Goodwill and Other Identifiable Intangible Assets

6 Months Ended

Mar. 31, 2022

Goodwill and Other Identifiable Intangible Assets [Abstract]

Goodwill and Other Identifiable Intangible Assets

6. Goodwill and Other Identifiable Intangible Assets

Our acquisitions have resulted in the recording of goodwill and other identifiable intangible assets. Goodwill is an asset representing operational synergies and future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Identifiable intangible assets consist of trade names, design libraries and customer relationships related to the acquisitions the Company has completed. The changes in goodwill and identifiable intangible assets are as follows:

($ in thousands)	Goodwill		Trade Names		Design Libraries			Customer Relationships			Total Identifiable Intangible Assets, net
	Unamortized		Unamortized		Amortized			Amortized
Net balance as of September 30, 2021	$	168,491	$	85,294	$	-		$	-		$	85,294
Acquisitions during the six months ended March 31, 2022		144,969		66,571		14,050			67,855			148,476
Accumulated amortization for the six months ended March 31, 2022		-		-		(454	)		(2,192	)		(2,646	)
Net balance as of March 31, 2022	$	313,460	$	151,865	$	13,596		$	65,663		$	231,124

Amortization expense was $2.6 million for the three and six months ended March 31, 2022 and is recorded in depreciation and amortization expense in the unaudited condensed consolidated statements of operations.

The following table summarizes the expected amortization expense for fiscal years 2022 through 2026 and thereafter (Dollars in thousands):

2022 (excluding the six months ended March 31, 2022)	$	4,095
2023		8,190
2024		8,190
2025		8,190
2026		8,190
Thereafter		42,404
	$	79,259