GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Jan. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill consists of the following:

(in millions)	GPC		H&G		Total
As of September 30, 2021	$	524.6	$	342.6	$	867.2
Foreign currency impact	(0.4)		—		(0.4)
As of January 2, 2022	$	524.2	$	342.6	$	866.8

The carrying value of indefinite-lived intangibles and definite-lived intangibles assets subject to amortization and accumulated amortization are as follows:

	January 2, 2022						September 30, 2021
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Amortizable Intangible Assets:
Customer relationships	$	618.0	$	(359.7)	$	258.3	$	619.6	$	(352.3)	$	267.3
Technology assets	75.3		(27.0)		48.3		75.3		(25.8)		49.5
Tradenames	158.5		(145.5)		13.0		158.4		(141.9)		16.5
Total Amortizable Intangible Assets	851.8		(532.2)		319.6		853.3		(520.0)		333.3
Indefinite-lived Intangible Assets - Tradenames	869.6		—		869.6		870.8		—		870.8
Total Intangible Assets	$	1,721.4	$	(532.2)	$	1,189.2	$	1,724.1	$	(520.0)	$	1,204.1

There were no triggering events and no impairments of goodwill and intangible assets identified during the three month period ended January 2, 2022.

Amortization expense from the intangible assets for the three month periods ended January 2, 2022 and January 3, 2021 was $13.3 million and $14.1 million, respectively. Excluding the impact of any future acquisitions, dispositions or changes in foreign currency, the Company estimates annual amortization expense of intangible assets for the next five fiscal years will be as follows:

(in millions)	Amortization
2022	$	49.2
2023	40.1
2024	40.1
2025	38.0
2026	36.4