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Other Intangible Assets | 9 Months Ended
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Jun. 24, 2023
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)
June 24, 2023 |  |  |  |  |  |  |  |
Marketing-related intangible assets – amortizable |  | $ | 22.1 |  |  | $ | (21.3) |  |  | $ | — |  |  | $ | 0.8 |
Marketing-related intangible assets – nonamortizable |  | 252.5 |  |  | — |  |  | (26.0) |  |  | 226.5 |
Total |  | 274.6 |  |  | (21.3) |  |  | (26.0) |  |  | 227.3 |
Customer-related intangible assets – amortizable |  | 416.4 |  |  | (140.3) |  |  | (7.3) |  |  | 268.8 |
Other acquired intangible assets – amortizable |  | 39.7 |  |  | (29.5) |  |  | — |  |  | 10.2 |
Other acquired intangible assets – nonamortizable |  | 7.1 |  |  | — |  |  | (1.2) |  |  | 5.9 |
Total |  | 46.8 |  |  | (29.5) |  |  | (1.2) |  |  | 16.1 |
Total other intangible assets, net |  | $ | 737.8 |  |  | $ | (191.2) |  |  | $ | (34.5) |  |  | $ | 512.2 |
|  | Gross |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Value
|  | (in millions)
June 25, 2022 |  |  |  |  |  |  |  |
Marketing-related intangible assets – amortizable |  | $ | 22.1 |  |  | $ | (20.2) |  |  | $ | — |  |  | $ | 1.9 |
Marketing-related intangible assets – nonamortizable |  | 218.2 |  |  | — |  |  | (26.0) |  |  | 192.2 |
Total |  | 240.3 |  |  | (20.2) |  |  | (26.0) |  |  | 194.1 |
Customer-related intangible assets – amortizable |  | 386.4 |  |  | (107.1) |  |  | (2.5) |  |  | 276.8 |
Other acquired intangible assets – amortizable |  | 39.7 |  |  | (25.5) |  |  | — |  |  | 14.2 |
Other acquired intangible assets – nonamortizable |  | 7.1 |  |  | — |  |  | (1.2) |  |  | 5.9 |
Total |  | 46.8 |  |  | (25.5) |  |  | (1.2) |  |  | 20.1 |
Total other intangible assets, net |  | $ | 673.5 |  |  | $ | (152.8) |  |  | $ | (29.8) |  |  | $ | 491.0 |
|  | Gross |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Value
|  | (in millions)
September 24, 2022 |  |  |  |  |  |  |  |
Marketing-related intangible assets – amortizable |  | $ | 22.1 |  |  | $ | (20.5) |  |  | $ | — |  |  | $ | 1.5 |
Marketing-related intangible assets – nonamortizable |  | 252.5 |  |  | — |  |  | (26.0) |  |  | 226.5 |
Total |  | 274.6 |  |  | (20.5) |  |  | (26.0) |  |  | 228.0 |
Customer-related intangible assets – amortizable |  | 416.4 |  |  | (117.8) |  |  | (2.5) |  |  | 296.1 |
Other acquired intangible assets – amortizable |  | 39.7 |  |  | (26.6) |  |  | — |  |  | 13.2 |
Other acquired intangible assets – nonamortizable |  | 7.1 |  |  | — |  |  | (1.2) |  |  | 5.9 |
Total |  | 46.8 |  |  | (26.6) |  |  | (1.2) |  |  | 19.1 |
Total other intangible assets, net |  | $ | 737.8 |  |  | $ | (164.9) |  |  | $ | (29.8) |  |  | $ | 543.2 |
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. During the three months ended June 24, 2023, the Company recognized a non-cash $4.7 million impairment charge to a certain amortizable customer-related intangible asset in the Pet Segment as a result of market changes and declining sales. 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, 12 years for customer-related intangibles and six years for other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately $8.4 million and $8.3 million for the three months ended June 24, 2023 and June 25, 2022, respectively, and $26.3 million and $23.0 million for the nine months ended June 24, 2023 and June 25, 2022, 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 $35 million per year from fiscal 2023 through fiscal 2025 and $26 million per year from fiscal 2026 through fiscal 2027.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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