Goodwill And Intangible Assets

12 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill are as follows:


	Aircraft Controls		Space and Defense Controls		Industrial Systems		Total
Balance at October 3, 2020	$	179,521	$	261,726	$	380,609	$	821,856
Acquisition	29,123		—		—		29,123



Divestiture	(312)		—		(3,092)		(3,404)
Foreign currency translation	2,447		41		1,542		4,030
Balance at October 2, 2021	210,779		261,767		379,059		851,605
Acquisition	5,344		—		—		5,344



Divestitures	(6,961)		(2,205)		(4,137)		(13,303)
Foreign currency translation	(9,643)		(155)		(28,528)		(38,326)
Balance at October 1, 2022	199,519		259,407		346,394		805,320

Adjustments to prior year acquisitions	122		—		—		122



Foreign currency translation	4,247		68		11,544		15,859
Balance at September 30, 2023	$	203,888	$	259,475	$	357,938	$	821,301

Goodwill in our Space and Defense Controls segment is net of a $4,800 accumulated impairment loss at September 30, 2023. Goodwill in our Medical Devices reporting unit, included in our Industrial Systems segment, is net of a $38,200 accumulated impairment loss at September 30, 2023.

The components of intangible assets are as follows:


		September 30, 2023				October 1, 2022
	Weighted- Average Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer-related	11	$	133,269	$	(93,648)	$	135,899	$	(88,179)
Technology-related	9	69,242		(56,106)		69,856		(52,951)
Program-related	23	37,465		(21,672)		35,305		(18,817)
Marketing-related	8	21,890		(18,995)		21,925		(17,833)
Other	10	1,773		(1,581)		1,693		(1,488)
Intangible assets	12	$	263,639	$	(192,002)	$	264,678	$	(179,268)

All acquired intangible assets other than goodwill are being amortized. Customer-related intangible assets primarily consist of customer relationships. Technology-related intangible assets primarily consist of technology, patents, intellectual property and software. Program-related intangible assets consist of long-term programs represented by current contracts and probable follow on work. Marketing-related intangible assets primarily consist of trademarks, trade names and non-compete agreements.

In 2023, we recorded $4,409 in impairment charges on long-lived assets in our Aircraft Controls and Industrial Systems segments. These charges relate to a decline in value with the associated business and the retirement of a trade name intangible. In 2022, we recorded $2,125 in impairment charges on long-lived assets in our Industrial Systems segment. These charges relate to intangibles assets associated with a product line we are no longer pursuing. In 2021, we recorded $1,144 in impairment charges on long-lived assets in our Space and Defense Controls segment, relating to intangibles assets that experienced a decline in value.

Amortization of acquired intangible assets is as follows:


	2023		2022		2021
Acquired intangible asset amortization	$	11,514	$	13,106	$	13,454

Based on acquired intangible assets recorded at September 30, 2023, amortization is estimated to be approximately:


	2024		2025		2026		2027		2028
Estimated future amortization of acquired intangible assets	$	10,400	$	9,300	$	9,100	$	7,800	$	7,000