XML 24 R12.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Other Intangible Assets | 3 Months Ended
--- | ---
Dec. 25, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | Other Intangible Assets The following table summarizes the components of gross and net acquired intangible assets:
|  | Gross |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Value
|  | (in millions)
December 25, 2021 |  |  |  |  |  |  |  |
Marketing-related intangible assets – amortizable |  | $ | 22.1 |  |  | $ | (19.4) |  |  | $ | — |  |  | $ | 2.6 |
Marketing-related intangible assets – nonamortizable |  | 70.6 |  |  | — |  |  | (26.0) |  |  | 44.6 |
Total |  | 92.7 |  |  | (19.4) |  |  | (26.0) |  |  | 47.2 |
Customer-related intangible assets – amortizable |  | 143.6 |  |  | (78.3) |  |  | (2.5) |  |  | 62.8 |
Other acquired intangible assets – amortizable |  | 37.2 |  |  | (22.9) |  |  | — |  |  | 14.3 |
Other acquired intangible assets – nonamortizable |  | 7.1 |  |  | — |  |  | (1.2) |  |  | 5.9 |
Total |  | 44.3 |  |  | (22.9) |  |  | (1.2) |  |  | 20.2 |
Total other intangible assets, net |  | $ | 280.6 |  |  | $ | (120.6) |  |  | $ | (29.8) |  |  | $ | 130.2 |
|  | Gross |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Value
|  | (in millions)
December 26, 2020 |  |  |  |  |  |  |  |
Marketing-related intangible assets – amortizable |  | $ | 20.6 |  |  | $ | (17.8) |  |  | $ | — |  |  | $ | 2.8 |
Marketing-related intangible assets – nonamortizable |  | 70.6 |  |  | — |  |  | (26.0) |  |  | 44.6 |
Total |  | 91.2 |  |  | (17.8) |  |  | (26.0) |  |  | 47.4 |
Customer-related intangible assets – amortizable |  | 140.3 |  |  | (66.8) |  |  | (2.5) |  |  | 71.0 |
Other acquired intangible assets – amortizable |  | 26.0 |  |  | (18.7) |  |  | — |  |  | 7.3 |
Other acquired intangible assets – nonamortizable |  | 7.1 |  |  | — |  |  | (1.2) |  |  | 5.9 |
Total |  | 33.1 |  |  | (18.7) |  |  | (1.2) |  |  | 13.2 |
Total other intangible assets, net |  | $ | 264.6 |  |  | $ | (103.3) |  |  | $ | (29.8) |  |  | $ | 131.6 |
|  | Gross |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Value
|  | (in millions)
September 25, 2021 |  |  |  |  |  |  |  |
Marketing-related intangible assets – amortizable |  | $ | 22.1 |  |  | $ | (19.0) |  |  | $ | — |  |  | $ | 3.1 |
Marketing-related intangible assets – nonamortizable |  | 70.6 |  |  | — |  |  | (26.0) |  |  | 44.6 |
Total |  | 92.7 |  |  | (19.0) |  |  | (26.0) |  |  | 47.7 |
Customer-related intangible assets – amortizable |  | 143.6 |  |  | (75.4) |  |  | (2.5) |  |  | 65.7 |
Other acquired intangible assets – amortizable |  | 37.2 |  |  | (22.0) |  |  | — |  |  | 15.2 |
Other acquired intangible assets – nonamortizable |  | 7.1 |  |  | — |  |  | (1.2) |  |  | 5.9 |
Total |  | 44.3 |  |  | (22.0) |  |  | (1.2) |  |  | 21.1 |
Total other intangible assets, net |  | $ | 280.6 |  |  | $ | (116.4) |  |  | $ | (29.8) |  |  | $ | 134.4 |
Other acquired intangible assets include contract-based and technology-based intangible assets. The Company evaluates long-lived assets, including amortizable and indefinite-lived intangible assets, for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company evaluates indefinite-lived intangible assets on an annual basis. Factors indicating the carrying value of the Company’s amortizable intangible assets may not be recoverable were not present in the three months ended December 25, 2021, and accordingly, no impairment testing was performed on these assets. The Company amortizes its acquired intangible assets with definite lives over periods ranging from two years to 25 years; over weighted average remaining lives of two years for marketing-related intangibles, seven years for customer-related intangibles and six years for other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately and $4.2 million and $3.4 million for the three months ended December 25, 2021 and December 26, 2020, respectively, and is classified within selling, general and administrative expenses in the condensed consolidated statements of operations. Estimated annual amortization expense related to acquired intangible assets in each of the succeeding five years is estimated to be approximately $14 million per year from fiscal 2022 through fiscal 2026 and thereafter.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration