Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.10.0.1
Goodwill and Other Intangible Assets
 9 Months Ended
Jun. 30, 2018
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
$
491,895

 
$
347,507

 
$
69,144

 
$
908,546

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

 
(10,752
)
Balance at September 30, 2017
486,143

 
342,507

 
69,144

 
897,794

 
 
 
 
 
 
 
 
Additions during period
8,743

 
30,058

 
22,877

 
61,678

Translation and other adjustments
(6,460
)
 
(34
)
 
286

 
(6,208
)
Goodwill
$
494,178

 
$
377,531

 
$
92,307

 
$
964,016

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

 
(10,752
)
Balance at June 30, 2018
$
488,426

 
$
372,531

 
$
92,307

 
$
953,264


The Company performed its annual impairment review in the second quarter of fiscal 2018 and 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 June 30, 2018 and September 30, 2017, respectively.
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
June 30, 2018:
 
 
 
 
 
Trade names
$
126,047

 
$
—

*
$
126,047

Trade names
53,561

 
(4,380
)
 
49,181

Customer relationships
373,194

 
(104,035
)
 
269,159

Copyrights/patents/other
20,926

 
(12,465
)
 
8,461

 
$
573,728

 
$
(120,880
)
 
$
452,848

 
 
 
 
 
 
September 30, 2017:
 

 
 

 
 

Trade names
$
168,467

 
$
—

*
$
168,467

Trade names
5,522

 
(2,030
)
 
3,492

Customer relationships
333,632

 
(84,560
)
 
249,072

Copyrights/patents/other
14,787

 
(11,436
)
 
3,351

     *Not subject to amortization
$
522,408

 
$
(98,026
)
 
$
424,382



The net change in intangible assets during the nine months ended June 30, 2018 included the impact of foreign currency fluctuations during the period, additional amortization, and additions related to the fiscal 2018 acquisitions. During the second quarter of fiscal 2018, the Company also converted certain of its trade names from indefinite-lived to definite-lived, and accordingly, these intangible assets are now subject to amortization.

Amortization expense on intangible assets was $8,334 and $6,364 for the three-month periods ended June 30, 2018 and 2017, respectively.  For the nine-month periods ended June 30, 2018 and 2017, amortization expense was $23,264 and $16,939, respectively. Amortization expense is estimated to be $8,494 for the remainder of fiscal 2018, $32,265 in 2019, $30,425 in 2020, $29,007 in 2021 and $27,516 in 2022.