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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Sep. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The following table reflects goodwill by reportable segment:
(In millions) | Medical |  | Industrial |  | Total
Balance at September 29, 2023 | $ | 171.5 |  |  | $ | 117.0 |  |  | $ | 288.5 |
Foreign currency translation adjustments | 1.5 |  |  | 1.0 |  |  | 2.5 |
Balance at September 27, 2024 | $ | 173.0 |  |  | $ | 118.0 |  |  | $ | 291.0 |
The following table reflects the gross carrying amount and accumulated amortization of the Company’s finite-lived intangible assets included in intangible assets, net in the Consolidated Balance Sheets:
| September 27, 2024 |  | September 29, 2023
(In millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Acquired existing technology | $ | 73.8 |  |  | $ | (63.5) |  |  | $ | 10.3 |  |  | $ | 72.3 |  |  | $ | (57.8) |  |  | $ | 14.5 |
Patents, licenses and other | 12.6 |  |  | (12.6) |  |  | — |  |  | 12.5 |  |  | (12.2) |  |  | 0.3 |
Customer contracts and supplier relationship | 52.8 |  |  | (47.0) |  |  | 5.8 |  |  | 50.3 |  |  | (42.7) |  |  | 7.6 |
Total intangible assets | $ | 139.2 |  |  | $ | (123.1) |  |  | $ | 16.1 |  |  | $ | 135.1 |  |  | $ | (112.7) |  |  | $ | 22.4 |
Amortization expense for intangible assets was $9.9 million, $13.7 million and $14.6 million in fiscal years 2024, 2023 and 2022, respectively. As of September 27, 2024, the estimated future amortization expense of intangible assets with finite lives is as follows:
(In millions) |
Fiscal Years: |
2025 | $ | 3.8 |
2026 | 3.7 |
2027 | 3.4 |
2028 | 3.3 |
2029 | 1.6 |
Thereafter | 0.3 |
Total | $ | 16.1 |

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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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