Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

8. Goodwill and Intangible Assets

Goodwill

The following table sets forth the change in the carrying amount of goodwill during the three months ended December 31, 2021 (in millions):

Balance as of September 30, 2021	$	1,760.9
Acquisition of Midway		30.0
Divestiture of Solar Products		(13.6	)
Translation and other adjustments		0.1
Balance as of December 31, 2021	$	1,777.4

The changes in the carrying amount of goodwill for the three months ended December 31, 2021 were driven primarily by the acquisition of Midway and the divestiture of Solar Products. See Notes 3 and 4 for additional information.

Intangible Assets

The intangible asset lives range from 5 to 20 years. The following table summarizes intangible assets by category (in millions, except time periods):

	December 31, 2021			September 30, 2021			December 31, 2020			Weighted-Average Remaining Life1 (Years)
Amortizable intangible assets:
Non-compete agreements	$	0.2		$	0.2		$	0.2			0.4
Customer relationships		1,092.3			1,076.2			1,085.9			15.8
Trademarks		1.0			—			3.7			1.8
Total amortizable intangible assets		1,093.5			1,076.4			1,089.8			15.8
Accumulated amortization		(682.3	)		(671.4	)		(607.0	)
Total amortizable intangible assets, net		411.2			405.0			482.8
Indefinite-lived trademarks		9.8			9.8			9.8
Total intangibles, net	$	421.0		$	414.8		$	492.6

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1.As of December 31, 2021.

The following table summarizes the estimated future amortization expense for intangible assets (in millions):

Year Ending December 31,
2022	$	81.6
2023		66.9
2024		53.9
2025		43.7
2026		35.2
Thereafter		129.9
Total future amortization expense	$	411.2