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Goodwill and Other Intangibles, Net | 9 Months Ended
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Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles, Net | Note 3 —Goodwill and Other Intangibles, Net Goodwill The following table details the changes in goodwill (in thousands):
|  | June 29, 2024 |  |  | September 30, 2023 |  |  | July 1, 2023 |
Balance at beginning of the period |  | $ | 180,698 |  |  | $ | 173,513 |  |  | $ | 173,513 |
Acquisitions, net of measurement period adjustments |  |  | — |  |  |  | 7,185 |  |  |  | 7,185 |
Balance at the end of the period |  | $ | 180,698 |  |  | $ | 180,698 |  |  | $ | 180,698 |
Other Intangible Assets Other intangible assets consisted of the following as of June 29, 2024 (in thousands, except weighted average remaining useful life):
|  | Weighted Average Remaining Useful Life (in Years) |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Trade name and trademarks (finite life) |  |  | 9.2 |  |  | $ | 22,100 |  |  | $ | (4,861 | ) |  | $ | 17,239 |
Trade name and trademarks (indefinite life) |  | Indefinite |  |  |  | 9,350 |  |  |  | — |  |  |  | 9,350 |
Non-compete agreements |  |  | 4.6 |  |  |  | 2,260 |  |  |  | (1,317 | ) |  |  | 943 |
Consumer relationships |  |  | 6.8 |  |  |  | 15,400 |  |  |  | (7,685 | ) |  |  | 7,715 |
Other intangibles |  |  | 4.3 |  |  |  | 4,000 |  |  |  | (3,904 | ) |  |  | 96 |
Total |  |  |  |  | $ | 53,110 |  |  | $ | (17,767 | ) |  | $ | 35,343 |
Other intangible assets consisted of the following as of September 30, 2023 (in thousands, except weighted average remaining useful life):
|  | Weighted Average Remaining Useful Life (in Years) |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Trade name and trademarks (finite life) |  |  | 9.8 |  |  | $ | 26,740 |  |  | $ | (7,958 | ) |  | $ | 18,782 |
Trade name and trademarks (indefinite life) |  | Indefinite |  |  |  | 9,350 |  |  |  | — |  |  |  | 9,350 |
Non-compete agreements |  |  | 5.4 |  |  |  | 8,683 |  |  |  | (7,585 | ) |  |  | 1,098 |
Consumer relationships |  |  | 7.4 |  |  |  | 24,100 |  |  |  | (15,317 | ) |  |  | 8,783 |
Other intangibles |  |  | 5.1 |  |  |  | 6,620 |  |  |  | (6,476 | ) |  |  | 144 |
Total |  |  |  |  | $ | 75,493 |  |  | $ | (37,336 | ) |  | $ | 38,157 |
Other intangible assets consisted of the following as of July 1, 2023 (in thousands, except weighted average remaining useful life):
|  | Weighted Average Remaining Useful Life (in Years) |  |  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Trade name and trademarks (finite life) |  |  | 10.1 |  |  | $ | 26,740 |  |  | $ | (7,436 | ) |  | $ | 19,304 |
Trade name and trademarks (indefinite life) |  | Indefinite |  |  |  | 9,350 |  |  |  | — |  |  |  | 9,350 |
Non-compete agreements |  |  | 5.6 |  |  |  | 8,683 |  |  |  | (7,534 | ) |  |  | 1,149 |
Consumer relationships |  |  | 7.6 |  |  |  | 24,100 |  |  |  | (14,935 | ) |  |  | 9,165 |
Other intangibles |  |  | 5.3 |  |  |  | 6,620 |  |  |  | (6,451 | ) |  |  | 169 |
Total |  |  |  |  | $ | 75,493 |  |  | $ | (36,356 | ) |  | $ | 39,137 |
Amortization expense was $0.9 million and $1.1 million for the three months ended June 29, 2024 and July 1, 2023, respectively. Amortization expense was $2.8 million and $3.4 million for the nine months ended June 29, 2024 and July 1, 2023, respectively. No impairment of goodwill or other intangible assets was recorded during the three and nine months ended June 29, 2024 and July 1, 2023. The following table summarizes the estimated future amortization expense related to finite-lived intangible assets on our condensed consolidated balance sheet as of June 29, 2024 (in thousands):
|  | Amount |
Remainder of fiscal 2024 |  | $ | 914 |
2025 |  |  | 3,632 |
2026 |  |  | 3,385 |
2027 |  |  | 3,262 |
2028 |  |  | 3,154 |
Thereafter |  |  | 11,646 |
Total |  | $ | 25,993 |

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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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