Goodwill and Intangible Assets

3 Months Ended

Dec. 27, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

13. GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill are as follows:    

(in thousands)	Electrical Raceway		Mechanical Products & Solutions		Total
Balance as of October 1, 2019	$	149,668	$	36,563	$	186,231
Exchange rate effects	1,874		—		1,874
Balance as of December 27, 2019	$	151,542	$	36,563	$	188,105

Goodwill balances as of October 1, 2019 and December 27, 2019 include $3,924 and $43,000 of accumulated impairment losses within the Electrical Raceway and MP&S segments, respectively.

The Company assesses the recoverability of goodwill and indefinite-lived trade names on an annual basis in accordance with ASC 350, "Intangibles - Goodwill and Other." The measurement date is the first day of the fourth fiscal quarter, or more frequently, if events or circumstances indicate that it is more likely than not that the fair value of a reporting unit or the respective indefinite-lived trade name is less than the carrying value.

The following table provides the gross carrying value, accumulated amortization and net carrying value for each major class of intangible assets:

		December 27, 2019							September 30, 2019
($ in thousands)	Weighted Average Useful Life (Years)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Amortizable intangible assets:
Customer relationships	11	$	355,992	$	(179,950	)	$	176,042	$	353,256	$	(171,777	)	$	181,479
Other	7	19,086		(8,260		)	10,826		19,086		(7,761		)	11,325
Total		375,078		(188,210		)	186,868		372,342		(179,538		)	192,804
Indefinite-lived intangible assets:
Trade names		92,880		—			92,880		92,880		—			92,880
Total		$	467,958	$	(188,210	)	$	279,748	$	465,222	$	(179,538	)	$	285,684

Other intangible assets consist of definite-lived trade names, technology, non-compete agreements and backlogs. Amortization expense for the three months ended December 27, 2019 and December 28, 2018 was $8,113 and $8,214, respectively. Expected amortization expense for intangible assets for the remainder of fiscal 2020 and over the next five years and thereafter is as follows:

(in thousands)
Remaining 2020	$	25,854
2021	32,314
2022	30,980
2023	30,860
2024	26,403
2025	13,844
Thereafter	26,613

Actual amounts of amortization may differ from estimated amounts due to additional intangible asset acquisitions, impairment of intangible assets and other events.