Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.7.0.1
Goodwill and Other Intangible Assets
 6 Months Ended
Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets

A summary of the carrying amount of goodwill attributable to each segment as well as the changes in such amounts are as follows:
 
SGK Brand
Solutions
 
Memorialization
 
Industrial Technologies
 
Consolidated
 
 
 
 
 
 
 
 
Goodwill
$
458,510

 
$
347,116

 
$
56,615

 
$
862,241

Accumulated impairment losses
(5,752
)
 
(5,000
)
 
—

 
(10,752
)
Balance at September 30, 2016
452,758

 
342,116

 
56,615

 
851,489

 
 
 
 
 
 
 
 
Additions during period
16,059

 
—

 
11,727

 
27,786

Translation and other adjustments
(8,983
)
 
(2,449
)
 
40

 
(11,392
)
Goodwill
465,586

 
344,667

 
68,382

 
878,635

Accumulated impairment losses
(5,752
)
 
(5,000
)
 
—

 
(10,752
)
Balance at March 31, 2017
$
459,834

 
$
339,667

 
$
68,382

 
$
867,883


The Company performed its annual impairment review in the second quarter of fiscal 2017 and has determined that estimated fair value for all reporting units exceeded carrying value, therefore no adjustments to the carrying value of goodwill were necessary.
The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of March 31, 2017 and September 30, 2016, respectively.
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
March 31, 2017:
 
 
 
 
 
Trade names
$
168,467

 
$
—

*
$
168,467

Trade names
1,756

 
(1,756
)
 
—

Customer relationships
329,925

 
(71,597
)
 
258,328

Copyrights/patents/other
14,206

 
(10,743
)
 
3,463

 
$
514,354

 
$
(84,096
)
 
$
430,258

 
 
 
 
 
 
September 30, 2016:
 

 
 

 
 

Trade names
$
168,467

 
$
—

*
$
168,467

Trade names
1,814

 
(1,802
)
 
12

Customer relationships
286,595

 
(61,706
)
 
224,889

Copyrights/patents/other
11,066

 
(10,593
)
 
473

 
$
467,942

 
$
(74,101
)
 
$
393,841

* Not subject to amortization
 
 

 
 



The net change in intangible assets during the six months ended March 31, 2017 included the impact of foreign currency fluctuations during the period, additional amortization, and additions related to the Guidance, Ungricht, VCG, RAF and Equator acquisitions.

Amortization expense on intangible assets was $5,634 and $5,190 for the three-month periods ended March 31, 2017 and 2016, respectively.  For the six-month periods ended March 31, 2017 and 2016, amortization expense was $10,575 and $10,406, respectively. Amortization expense is estimated to be $11,886 for the remainder of fiscal 2017, $21,724 in 2018, $20,677 in 2019, $19,561 in 2020 and $18,802 in 2021.