Goodwill and Intangible Assets

12 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

17. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following summarizes changes in the carrying value of goodwill by segment for the years ended September 30, 2021 and 2020:


	Communications		Residential		Infrastructure Solutions		Commercial & Industrial		Total
Balance at September 30, 2019	$	2,816	$	10,018	$	30,812	$	6,976	$	50,622
Acquisitions (Note 19)	—		6,201		3,916		—		10,117
Goodwill impairment	—		—		—		(6,976)		(6,976)
Balance at September 30, 2020	2,816		16,219		34,728		—		53,763
Acquisitions (Note 19)	—		35,151		3,481		—		38,632

Balance at September 30, 2021	$	2,816	$	51,370	$	38,209	$	—	$	92,395

Based on the results of our annual goodwill impairment assessment at September 30, 2021, we concluded the fair value of each of our reporting units exceeded its book value, and therefore we recorded no impairment charges for the year ended September 30, 2021.

In 2020, our Commercial & Industrial reporting unit experienced operating losses. Our performance was affected by the COVID-19 pandemic and other market factors which delayed the awarding of new projects, decreased demand for new construction in market sectors such as retail, office, and hospitality, and negatively impacted our revenue, profitability and backlog. As a result of this increasingly competitive and uncertain environment, and the financial performance of this reporting unit, we concluded in performing our annual goodwill impairment assessment as of September 30, 2020 that the fair value of our Commercial & Industrial reporting unit was less than its carrying amount, which resulted in the recognition of a non-cash goodwill impairment charge of $6,976 for the year ended September 30, 2020.

Intangible Assets

Intangible assets consist of the following:


				September 30, 2021
	Estimated Useful Lives (in Years)			Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20	$	15,262	$	(2,891)	$	12,371
Technical library	20			400		(161)		239
Customer relationships	6	-	15	96,879		(24,021)		72,858
Non-competition arrangements	5			40		(25)		15
Backlog and construction contracts	1			4,957		(4,821)		136
Total				$	117,538	$	(31,919)	$	85,619


				September 30, 2020
	Estimated Useful Lives (in Years)			Gross Carrying Amount		Accumulated Amortization		Net
Trademarks/trade names	5	-	20	$	7,754	$	(1,741)	$	6,013
Technical library	20			400		(141)		259
Customer relationships	6	-	15	46,449		(14,900)		31,549
Non-competition arrangements	5			40		(17)		23
Backlog and construction contracts	1			3,383		(1,870)		1,513
Total				$	58,026	$	(18,669)	$	39,357

For the years ended September 30, 2021, 2020, and 2019, amortization expense of intangible assets was $13,191, $6,424 and $3,950, respectively. Our estimated future amortization expense for years ending September 30 is as follows:


Year Ending September 30,
2022	$	13,683
2023	13,153
2024	12,810
2025	12,370
2026	12,030
Thereafter	21,573
Total	$	85,619