GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Apr. 03, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill consists of the following:


(in millions)	HPC		GPC		H&G		Total
As of September 30, 2021	$	—	$	524.6	$	342.6	$	867.2
Tristar Business acquisition (Note 3)	103.7		—		—		103.7
Foreign currency impact	—		(3.9)		—		(3.9)
As of April 3, 2022	$	103.7	$	520.7	$	342.6	$	967.0

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


	April 3, 2022						September 30, 2021
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Amortizable Intangible Assets:
Customer relationships	$	644.6	$	(367.1)	$	277.5	$	619.6	$	(352.3)	$	267.3
Technology assets	75.3		(28.3)		47.0		75.3		(25.8)		49.5
Tradenames	158.4		(149.0)		9.4		158.4		(141.9)		16.5
Total Amortizable Intangible Assets	878.3		(544.4)		333.9		853.3		(520.0)		333.3
Indefinite-lived Intangible Assets – Tradenames	929.8		—		929.8		870.8		—		870.8
Total Intangible Assets	$	1,808.1	$	(544.4)	$	1,263.7	$	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 and six month periods ended April 3, 2022.

Amortization expense from the intangible assets for the three month periods ended April 3, 2022 and April 4, 2021 was $13.5 million and $16.8 million, respectively; and for the six month periods ended April 3, 2022 and April 4, 2021 was $26.7 million and $30.9 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	$	50.2
2023	42.2
2024	42.2
2025	40.1
2026	38.5