GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill activity for each of the Company’s reportable segments for the nine months ended June 30, 2020:


	Electronic Materials		Performance Materials		Total
Balance at September 30, 2019	$	352,797	$	357,274	$	710,071

Foreign currency translation impact	3,448		(844)		2,604
Other	—		1,205		1,205
Balance at June 30, 2020	$	356,245	$	357,635	$	713,880

The components of other intangible assets are:


	June 30, 2020						September 30, 2019
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Other intangible assets subject to amortization:
Product technology, trade secrets and know-how	$	121,979	$	45,722	$	123,948	$	37,993
Acquired patents and licenses	9,023		8,636		9,023		8,397
Customer relationships, trade names, and distribution rights	687,976		121,373		684,764		64,471

Total other intangible assets subject to amortization	818,978		175,731		817,735		110,861

Other intangible assets not subject to amortization:
Other indefinite-lived intangibles*	47,170				47,170
Total other intangible assets not subject to amortization	47,170				47,170

Total other intangible assets	$	866,148	$	175,731	$	864,905	$	110,861

*Other indefinite-lived intangible assets not subject to amortization consist primarily of trade names.

Amortization expense was $20,788 and $64,166 for the three and nine months ended June 30, 2020, respectively, and was $16,926 and $43,244 for the three and nine months ended June 30, 2019, respectively. Estimated future amortization expense for the five succeeding fiscal years is as follows:


Fiscal Year	Estimated Amortization Expense
Remainder of 2020	$	21,293
2021	89,952
2022	80,479
2023	68,039
2024	60,144

We continue to actively monitor the industries in which we operate and our businesses' performance for indicators of potential impairment. If current global macroeconomic conditions related to the COVID-19 pandemic ("Pandemic") persist and adversely impact our Company, we may have future impairments of goodwill or other intangible assets. Potential future impairments could be material to the Company’s Consolidated Balance Sheets and to the Consolidated Statements of Income, but we do not expect them to affect the Company’s reported Net cash provided by operating activities.

During the fiscal year ended September 30, 2019, the Company recognized asset impairment charges of $67,372 for the wood treatment asset group due to the previously announced planned closure of the Company's wood treatment business' facilities by approximately the end of calendar year 2021. The Company continues to monitor the wood treatment asset group, which is also a reporting unit, for further indicators of long-lived asset and goodwill impairment and determined that as of June 30, 2020, the wood treatment business had a triggering event, which required interim impairment tests to be performed. For the quarter ended June 30, 2020, the estimated future cash flows of the asset group and fair value of the reporting unit exceeded the carrying value by approximately 8% and 1%, respectively, and there was no impairment recognized for the wood treatment asset group or reporting unit. The fair value of the wood treatment reporting unit was determined using an income approach based upon an estimate of discounted future cash flows of the business through the expected closure date. As the Company approaches the closure date of the facilities and there are lower estimated future cash flows, it is probable that the carrying value of the wood treatment asset group and reporting unit will not be recoverable, resulting in future impairments. The carrying value of the wood treatment business includes $35 million and $8 million of goodwill and intangible assets, respectively. Absent a sale of the wood treatment business, the amount of impairments that we expect to recognize as we approach the closure date could be material.