XML 22 R17.htm IDEA: XBRL DOCUMENT v3.20.2
GOODWILL AND INTANGIBLE ASSETS
 12 Months Ended
Sep. 27, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The following table reflects goodwill by reportable operating segment:
(In millions)
Medical
 
Industrial
 
Total
Balance at September 28, 2018
$
147.0

 
$
96.6

 
$
243.6

Business combination
26.0

 
21.2

 
47.2

Balance at September 27, 2019
$
173.0

 
$
117.8

 
$
290.8


The following table reflects the gross carrying amount and accumulated amortization of the Company’s finite-lived intangible assets included in other assets in the consolidated balance sheets:
 
September 27, 2019
 
September 28, 2018
(In millions)
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Acquired existing technology
$
74.1

 
$
(28.4
)
 
$
45.7

 
$
57.9

 
$
(21.8
)
 
$
36.1

Patents, licenses and other
12.7

 
(8.4
)
 
4.3

 
9.9

 
(7.4
)
 
2.5

Customer contracts and supplier relationship
50.7

 
(17.2
)
 
33.5

 
42.6

 
(11.4
)
 
31.2

Total intangible assets with finite lives
137.5

 
(54.0
)
 
83.5

 
110.4

 
(40.6
)
 
69.8

In-process R&D with indefinite lives
2.8

 
0.0

 
2.8

 
4.0

 
0.0

 
4.0

Total intangible assets
$
140.3

 
$
(54.0
)
 
$
86.3

 
$
114.4

 
$
(40.6
)
 
$
73.8

 
 
 
 
 
 
 
 
 
 
 
 

Amortization expense for intangible assets was $15.7 million, $16.2 million and $10.5 million in fiscal years 2019, 2018 and 2017, respectively. The Company recognized an impairment loss of $4.8 million and $3.0 million in fiscal years 2019 and 2018, respectively. These impairment costs were included in the consolidated statements of earnings under impairment of intangible assets.
As of September 27, 2019, the estimated future amortization expense of intangible assets with finite lives is as follows:
(In millions)
 
Fiscal years:
 
2020
$
17.2

2021
16.3

2022
14.7

2023
13.7

2024
9.1

Thereafter
12.5

Total
$
83.5