Intangible Assets

12 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

INTANGIBLE ASSETS

Goodwill

The following summarizes the changes in the carrying amount of goodwill during fiscal 2024 and 2023:

(In millions)
Balance at September 30, 2022	$	548.2
Acquisitions	29.0
Currency translation	0.8
Balance at September 30, 2023	578.0
Acquisitions	44.3
Currency translation	(0.1)
Dispositions	(6.9)
Balance at September 30, 2024	$	615.3

Other intangible assets

Valvoline’s purchased intangible assets were specifically identified when acquired, have finite lives, and are reported in Goodwill and intangibles, net within the Consolidated Balance Sheets. The following summarizes the gross carrying amounts and accumulated amortization of the Company’s intangible assets as of September 30:

(In millions)	2024						2023
	Gross carrying amount		Accumulated amortization		Net carrying amount		Gross carrying amount		Accumulated amortization		Net carrying amount
Definite-lived intangible assets
Trademarks and trade names	$	29.2	$	(11.4)	$	17.8	$	29.6	$	(10.5)	$	19.1
Reacquired franchise rights	122.2		(58.7)		63.5		122.1		(49.4)		72.7
Customer relationships	15.1		(7.9)		7.2		16.8		(8.3)		8.5
Other intangible assets	7.0		(5.2)		1.8		6.9		(4.6)		2.3
Total definite-lived intangible assets	$	173.5	$	(83.2)	$	90.3	$	175.4	$	(72.8)	$	102.6

The table that follows summarizes amortization expense (actual and estimated) for the Company's current intangible assets for the years ended September 30:

(In millions)	Actual		Estimated
	2024		2025		2026		2027		2028		2029
Amortization expense	$	16.7	$	15.3	$	12.3	$	11.7	$	11.6	$	11.3