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Goodwill and Intangible Assets | 6 Months Ended
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Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Our acquisitions have resulted in the recording of goodwill and other identifiable intangible assets. Goodwill is an asset representing operational synergies and future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Intangible assets consist of internally developed software, domain names and other identifiable intangible assets such as trade names, developed technologies, including design libraries, and customer relationships related to the acquisitions the Company has completed. The changes in goodwill and intangible assets are as follows:
| Goodwill |  |  | Trade Names |  | Developed Technologies |  | Customer Relationships |  | Domain Names |  | Internally Developed Software |  | Total Intangible Assets, net
($ in thousands) | Unamortized |  |  | Unamortized |  | Amortized |  | Amortized |  | Amortized |  | Amortized |  |
Net balance as of September 30, 2023 | 336,602 |  |  |  | 149,921 |  |  | 4,419 |  |  | 52,114 |  |  | 2,387 |  |  | 3,483 |  |  | 212,324 |
Acquisitions during the six months ended March 31, 2024 | — |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 621 |  |  | 621 |
Accumulated amortization for the six months ended March 31, 2024 | — |  |  |  | — |  |  | (185) |  |  | (2,662) |  |  | (318) |  |  | (491) |  |  | (3,656) |
Net balance as of March 31, 2024 | $ | 336,602 |  |  |  | $ | 149,921 |  |  | $ | 4,234 |  |  | $ | 49,452 |  |  | $ | 2,069 |  |  | $ | 3,613 |  |  | $ | 209,289 |
Amortization expense was $2.1 million and $3.3 million for the three months ended March 31, 2024 and 2023, respectively, $3.7 million and $6.6 million for the six months ended March 31, 2024 and 2023, respectively, and is recorded in depreciation and amortization expense in the unaudited condensed consolidated statements of operations. For internally developed software acquisitions during the six months ended March 31, 2024, the weighted average useful life is 3.8 years. The following table summarizes the expected amortization expense for fiscal years 2024 through 2028 and thereafter ($ in thousands):
2024 (excluding the six months ended March 31, 2024) | $ | 4,164 |
2025 | 8,329 |
2026 | 8,329 |
2027 | 8,086 |
2028 | 6,638 |
Thereafter | 23,822 |
| $ | 59,368 |
As of March 31, 2024 and September 30, 2023, the carrying value of goodwill totaled approximately $336.6 million, of which $295.3 million was related to our Dealerships reporting segment and $41.3 million was related to our Distribution reporting segment.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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