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Goodwill and Intangible Assets | 12 Months Ended
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Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 8. Goodwill and Intangible Assets Goodwill represents the excess of net book value over the estimated fair value of net tangible and identifiable intangible assets of a reporting unit. Goodwill is tested for impairment annually or more often if impairment indicators are present at the reporting unit level. The Company elected April 1st as its annual goodwill impairment assessment date. If the existence of events or circumstances indicates that it is more likely than not that fair values of the reporting units are below their carrying values, the Company performs additional impairment tests during interim periods to evaluate goodwill for impairment. In accordance with ASC 350, the Company initially assesses qualitative factors to determine whether the existence of events or circumstances indicates that it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the Company determines, based on this assessment, that it is more likely than not that the fair value of the reporting unit is less than its carrying value, it performs a quantitative goodwill impairment test by comparing the reporting unit’s fair value with its carrying value. An impairment loss is recognized for the amount by which the reporting unit’s carrying value exceeds its fair value, up to the total amount of goodwill allocated to the reporting unit. No impairment loss is recognized if the fair value of the reporting exceeds its carrying value. The Company has two operating, two reportable segments, and two reporting units consisting of Life Sciences Products and Life Sciences Services. The Company previously had three reporting units, which included the Life Sciences Products operating segment, which constitutes of a single reporting unit, and two reporting units within the Life Sciences Services operating segment, sample repository solutions and genomic services, which were combined into a single reporting unit within the Life Sciences Services segment following the 2021 impairment test. ​ The Company completed its annual goodwill impairment test as of April 1, 2022 for its two reporting units. The two reporting units include Life Sciences Products as the only reporting unit within the Life Sciences Products segment, and Life Sciences Services as the only reporting unit within the Life Sciences Services segment. The Company conducted a qualitative assessment for both the Life Science Products and Life Science Services reporting units and determined that it was more likely than not that the fair value of each reporting unit was greater than its carrying value. Based on the test results, the Company determined that no adjustment to goodwill was necessary. As a result of the analysis, the Company did not perform the quantitative assessment for the reporting units, and did not recognize any impairment losses. In the fourth quarter of 2022, the Company experienced a decline in our stock price resulting in its market capitalization being less than its carrying value. Therefore, as of September 30, 2022, the Company assessed several events and circumstances that could affect the significant inputs used to determine the fair value of its reporting units, including updates to operating margins and cash flows, and the overall change in the economic climate. The Company considered the decline in the market capitalization being less than the carrying value of its reporting units in its evaluation of goodwill impairment indicators and determined it appropriate to perform a quantitative assessment of both its reporting units as of September 30, 2022. The Company’s valuation was based on the DCF Method. The Company concluded that there was no impairment, as the estimated fair value of the reporting units exceeded their carrying value. The following table sets forth the changes in the carrying amount of goodwill by reporting unit since September 30, 2020 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | ​ | ​
​ | ​ | Life Sciences | ​ | Life Sciences | ​ | ​ | ​
​ | ​ | Products | ​ | Services | ​ | Total
Balance, at September 30, 2020 | ​ | $ | 103,278 | ​ | $ | 349,899 | ​ | $ | 453,177
Acquisitions and currency translation adjustments | ​ |  | 6,860 | ​ |  | 9,319 | ​ |  | 16,179
Balance, at September 30, 2021 | ​ |  | 110,138 | ​ |  | 359,218 | ​ |  | 469,356
Acquisitions and currency translation adjustments | ​ |  | 44,474 | ​ |  | (207) | ​ |  | 44,267
Balance, at September 30, 2022 | ​ | $ | 154,612 | ​ | $ | 359,011 | ​ | $ | 513,623
​ ​ ​ During fiscal year 2022, the Company recorded a goodwill increase of $44.3 million primarily related to the acquisitions of Barkey of $57.8 million in the fourth quarter of fiscal year 2022 net with the impact of foreign currency translation adjustments of $13.5 million. The components of the Company’s identifiable intangible assets as of September 30, 2022 and 2021 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2022 | ​ | September 30, 2021
​ | ​ | ​ | ​ | Accumulated | ​ | Net Book | ​ | ​ | ​ | Accumulated | ​ | Net Book
​ |  | Cost |  | Amortization |  | Value |  | Cost |  | Amortization |  | Value
Patents | ​ | $ | 1,225 | ​ | $ | 1,106 | ​ | $ | 119 | ​ | $ | 1,242 | ​ | $ | 1,002 | ​ | $ | 240
Completed technology | ​ |  | 99,525 | ​ |  | 37,991 | ​ |  | 61,534 | ​ |  | 75,527 | ​ |  | 32,383 | ​ |  | 43,144
Trademarks and trade names | ​ |  | 400 | ​ |  | 41 | ​ |  | 359 | ​ |  | 424 | ​ |  | 33 | ​ |  | 391
Non-competition agreements | ​ | ​ | 681 | ​ | ​ | 439 | ​ | ​ | 242 | ​ | ​ | 681 | ​ | ​ | 249 | ​ | ​ | 432
Customer relationships | ​ |  | 246,949 | ​ |  | 130,802 | ​ |  | 116,147 | ​ |  | 253,486 | ​ |  | 111,159 | ​ |  | 142,327
Other intangibles | ​ | ​ | 202 | ​ | ​ | 202 | ​ | ​ | — | ​ | ​ | 246 | ​ | ​ | 246 | ​ | ​ | —
​ | ​ | $ | 348,982 | ​ | $ | 170,581 | ​ | $ | 178,401 | ​ | $ | 331,606 | ​ | $ | 145,072 | ​ | $ | 186,534
​ ​ Amortization expense for intangible assets was $32.3 million, $37.4 million and $35.4 million, respectively, for the fiscal years ended September 30, 2022, 2021 and 2020. ​ Estimated future amortization expense for the intangible assets as of September 30, 2022 is as follows (in thousands): ​
​ | ​ | ​ | ​
2023 | ​ | $ | 30,837
2024 | ​ |  | 28,157
2025 | ​ |  | 24,071
2026 | ​ |  | 21,471
2027 | ​ |  | 16,955
Thereafter | ​ |  | 56,910
​ | ​ | $ | 178,401
​ ​ ​ ​

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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