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Goodwill and Intangible Assets (Tables)
3 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Changes in 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

 

Summary of Intangible Assets 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

 

 

 

 

__________________________________

1.
As of December 31, 2021.
Summary of Estimated Future Amortization

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