Goodwill and Intangible Assets

3 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill represents the excess of net book value over the estimated fair value of net tangible and identifiable intangible assets of a reporting unit. Goodwill is tested for impairment annually or more often if impairment indicators are present at the reporting unit level. If events occur or circumstances change that would more likely than not reduce fair values of the reporting units below their carrying values, goodwill will be evaluated for impairment between annual tests. No triggering events indicating goodwill impairment occurred during the three months ended December 31, 2021. Please refer to Note 8, "Goodwill and Intangible Assets" to the Company's consolidated financial statements included in

the 2021 Annual Report on Form 10-K for further information on the goodwill impairment testing performed during fiscal year 2021.

The changes in the Company’s goodwill by reportable segment since September 30, 2021 are as follows (in thousands):

	Life Sciences		Life Sciences
	Products		Services		Total
Balance, at September 30, 2021		110,138		359,218		469,356
Currency translation adjustments		(737)		(34)		(771)
Balance, at December 31, 2021	$	109,401	$	359,184	$	468,585

During the three months ended December 31, 2021, the Company recorded a goodwill decrease of $0.8 million which related to the impact of foreign currency translation adjustments.

The components of the Company’s identifiable intangible assets as of December 31, 2021 and September 30, 2021 are as follows (in thousands):

	December 31, 2021						September 30, 2021
			Accumulated		Net Book				Accumulated		Net Book
	Cost		Amortization		Value		Cost		Amortization		Value
Patents	$	1,235	$	1,026	$	209	$	1,242	$	1,002	$	240
Completed technology		75,554		34,176		41,378		75,527		32,383		43,144
Trademarks and trade names		424		37		387		424		33		391
Non-competition agreements		681		297		384		681		249		432
Customer relationships		253,577		117,346		136,231		253,486		111,159		142,327
Other intangibles		244		244		—		246		246		—
	$	331,715	$	153,126	$	178,589	$	331,606	$	145,072	$	186,534

Amortization expense for intangible assets was $8.0 million and $8.9 million, for the three months ended December 31, 2021 and 2020, respectively.

Estimated future amortization expense for the intangible assets for the remainder of fiscal year 2022, the subsequent four fiscal years and thereafter is as follows (in thousands):

2022	$	24,099
2023		30,845
2024		27,354
2025		22,574
2026		19,435
Thereafter		54,282
	$	178,589