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Goodwill and Other Intangible Assets
 12 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill and other intangible assets, net consisted of the following:
(in millions)
as of September 30,20212020
Goodwill$4,457.7 $4,500.8 
Indefinite-lived intangible assets3,527.8 3,500.8 
Definite-lived intangible assets, net1,182.4 1,413.4 
Goodwill and Other Intangible Assets, Net$9,167.9 $9,415.0 
Changes in the carrying value of goodwill were as follows:
(in millions)
for the fiscal years ended September 30,20212020
Balance at beginning of year$4,500.8 $2,130.3 
Acquisitions— 2,389.1 
Impairment— (23.7)
Purchase price allocation adjustment1
(52.4)— 
Foreign exchange revaluation9.3 5.1 
Balance at End of Year$4,457.7 $4,500.8 
 ______________
1Refer to Note 3 - Acquisitions
During fiscal years 2021 and 2019, no impairment of goodwill was recognized. During the fiscal year 2020, a $23.7 million impairment of goodwill was recognized due to the decision to wind-down operations of Onsa Inc (formerly known as TokenVault, Inc.).
No impairment of indefinite-lived intangible assets was recognized during fiscal year 2021. The Company recognized impairments of indefinite-lived intangible assets of $30.0 million and $9.3 million during fiscal years 2020 and 2019. The impairment in fiscal year 2020 was primarily attributable to a Benefit Street Partners L.L.C. related management contract due to declines in revenue growth rates. The impairment in fiscal year 2019 was related to Canadian management contracts due to revised estimates of future pre-tax profit margins and AUM growth rates for the associated fund products.
Definite-lived intangible assets were as follows:
20212020
(in millions)Gross
Carrying
Value		Accumulated
Amortization		Net
Carrying
Value		Gross
Carrying
Value		Accumulated
Amortization		Net
Carrying
Value
as of September 30,
Management contracts$1,232.0 $(262.6)$969.4 $1,231.2 $(57.6)$1,173.6 
Trade names230.7 (28.0)202.7 230.6 (4.0)226.6 
Developed software14.4 (4.1)10.3 14.4 (1.2)13.2 
Total$1,477.1 $(294.7)$1,182.4 $1,476.2 $(62.8)$1,413.4 
No impairment of definite-lived intangible assets was recognized during fiscal year 2021. The Company recognized impairment of definite-lived intangible assets of $1.7 million and $4.0 million during fiscal years 2020 and 2019, primarily due to investor redemptions.
Definite-lived intangible assets had a weighted-average remaining useful life of 6.7 years at September 30, 2021, with estimated remaining amortization expense as follows:
(in millions)
for the fiscal years ending September 30,Amount
2022$231.5 
2023231.5 
2024224.7 
2025212.5 
2026146.0 
Thereafter136.2 
Total$1,182.4