Goodwill And Intangible Assets

9 Months Ended

Jul. 02, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

There were no changes to the carrying amount of goodwill during the three and nine months ended July 2, 2021.

The Company tests its goodwill for impairment annually as of the first day of its fourth fiscal quarter and in interim periods if certain events occur indicating the carrying value of goodwill may be impaired. There were no indicators of impairment noted during the three and nine months ended July 2, 2021.

Intangible assets consist of the following (in millions):


		As of						As of
	Weighted Average Amortization Period (Years)	July 2, 2021						October 2, 2020
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	5.0	$	18.2	$	(18.2)	$	—	$	18.2	$	(15.8)	$	2.4
Developed technology and other	4.6	76.6		(55.1)		21.5		101.0		(81.6)		19.4
Trademarks	3.0	—		—		—		1.6		(1.5)		0.1
Technology licenses	2.7	31.5		(22.1)		9.4		26.3		(14.2)		12.1
IPR&D		3.8		—		3.8		19.5		—		19.5
Total intangible assets		$	130.1	$	(95.4)	$	34.7	$	166.6	$	(113.1)	$	53.5

Fully amortized intangible assets are eliminated from both the gross and accumulated amortization amounts in the first quarter of each fiscal year.

Annual amortization expense for the next five fiscal years related to definite-lived intangible assets, excluding IPR&D, is expected to be as follows (in millions):


	Remaining 2021		2022		2023		2024		2025		Thereafter
Amortization expense, cost of goods sold	$	1.3	$	5.4	$	5.4	$	1.9	$	0.1	$	1.7
Amortization expense, operating expense	$	3.5	$	6.2	$	1.8	$	1.4	$	1.1	$	1.1
Total amortization expense	$	4.8	$	11.6	$	7.2	$	3.3	$	1.2	$	2.8