Intangible Assets and Goodwill

Intangible assets consisted of the following:



Description	As of December 30, 2017				As of September 30, 2017
Description	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Acquired intangible assets:
Developed technology	$	4,528.8	$	2,266.7	$	4,528.7	$	2,186.8
In-process research and development	46.0		—		46.0		—
Customer relationships	556.7		402.8		552.8		393.8
Trade names	310.3		161.1		310.3		156.4
Distribution agreement	42.0		4.1		42.0		2.8
Non-competition agreements	1.5		0.1		1.5		0.1
Business licenses	2.5		2.2		2.4		2.2
Total acquired intangible assets	$	5,487.8	$	2,837.0	$	5,483.7	$	2,742.1

Internal-use software	65.8		48.2		64.5		46.1
Capitalized software embedded in products	15.5		2.6		14.3		2.0
Total intangible assets	$	5,569.1	$	2,887.8	$	5,562.5	$	2,790.2

The estimated remaining amortization expense of the Company's acquired intangible assets as of December 30, 2017 for each of the five succeeding fiscal years is as follows:



Remainder of Fiscal 2018	$	283.1
Fiscal 2019	$	366.0
Fiscal 2020	$	354.8
Fiscal 2021	$	333.2
Fiscal 2022	$	320.3

The Company conducted its fiscal 2017 impairment test on the first day of the fourth quarter, and used a discounted cash flow method (DCF) to estimate the fair value of its reporting units as of July 2, 2017. The Company believes it used reasonable estimates and assumptions about future revenue, cost projections, cash flows, market multiples and discount rates as of the measurement date. As a result of completing Step 1, all of the Company's reporting units had fair values exceeding their carrying values, and as such, Step 2 of the impairment test was not required. However, one of its reporting units, Medical Aesthetics, had a fair value as of the measurement date that exceeded its carrying value by 2% with goodwill of $683.5 million. The Medical Aesthetics reporting unit is solely comprised of the Cynosure, Inc. business, which the Company acquired on March 22, 2017. In connection with the Company's annual strategic planning process and annual goodwill impairment test, it lowered its estimated financial projections for this business as a result of its then current operating performance being below expectations, which the Company primarily attributed to the significant turnover in the U.S. sales force in 2017 following the date of acquisition. The Company is continuing its efforts to rebuild the U.S. sales force and this continues to affect short term performance. The Company’s long-term outlook for the Medical Aesthetics business has not materially changed. The Company is continuing to monitor the operating performance of this reporting unit compared to the projections used in the annual impairment test, as well as current market and business conditions, to determine if an event has occurred or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. The Company has evaluated these factors and determined that no significant events occurred or circumstances changed during the period ended December 30, 2017 that would suggest it is more likely than not that the fair value of the reporting unit has declined below its carrying value. In the event the Company is unsuccessful in its efforts to rebuild the U.S. sales force or its efforts take significantly longer than expected, or other adverse conditions are identified, future operating performance may be below forecasted projections. If this occurs, the Company may need to revise its long-term growth rates or increase discount rates, and these factors could result in a decline in the fair value of the reporting unit and the Company may be required to record a goodwill impairment charge.