Goodwill And Intangible Assets

12 Months Ended

Oct. 02, 2021

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 September 29, 2018	$	179,907	$	261,732	$	355,578	$	797,217
Divestiture	—		—		(1,237)		(1,237)
Foreign currency translation	(2,968)		(48)		(8,724)		(11,740)
Balance at September 28, 2019	176,939		261,684		345,617		784,240
Acquisition	—		—		25,237		25,237
Divestiture	—		—		(635)		(635)
Foreign currency translation	2,582		42		10,390		13,014
Balance at October 3, 2020	179,521		261,726		380,609		821,856
Acquisition	29,123		—		—		29,123
Divestitures	(312)		—		(3,092)		(3,404)
Foreign currency translation	2,447		41		1,542		4,030
Balance at October 2, 2021	$	210,779	$	261,767	$	379,059	$	851,605

Goodwill in our Space and Defense Controls segment is net of a $4,800 accumulated impairment loss at October 2, 2021. Goodwill in our Medical Devices reporting unit, included in our Industrial Systems segment, is net of a $38,200 accumulated impairment loss at October 2, 2021.

The components of intangible assets are as follows:

		October 2, 2021				October 3, 2020
	Weighted- Average Life (years)	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer-related	11	$	163,215	$	(108,844)	$	140,048	$	(103,733)
Technology-related	9	82,716		(58,119)		77,060		(54,833)
Program-related	23	40,211		(19,707)		38,963		(17,340)
Marketing-related	8	28,590		(22,212)		25,581		(20,981)
Other	10	1,963		(1,718)		4,134		(3,853)
Intangible assets	12	$	316,695	$	(210,600)	$	285,786	$	(200,740)

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.

In 2021, we recorded $1,144 in impairment charges on long-lived assets in our Space and Defense Controls segment. These charges relate to intangibles assets that experienced a decline in value. These charges are included in long-lived asset impairment in the Consolidated Statements of Earnings. In 2020, we recorded a $8,723 write down of intangible assets based on expected cash flows over the remaining life of the assets in relation to the impairment charges associated with the COVID-19 pandemic.

Amortization of acquired intangible assets is as follows:

	2021		2020		2019
Acquired intangible asset amortization	$	13,454	$	12,524	$	13,079

Based on acquired intangible assets recorded at October 2, 2021, amortization is estimated to be approximately:

	2022		2023		2024		2025		2026
Estimated future amortization of acquired intangible assets	$	13,500	$	12,900	$	12,100	$	10,900	$	10,700