Goodwill and Other Intangible Assets

12 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The following presents goodwill activity during the fiscal years ended September 30, 2022 and 2021 (in thousands):

Balance at September 30, 2020	$	46,348
Additions	39,074
Balance at September 30, 2021	85,422
Additions	45,300
Measurement period adjustments	$	(1,257)
Balance at September 30, 2022	$	129,465

The additions in goodwill as of September 30, 2022 compared to September 30, 2021 were attributable to $45.3 million for various Business Acquisitions (see Note 4 - Business Acquisitions) completed during the fiscal year ended September 30, 2022 and a reduction of $1.3 million for measurement period adjustments that were finalized for acquisitions completed during the fiscal year ended September 30, 2021.

A summary of other intangible assets at September 30, 2022 and 2021 is as follows (in thousands):

		September 30,
		2022						2021
	Weighted Average Life	Gross Value		Accumulated Amortization		Net Book Value		Gross Value		Accumulated Amortization		Net Book Value
Indefinite-lived:
Trade name license	Indefinite	$	5,300	N/A		$	5,300	$	2,000	N/A		$	2,000
Finite-lived:
Customer relationship	13 years	11,045		(1,304)		9,741		1,645		(640)		1,005
Non-compete agreements	7 years	1,220		(285)		935		1,295		(137)		1,158
Total intangible assets		$	17,565	$	(1,589)	$	15,976	$	4,940	$	(777)	$	4,163

The change in gross value as of September 30, 2022 compared to September 30, 2021 is attributable to $9.0 million for various Business Acquisitions (see Note 4 - Business Acquisitions) completed during the fiscal year ended September 30, 2022 and $3.7 million for provisional accounting adjustments that were finalized for acquisitions completed during the fiscal year ended September 30, 2021.

Total amortization expense related to finite-lived intangible assets was $0.8 million, $0.3 million and $0.2 million for the fiscal years ended September 30, 2022, 2021 and 2020, respectively.

Estimated future total amortization expense related to finite-lived intangible assets is as follows (in thousands):

Fiscal Year	Estimated Amortization Expense
2023	$	981
2024	978
2025	977
2026	925
2027	776
Thereafter	6,039
Total	$	10,676