total estimated amortization of all acquisition-related intangible assets for fiscal years 2020 through 2024 follows (in thousands):
2020
$
113,136

2021
105,929

2022
85,709

2023
78,843

2024
78,464