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Goodwill and Intangible Assets | 3 Months Ended
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Jan. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill consists of the following:
(in millions) |  | HHI |  | GPC |  | H&G |  | Total
As of September 30, 2020 |  | $ | 704.8 |  |  | $ | 431.6 |  |  | $ | 195.6 |  |  | $ | 1,332.0 |
Foreign currency impact |  | 5.3 |  |  | 4.9 |  |  | — |  |  | 10.2 |
Armitage acquisition (Note 3) |  | — |  |  | 90.7 |  |  | — |  |  | 90.7 |
As of January 3, 2021 |  | $ | 710.1 |  |  | $ | 527.2 |  |  | $ | 195.6 |  |  | $ | 1,432.9 |
The Company considered the impact of the COVID-19 pandemic on its future operations and cash flows and concluded that, although the duration and severity of the COVID-19 pandemic could result in future impairment charges not currently considered, no triggering event occurred during the three month period ended January 3, 2021 to indicate an impairment of goodwill. The carrying value of indefinite-lived intangibles and definite-lived intangibles assets subject to amortization and accumulated amortization are as follows:
|  | January 3, 2021 |  | September 30, 2020
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortizable Intangible Assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 712.7 |  |  | $ | (381.1) |  |  | $ | 331.6 |  |  | $ | 692.1 |  |  | $ | (367.9) |  |  | $ | 324.2 |
Technology assets |  | 175.8 |  |  | (107.8) |  |  | 68.0 |  |  | 175.7 |  |  | (104.1) |  |  | 71.6 |
Tradenames |  | 161.0 |  |  | (136.2) |  |  | 24.8 |  |  | 161.0 |  |  | (132.6) |  |  | 28.4 |
Total Amortizable Intangible Assets |  | 1,049.5 |  |  | (625.1) |  |  | 424.4 |  |  | 1,028.8 |  |  | (604.6) |  |  | 424.2 |
Indefinite-lived Intangible Assets - Tradenames |  | 1,092.3 |  |  | — |  |  | 1,092.3 |  |  | 1,007.5 |  |  | — |  |  | 1,007.5 |
Total Intangible Assets |  | $ | 2,141.8 |  |  | $ | (625.1) |  |  | $ | 1,516.7 |  |  | $ | 2,036.3 |  |  | $ | (604.6) |  |  | $ | 1,431.7 |
There were no impairments identified during the three month period ended January 3, 2021. While a triggering event did not occur during the three month period ended January 3, 2021, a prolonged COVID-19 pandemic negatively impacting net sales growth rate, changes in key assumptions, and other global and regional macroeconomic factors, could result in additional future impairment charges for indefinite-lived intangible assets. Amortization expense from the intangible assets for the three month periods ended January 3, 2021 and December 29, 2019 was $17.2 million and $17.1 million, respectively. 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
2021 |  | $ | 74.9 |
2022 |  | 51.8 |
2023 |  | 46.0 |
2024 |  | 45.6 |
2025 |  | 43.3 |

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- 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
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