Capital Assets

9 Months Ended

Jun. 29, 2019

Capital Assets [Abstract]

Capital Assets

CAPITAL ASSETS 

Property and Equipment

Property and equipment, net are as follows: 

	June 29, 2019			September 29, 2018
Land and improvements	$	3,924		$	2,881
Buildings and improvements	59,949			58,880
Machinery and equipment	217,728			203,647
Assets held under capital leases	2,796			2,815
Total property and equipment	284,397			268,223
Less: Accumulated depreciation	(191,504		)	(177,954		)
Total property and equipment, net	$	92,893		$	90,269

Goodwill

Changes to the carrying amount of goodwill are as follows:  

	Test & Simulation			Sensors			Total
Balance, September 29, 2018	$	24,631		$	344,644		$	369,275
Acquisitions 1	34,423			—			34,423
Currency translation	(230		)	(20		)	(250		)
Balance, June 29, 2019	$	58,824		$	344,624		$	403,448

¹    See Note 16 for additional information regarding acquisitions.

Intangible Assets

Intangible assets are as follows: 

	June 29, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life (in Years)
Software development costs 2	$	37,265	$	(15,969	)	$	21,296	6.4
Technology and patents	59,362		(14,934		)	44,428		14.9
Trademarks and trade names	12,658		(3,641		)	9,017		20.6
Customer lists	180,147		(31,692		)	148,455		15.7
Land-use rights	2,334		(914		)	1,420		26.0
Other	3,754		(571		)	3,183		4.0
Trade names	57,500		—			57,500		Indefinite
Total intangible assets	$	353,020	$	(67,721	)	$	285,299	14.5

 

	September 29, 2018
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life (in Years)
Software development costs 2	$	31,251	$	(15,860	)	$	15,391	6.5
Technology and patents	46,405		(12,188		)	34,217		14.9
Trademarks and trade names	6,754		(2,987		)	3,767		25.4
Customer lists	156,971		(23,314		)	133,657		15.8
Land-use rights	2,336		(730		)	1,606		26.0
Trade names	57,500		—			57,500		Indefinite
Total intangible assets	$	301,217	$	(55,079	)	$	246,138	14.8

 

²  The gross carrying amount of software development costs as of June 29, 2019 and September 29, 2018 includes $19,560 and $15,391, respectively, of intangible assets not yet placed in service.

Amortization expense recognized related to finite-lived intangible assets is as follows:

	Three Months Ended				Nine Months Ended
	June 29, 2019		June 30, 2018		June 29, 2019		June 30, 2018
Amortization expense	$	4,449	$	3,453	$	12,668	$	10,388

Estimated future amortization expense related to finite-lived intangible assets is as follows: 

	Amortization Expense
Remainder of 2019	$	4,356
2020	17,420
2021	18,527
2022	19,450
2023	18,543
2024	18,172
Thereafter	131,331

 

Future amortization amounts presented above are estimates. Actual future amortization expense may be different due to fluctuations in foreign currency exchange rates, future acquisitions, impairments, changes in amortization periods or other factors.