Intangible Assets

6 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

Goodwill

The following table summarizes changes in the carrying amount of goodwill during the six months ended March 31, 2026:


(In millions)
Balance as of September 30, 2025	$	658.0
Acquisitions (a)	527.8
Dispositions	(3.4)

Balance at March 31, 2026	$	1,182.4

(a) Includes measurement period adjustments to reduce goodwill of $3.4 million for an acquisition that closed during fiscal 2025.

Other intangible assets

Valvoline’s purchased intangible assets were specifically identified when acquired, have finite lives, and are reported in Goodwill and intangibles, net within the Condensed Consolidated Balance Sheets. The following summarizes the gross carrying amounts and accumulated amortization of the Company’s intangible assets:


	March 31, 2026						September 30, 2025
(In millions)	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Trademarks and trade names	$	37.5	$	(14.4)	$	23.1	$	29.5	$	(12.7)	$	16.8
Reacquired franchise rights	126.1		(69.0)		57.1		122.3		(63.9)		58.4
Customer relationships	25.7		(9.2)		16.5		14.7		(8.5)		6.2
Other intangible assets	7.6		(6.5)		1.1		7.4		(6.3)		1.1
Total definite-lived intangible assets	$	196.9	$	(99.1)	$	97.8	$	173.9	$	(91.4)	$	82.5

The table that follows summarizes the actual and estimated amortization expense for the Company's current amortizable intangible assets:


	Actual		Estimated
	Six months ended March 31		Years ended September 30
(In millions)	2026		2026		2027		2028		2029		2030
Amortization expense	$	7.6	$	16.0	$	16.2	$	16.1	$	13.8	$	12.2