XML 25 R14.htm IDEA: XBRL DOCUMENT v3.20.2
Goodwill And Intangible Assets
 9 Months Ended
Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Intangible Assets Goodwill and Intangible Assets
The changes in the carrying amount of goodwill are as follows:
 
Aircraft
Controls
Space and
Defense
Controls
Industrial
Systems
Total
Balance at September 28, 2019
$
176,939

$
261,684

$
345,617

$
784,240

Acquisitions
—

—

25,237

25,237

Divestitures
—

—

(635
)
(635
)
Foreign currency translation
185

3

2,821

3,009

Balance at June 27, 2020
$
177,124

$
261,687

$
373,040

$
811,851


Goodwill in our Space and Defense Controls segment is net of a $4,800 accumulated impairment loss at June 27, 2020.
Goodwill in our Medical Devices reporting unit, included in our Industrial Systems segment, is net of a $38,200 accumulated impairment loss at June 27, 2020.
The gross carrying amounts, accumulated amortization and amortization expense in the disclosure below reflect the full write off of intangible assets as of June 27, 2020 with a net book value of $2,487 based on expected cash flows over the remaining life of the assets in relation to the impairment taken by the Company associated with the COVID-19 pandemic.
The components of intangible assets are as follows:
 
 
 
 
June 27, 2020
 
September 28, 2019
  
 
Weighted-
Average
Life (years)
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Customer-related
 
11
 
$
142,372

 
$
(101,476
)
 
$
132,697

 
$
(100,091
)
Technology-related
 
9
 
77,628

 
(53,433
)
 
69,220

 
(52,192
)
Program-related
 
23
 
37,743

 
(16,354
)
 
62,015

 
(35,680
)
Marketing-related
 
8
 
25,218

 
(20,591
)
 
23,139

 
(19,899
)
Other
 
10
 
4,134

 
(3,873
)
 
4,061

 
(3,624
)
Intangible assets
 
12
 
$
287,095

 
$
(195,727
)
 
$
291,132

 
$
(211,486
)

Substantially all acquired intangible assets other than goodwill are being amortized. Customer-related intangible assets primarily consist of customer relationships. Technology-related intangible assets primarily consist of technology, patents, intellectual property and software. Program-related intangible assets consist of long-term programs represented by current contracts and probable follow on work. Marketing-related intangible assets primarily consist of trademarks, trade names and non-compete agreements.
Amortization of acquired intangible assets is as follows:
 
Three Months Ended
 
Nine Months Ended
 
June 27, 2020
 
June 29, 2019
 
June 27, 2020
 
June 29, 2019
Acquired intangible asset amortization
$
3,109

 
$
3,088

 
$
9,662

 
$
10,173


Based on acquired intangible assets recorded at June 27, 2020, amortization is estimated to be approximately:
 
2020
2021
2022
2023
2024
Estimated future amortization of acquired intangible assets
$
11,200

$
11,400

$
10,800

$
9,900

$
9,500