XML 33 R16.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Goodwill And Intangible Assets | 3 Months Ended
--- | ---
Dec. 30, 2018
Goodwill And Intangible Assets [Abstract] |
Goodwill And Intangible Assets | NOTE 10 - GOODWILL AND INTANGIBLE ASSETS ﻿ Goodwill consists of the following:
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(in millions) |  | HHI |  | PET |  | H&G |  | HPC |  | Total
﻿As of September 30, 2018 |  | $ | 704.3 |  | $ | 435.9 |  | $ | 196.5 |  | $ | 118.0 |  | $ | 1,454.7
﻿Foreign currency impact |  |  | (3.6) |  |  | (2.8) |  |  | — |  |  | (0.9) |  |  | (7.3)
﻿As of December 30, 2018 |  | $ | 700.7 |  | $ | 433.1 |  | $ | 196.5 |  | $ | 117.1 |  | $ | 1,447.4
﻿ As a result of the Company’s divestiture of the GBL division and decision to retain the HPC division, the Company reconsidered the manner in which management views its business activities and reportable segments; which also changed the reporting units that the Company utilizes to recognize goodwill. Spectrum had historically recognized goodwill at its Global Batteries and Appliance (GBA) reporting unit and separate operating segment. With the separation of the GBL and HPC components, goodwill previously recognized as part of the GBA reporting unit was allocated to HPC and the GBL discontinued operations, based upon relative fair value, during the first quarter when the decision was made to retain the HPC division and segregate HPC assets from the GBL assets held for sale. No goodwill impairment was recorded in connection with the GBL divestiture and change to the plan of sale of the HPC division. Refer to Note 3 - Divestitures and Note 19 - Segment information for further discussion. ﻿ Certain tradename intangible assets have an indefinite life and are not amortized. The balance of tradenames not subject to amortization was $1,059.9 million and $1,064.4 million as of December 30, 2018 and September 30, 2018, respectively.. ﻿ The carrying value and accumulated amortization for definite lived intangible assets subject to amortization are as follows:
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  | December 30, 2018 |  | September 30, 2018
﻿(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
﻿Customer relationships |  | $ | 698.8 |  | $ | (300.7) |  | $ | 398.1 |  | $ | 701.3 |  | $ | (275.3) |  | $ | 426.0
﻿Technology assets |  |  | 181.4 |  |  | (81.0) |  |  | 100.4 |  |  | 181.5 |  |  | (78.2) |  |  | 103.3
﻿Tradenames |  |  | 153.2 |  |  | (108.4) |  |  | 44.8 |  |  | 153.2 |  |  | (105.1) |  |  | 48.1
﻿Total |  | $ | 1,033.4 |  | $ | (490.1) |  | $ | 543.3 |  | $ | 1,036.0 |  | $ | (458.6) |  | $ | 577.4
﻿ The range and weighted average useful lives for definite-lived intangible assets are as follows:
﻿ |  |  |  |  |
﻿Asset Type |  |  | Range |  | Weighted Average
﻿Customer relationships |  |  | 5 - 20 years |  | 18.5 years
﻿Technology assets |  |  | 5 - 18 years |  | 12.1 years
﻿Tradenames |  |  | 6 - 12 years |  | 11.9 years
﻿ Amortization expense from the intangible assets for the three months ended December 30, 2018 and December 31, 2017 was $32.8 million and $17.5 million, respectively. During the three month period ended December 30, 2018, there was incremental amortization expense of $15.5 million attributable to amortization expense on intangible assets of HPC that were previously held for sale. See Note 3 – Divestitures for further discussion over the change in plan to sell the HPC division. ﻿ Excluding the impact of any future acquisitions or changes in foreign currency, the Company estimates annual amortization expense of intangible assets for the next five fiscal years will be as follows: ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿ ﻿
﻿ |  |  |
﻿(in millions) |  | Amortization
﻿2019 |  | $ | 67.7
﻿2020 |  |  | 67.3
﻿2021 |  |  | 64.0
﻿2022 |  |  | 51.7
﻿2023 |  |  | 45.6
﻿

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 goodwill and 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_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration