XML 26 R12.htm IDEA: XBRL DOCUMENT
v3.20.2

Goodwill and Intangible Assets | 12 Months Ended
--- | ---
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | 6. GOODWILL AND INTANGIBLE ASSETS Goodwill The Company has goodwill balances of $35.7 million and $32.6 million at September 30, 2020 and 2019, respectively, representing the excess of costs over fair value of net assets of businesses acquired. Goodwill acquired in a business combination and determined to have an indefinite useful life is not amortized, but instead is tested for impairment at least annually in accordance with ASC Topic 350. The following table summarizes changes in the balance of goodwill during the year ended September 30, 2020 (amounts shown in thousands):
Balance at September 30, 2019 | $ | 32,636 |
Other adjustments(1) | 806 |
Foreign currency effect on goodwill | 2,227 |
Balance at September 30, 2020 | $ | 35,669 |
(1) During the three months ended December 31, 2019, the Company determined that it had incorrectly classified $0.8 million of contract assets in its fair value estimate associated with the A2iA Acquisition. This asset was incorrectly recorded as other non-current assets with an offset to goodwill on the Company’s consolidated balance sheet during the three months ended June 30, 2018 and subsequent financial statements. The Company has determined that the adjustment was not material to any previously reported financial statements. Therefore, the consolidated balance sheet as of September 30, 2020 has been adjusted Intangible Assets Intangible assets include the value assigned to purchased completed technology, customer relationships, and trade names. The estimated useful lives for all of these intangible assets, range from two to seven years. Intangible assets as of September 30, 2020 and 2019 are summarized as follows (amounts shown in thousands, except for years):
September 30, 2020: |  | Weighted Average Amortization Period |  | Cost |  | Accumulated Amortization |  | Net
Completed technologies |  | 6.4 years |  | $ | 20,341 |  |  | $ | 9,416 |  |  | $ | 10,925 |
Customer relationships |  | 4.8 years |  | 17,628 |  |  | 9,390 |  |  | 8,238 |
Trade names |  | 4.5 years |  | 618 |  |  | 492 |  |  | 126 |
Total intangible assets |  |  |  | $ | 38,587 |  |  | $ | 19,298 |  |  | $ | 19,289 |
September 30, 2019: |  | Weighted Average Amortization Period |  | Cost |  | Accumulated Amortization |  | Net
Completed technologies |  | 6.4 years |  | $ | 20,341 |  |  | $ | 7,104 |  |  | $ | 13,237 |
Customer relationships |  | 4.8 years |  | 17,628 |  |  | 6,701 |  |  | 10,927 |
Trade names |  | 4.5 years |  | 618 |  |  | 377 |  |  | 241 |
Total intangible assets |  |  |  | $ | 38,587 |  |  | $ | 14,182 |  |  | $ | 24,405 |
Amortization expense related to acquired intangible assets was $6.4 million, $7.0 million, and $4.0 million for fiscal years ended September 30, 2020, 2019, and 2018, respectively and is recorded in acquisition-related costs and expenses in the consolidated statements of operations. The estimated future amortization expense related to intangible assets for each of the five succeeding fiscal years is expected to be as follows (amounts shown in thousands):
| Estimated Future Amortization Expense
2021 | $ | 6,368 |
2022 | 5,956 |
2023 | 3,909 |
2024 | 1,857 |
2025 | 1,199 |
Thereafter | — |
Total | $ | 19,289 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration