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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill consists of the following:
(in millions) |  | GPC |  | H&G |  | Total
As of September 30, 2023 |  | $ | 512.1 |  |  | $ | 342.6 |  |  | $ | 854.7 |
Foreign currency impact |  | 5.4 |  | — |  |  | 5.4 |
As of December 31, 2023 |  | $ | 517.5 |  |  | $ | 342.6 |  |  | $ | 860.1 |
The carrying value and accumulated amortization of intangible assets are as follows:
|  | December 31, 2023 |  | September 30, 2023
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 640.0 |  |  | $ | (425.0) |  |  | $ | 215.0 |  |  | $ | 635.0 |  |  | $ | (412.9) |  |  | $ | 222.1 |
Technology assets |  | 75.3 |  |  | (37.2) |  |  | 38.1 |  |  | 75.3 |  |  | (35.9) |  |  | 39.4 |
Tradenames |  | 28.8 |  |  | (8.6) |  |  | 20.2 |  |  | 27.6 |  |  | (7.4) |  |  | 20.2 |
Total amortizable intangible assets |  | 744.1 |  |  | (470.8) |  |  | 273.3 |  |  | 737.9 |  |  | (456.2) |  |  | 281.7 |
Indefinite-lived intangible assets – tradenames |  | 783.0 |  |  | — |  |  | 783.0 |  |  | 778.4 |  |  | — |  |  | 778.4 |
Total Intangible Assets |  | $ | 1,527.1 |  |  | $ | (470.8) |  |  | $ | 1,056.3 |  |  | $ | 1,516.3 |  |  | $ | (456.2) |  |  | $ | 1,060.1 |
During the three month period ended December 31, 2023, the Company identified a triggering event attributable to a change in brand strategy shifting actual and projected future revenues resulting in recognition of a $4.0 million impairment on intangible assets. Amortization expense from the intangible assets for the three month periods ended December 31, 2023 and January 1, 2023 was $11.1 million and $10.4 million, respectively. Excluding the impact of any future acquisitions, dispositions 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
2024 |  | $ | 43.9 |
2025 |  | 40.8 |
2026 |  | 39.8 |
2027 |  | 39.8 |
2028 |  | 37.3 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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