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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill, by segment, consists of the following:
(in millions) |  |  |  | GPC |  | H&G |  |  |  | Total
As of September 30, 2019 |  |  |  | $ | 430.4 |  |  | $ | 195.6 |  |  |  |  | $ | 626.0 |
Omega Sea acquisition (Note 4) |  |  |  | 8.6 |  |  | — |  |  |  |  | 8.6 |
Allocated to Coevorden Operations divestiture (Note 3) |  |  |  | (10.6) |  |  | — |  |  |  |  | (10.6) |
Foreign currency impact |  |  |  | 3.2 |  |  | — |  |  |  |  | 3.2 |
As of September 30, 2020 |  |  |  | $ | 431.6 |  |  | $ | 195.6 |  |  |  |  | $ | 627.2 |
Rejuvenate acquisition (Note 4) |  |  |  | — |  |  | 147.0 |  |  |  |  | 147.0 |
Armitage acquisition (Note 4) |  |  |  | 90.7 |  |  | — |  |  |  |  | 90.7 |
Foreign currency impact |  |  |  | 2.3 |  |  | — |  |  |  |  | 2.3 |
As of September 30, 2021 |  |  |  | $ | 524.6 |  |  | $ | 342.6 |  |  |  |  | $ | 867.2 |
There were no impairments recognized during the years ended September 30, 2021 and 2020. During the year ended September 30, 2019, the Company recognized an impairment loss on goodwill from the HPC reporting unit of $116.0 million as a result of HPC being previously held for sale in addition to competitive market pressures, reduced margin realization and decline in operating results during the year ended September 30, 2019. There are no reporting units that were deemed at risk of impairment as of September 30, 2021 as all reporting units have significant excess of fair value over carrying value. The carrying value of indefinite lived intangible and definite lived intangible assets subject to amortization and accumulated amortization are as follows:
|  | 2021 |  | 2020
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortizable Intangible Assets |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 619.6 |  |  | $ | (352.3) |  |  | $ | 267.3 |  |  | $ | 596.5 |  |  | $ | (319.1) |  |  | $ | 277.4 |
Technology assets |  | 75.3 |  |  | (25.8) |  |  | 49.5 |  |  | 124.7 |  |  | (59.6) |  |  | 65.1 |
Tradenames |  | 158.4 |  |  | (141.9) |  |  | 16.5 |  |  | 156.8 |  |  | (128.5) |  |  | 28.3 |
Total Amortizable Intangible Assets |  | 853.3 |  |  | (520.0) |  |  | 333.3 |  |  | 878.0 |  |  | (507.2) |  |  | 370.8 |
Indefinite-lived Intangible Assets - Tradenames |  | 870.8 |  |  | — |  |  | 870.8 |  |  | 675.9 |  |  | — |  |  | 675.9 |
Total Intangible Assets |  | $ | 1,724.1 |  |  | $ | (520.0) |  |  | $ | 1,204.1 |  |  | $ | 1,553.9 |  |  | $ | (507.2) |  |  | $ | 1,046.7 |
There were no impairments recognized for intangible assets during the year ended September 30, 2021. During the year ended September 30, 2020, the Company recognized an impairment loss of $16.6 million on indefinite-lived intangible assets and an impairment of $7.6 million on definite lived intangible assets due to the incremental cash flow risk associated with the commercial DCF business following the divestiture of the Coevorden Operations. During the year ended September 30, 2019, the Company recognized an impairment loss of $18.8 million and $16.6 million on indefinite life intangible assets associated with the with the HPC and GPC segments, respectively, due to the reduction in value on certain tradenames primarily due to reduced sales volume and response to changes in management’s strategy. As of September 30, 2021, there were no material intangible assets that would be deemed at risk of future impairment due to limited excess fair value. Amortization expense from intangible assets for the years ended September 30, 2021, 2020 and 2019 was $65.1 million, $55.3 million and $70.8 million, respectively. During the year ended September 30, 2019, there was an incremental amortization expense of $15.5 million recognized attributable to cumulative amortization expense on intangible assets of HPC that were previously deferred when classified as held for sale. Excluding the impact of any future acquisitions or changes in foreign currency, the Company anticipates the annual amortization expense of intangible assets for the next five fiscal years will be as follows:
(in millions) |  | Amortization
2022 |  | $ | 49.2 |
2023 |  | 40.2 |
2024 |  | 40.2 |
2025 |  | 38.1 |
2026 |  | 36.5 |

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