GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The following table displays a rollforward of the carrying amount of goodwill by reportable segment:


	U.S. Consumer		Hawthorne		Reportable Segment Total
Goodwill	$	245.7	$	617.0	$	862.7
Accumulated impairment losses	(1.8)		(617.0)		(618.8)
Balance at September 30, 2023	243.9		—		243.9





Goodwill	245.7		617.0		862.7
Accumulated impairment losses	(1.8)		(617.0)		(618.8)
Balance at September 30, 2024	243.9		—		243.9






Goodwill	245.7		617.0		862.7
Accumulated impairment losses	(1.8)		(617.0)		(618.8)
Balance at September 30, 2025	$	243.9	$	—	$	243.9

The following table presents intangible assets, net of accumulated amortization and impairment charges:


	September 30, 2025						September 30, 2024
	Gross Carrying Amount		Accumulated Amortization/ Impairment Charges		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization/ Impairment Charges		Net Carrying Amount

Finite-lived intangible assets:
Trade names	$	320.5	$	(275.7)	$	44.8	$	325.8	$	(272.8)	$	53.0
Customer relationships	246.3		(223.8)		22.5		253.1		(223.9)		29.2
Technology	50.1		(46.4)		3.7		50.2		(45.5)		4.7
Other	34.5		(27.6)		6.9		35.0		(27.0)		8.0
Total finite-lived intangible assets, net					77.9						94.9
Indefinite-lived intangible assets:
Indefinite-lived trade names					168.2						168.2
Roundup® marketing agreement amendment					155.7						155.7

Total indefinite-lived intangible assets					323.9						323.9
Total intangible assets, net					$	401.8					$	418.8

As a result of the annual impairment testing for fiscal 2025 and 2024, the Company determined that no goodwill impairment charges were required. Refer to “NOTE 3. IMPAIRMENT, RESTRUCTURING AND OTHER” for further details of intangible asset impairment charges recorded during fiscal 2025 and 2024.

During fiscal 2023, the Company identified circumstances that indicated the carrying amounts of Hawthorne’s long-lived assets, including trade names and customer relationships, may not be recoverable. Accordingly, the Company performed a recoverability test for long-lived assets during the fourth quarter of fiscal 2023. The Company concluded that the carrying value of these long-lived assets exceeded their estimated fair value and recorded non-cash, pre-tax impairment charges of $72.0 related to trade names and $45.7 related to customer relationships during the fourth quarter of fiscal 2023 in the “Impairment, restructuring and other” line in the Consolidated Statements of Operations. The fair values of long-lived assets were determined using income-based approaches, including the relief-from-royalty method for trade names, that include market participant expectations of cash flows that the assets will generate over the remaining useful life discounted to present value using an appropriate discount rate. These fair value estimates utilize significant unobservable inputs and thus represent Level 3 fair value measurements.

During fiscal 2023, the annual goodwill impairment testing resulted in a non-cash, pre-tax goodwill impairment charge of $10.3 related to the Other segment, which was recorded during the fourth quarter of fiscal 2023 in the “Impairment, restructuring and other” line in the Consolidated Statements of Operations. The carrying value of goodwill of the Other segment reporting unit after recognizing the impairment is zero. The estimated fair value of the Other segment reporting unit was based upon an equal weighting of the income-based and market-based approaches, utilizing estimated cash flows and a terminal value, discounted at a rate of return that reflects the relative risk of the cash flows, as well as valuation multiples derived from comparable publicly traded companies that are applied to the operating performance of the reporting unit. The fair value estimate utilizes significant unobservable inputs and thus represents a Level 3 fair value measurement.

Total amortization expense was $12.3, $15.7 and $25.2 for fiscal 2025, fiscal 2024 and fiscal 2023, respectively. Amortization expense is estimated to be as follows for the years ending September 30:


2026	$	10.7
2027	10.1
2028	8.6
2029	6.4
2030	6.2