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Goodwill and Intangibles | 9 Months Ended
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Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | Goodwill and Intangibles A summary of the changes in the carrying amounts of goodwill and intangible assets are as follows:
|  |  | Intangible Assets
| Goodwill |  | Indefinite Lived |  | Definite Lived |  | Total
Balance at September 30, 2015 (As Adjusted) | $ | 2,487.4 |  |  | $ | 1,490.3 |  |  | $ | 990.0 |  |  | $ | 2,480.3 |
Adjustments | 3.4 |  |  | 1.0 |  |  | 2.0 |  |  | 3.0 |
Impairments | (10.7 | ) |  | — |  |  | — |  |  | — |
Periodic amortization | — |  |  | — |  |  | (70.5 | ) |  | (70.5 | )
Effect of translation | (0.4 | ) |  | (12.4 | ) |  | (0.8 | ) |  | (13.2 | )
Balance at June 30, 2016 | $ | 2,479.7 |  |  | $ | 1,478.9 |  |  | $ | 920.7 |  |  | $ | 2,399.6 |
Goodwill and indefinite lived trade name intangibles are not amortized and are tested for impairment at least annually at the Company’s August financial period end, or more frequently if an event or circumstance indicates that an impairment loss may have been incurred between annual impairment tests. During the three and nine months ended June 30, 2016, the Company concluded that an interim impairment test of goodwill for its CorAmerica reporting unit was necessary. This conclusion was based on certain indicators of impairment, primarily related to an amendment, which becomes effective September 1, 2016, to an investment management agreement (“IMA”) to which CorAmerica is a party. The amendment changes the asset management fee structure, which is expected to result in a significant decrease to CorAmerica’s projected future revenues. In addition, the counterparty has reduced its allocation of investments into commercial mortgage loans, which is expected to reduce new loan originations by CorAmerica and reduce CorAmerica’s projected future revenues. Goodwill Impairment Test As noted above, during the three and nine months ended June 30, 2016, the Company determined that sufficient indicators of potential impairment existed to require an interim goodwill impairment analysis for the CorAmerica reporting unit. The Company estimated the fair value of the CorAmerica reporting unit using the income approach. Under the income approach, the Company calculated the fair value of the CorAmerica reporting unit based on the present value of estimated future cash flows. The Company’s estimate of discounted cash flows for each reporting unit required significant judgment. Cash flow projections are based on management’s estimates of revenue and operating margins, taking into consideration existing agreements, industry and market conditions. The discount rate used is based on the weighted-average cost of capital adjusted for the relevant risk associated with business-specific characteristics and the uncertainty related to CorAmerica’s ability to execute on the projected cash flows. The evaluation was management’s best estimate of projected fair values. Management’s estimate of implied fair value of goodwill was zero and, consequently, resulted in a goodwill impairment charge of $10.7. The goodwill impairment charge was reflected in “Impairments and bad debt expense” on the accompanying Condensed Consolidated Statements of Operations. Definite Lived Intangible Assets The range and weighted average useful lives for definite lived intangible assets are as follows:
| June 30, 2016 |  | September 30, 2015
| Cost |  | Accumulated Amortization |  | Net |  | Cost |  | Accumulated Amortization |  | Net
Customer relationships | $ | 984.0 |  |  | $ | (288.7 | ) |  | $ | 695.3 |  |  | $ | 985.2 |  |  | $ | (247.4 | ) |  | $ | 737.8 |
Technology assets | 236.3 |  |  | (91.0 | ) |  | 145.3 |  |  | 238.6 |  |  | (78.1 | ) |  | 160.5 |
Trade names | 165.4 |  |  | (85.3 | ) |  | 80.1 |  |  | 165.4 |  |  | (73.7 | ) |  | 91.7 |
| $ | 1,385.7 |  |  | $ | (465.0 | ) |  | $ | 920.7 |  |  | $ | 1,389.2 |  |  | $ | (399.2 | ) |  | $ | 990.0 |
At June 30, 2016, the range and weighted average useful lives for definite-lived intangibles assets were as follows:
Asset Type |  | Range |  | Weighted Average
Customer relationships |  | 2 to 20 years |  | 18.5 years
Technology assets |  | 4 to 18 years |  | 11.1 years
Trade names |  | 8 to 17 years |  | 16.2 years
Amortization expense for definite lived intangible assets for the three months ended June 30, 2016 and 2015 was $23.5 and $22.3, respectively, and $70.5 and $64.0 for the nine months ended June 30, 2016 and 2015, respectively. Excluding the impact of any future acquisitions or change in foreign currency, the Company estimates annual amortization expense of amortizable intangible assets for the next five fiscal years will be as follows:
Fiscal Year |  | Estimated Amortization Expense
2016 |  | $ | 93.9 |
2017 |  | 93.0 |
2018 |  | 86.2 |
2019 |  | 85.1 |
2020 |  | 84.9 |

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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