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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Dec. 29, 2024
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, 2024 |  | $ | 522.3 |  |  | $ | 342.6 |  |  | $ | 864.9 |
Foreign currency impact |  | (8.4) |  |  | — |  |  | (8.4) |
As of December 29, 2024 |  | $ | 513.9 |  |  | $ | 342.6 |  |  | $ | 856.5 |
The carrying value and accumulated amortization of intangible assets are as follows:
|  | December 29, 2024 |  | September 30, 2024
(in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 634.0 |  |  | $ | (455.4) |  |  | $ | 178.6 |  |  | $ | 641.8 |  |  | $ | (452.3) |  |  | $ | 189.5 |
Technology assets |  | 75.3 |  |  | (42.3) |  |  | 33.0 |  |  | 75.3 |  |  | (41.0) |  |  | 34.3 |
Tradenames |  | 27.7 |  |  | (11.2) |  |  | 16.5 |  |  | 27.9 |  |  | (10.9) |  |  | 17.0 |
Total amortizable intangible assets |  | 737.0 |  |  | (508.9) |  |  | 228.1 |  |  | 745.0 |  |  | (504.2) |  |  | 240.8 |
Indefinite-lived intangible assets – tradenames |  | 734.8 |  |  | — |  |  | 734.8 |  |  | 749.6 |  |  | — |  |  | 749.6 |
Total intangible assets |  | $ | 1,471.8 |  |  | $ | (508.9) |  |  | $ | 962.9 |  |  | $ | 1,494.6 |  |  | $ | (504.2) |  |  | $ | 990.4 |
Amortization expense on intangible assets for the three month periods ended December 29, 2024 and December 31, 2023 is as follows.
(in millions) |  | December 29, 2024 |  | December 31, 2023 |  |  |  |
Amortization expense |  | $ | 10.5 |  |  | $ | 11.1 |  |  |  |  |
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
2025 |  | $ | 40.6 |
2026 |  | 39.5 |
2027 |  | 39.5 |
2028 |  | 37.0 |
2029 |  | 29.2 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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