Goodwill and Other Intangible Assets

12 Months Ended

Sep. 30, 2021

Goodwill and Other Intangible Assets

GOODWILL AND OTHER INTANGIBLE ASSETS

4.      Goodwill and Other Intangible Assets

Included on the Consolidated Balance Sheets at September 30, 2021 and 2020 are the following intangible assets gross carrying amounts and accumulated amortization:

(Dollars in thousands)	2021		2020
Goodwill	$	504,853	408,063
Intangible assets with determinable lives:
Patents
Gross carrying amount	$	2,131	2,092
Less: accumulated amortization		972	858
Net	$	1,159	1,234
Capitalized software
Gross carrying amount	$	93,671	84,888
Less: accumulated amortization		63,740	57,302
Net	$	29,931	27,586
Customer Relationships
Gross carrying amount	$	288,530	227,178
Less: accumulated amortization		80,882	67,643
Net	$	207,648	159,535
Other
Gross carrying amount	$	8,680	5,156
Less: accumulated amortization		4,298	3,260
Net	$	4,382	1,896
Intangible assets with indefinite lives:
Trade names	$	166,130	156,381

We performed our annual evaluation of goodwill and intangible assets for impairment during the fourth quarter of 2021 and concluded that no impairment existed at September 30, 2021. There were no accumulated impairment losses as of September 30, 2021.

The changes in the carrying amount of goodwill attributable to each business segment for 2021 and 2020 are as follows:

(Dollars in millions)	A&D		Test		USG	Total
Balance as of September 30, 2019	$	102.2		34.1	254.0	390.3
Out-of-period adjustment		—		—	18.0	18.0
Foreign currency translation and other		(0.1)		—	(0.1)	(0.2)
Balance as of September 30, 2020	$	102.1		34.1	271.9	408.1
Acquisition activity		2.2		—	95.2	97.4
Foreign currency translation and other		—		—	(0.6)	(0.6)
Balance as of September 30, 2021	$	104.3		34.1	366.5	504.9

Amortization expense related to intangible assets with determinable lives was $20.8 million, $21.8 million and $18.5 million in 2021, 2020 and 2019, respectively. Patents are amortized over the life of the patents, generally ten to twenty years. Capitalized software is amortized over the estimated useful life of the software, generally three to seven years. Customer relationships are generally amortized over thirteen to twenty years.

As of September 30, 2020, we reclassified $18.0 million from Morgan Schaffer’s tradename to goodwill to correct a misclassification that originated in the original accounting for the acquisition in fiscal 2017. Management has determined that the effect of this misclassification was not material to the current or any prior periods and it had no impact on our total assets, results of operations or cash flows for any period.