Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

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Goodwill and Other Intangible Assets
 6 Months Ended
Mar. 31, 2022
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
Net goodwill at September 30, 2021
 $ 314,850  $ 366,360  $ 92,577  $ 773,787 
Translation and other adjustments (3,524) (1,010) (142) (4,676)
Net goodwill at March 31, 2022
 $ 311,326  $ 365,350  $ 92,435  $ 769,111 
The net goodwill balances at March 31, 2022 and September 30, 2021 included $178,732 of accumulated impairment losses. Accumulated impairment losses at March 31, 2022 and September 30, 2021 were $149,786, $5,000, and $23,946 for the SGK Brand Solutions, Memorialization, and Industrial Technologies segments, respectively.
The Company performed its annual impairment review of goodwill and indefinite-lived intangible assets in the second quarter of fiscal 2022 (January 1, 2022) and determined that the estimated fair values for all goodwill reporting units exceeded their carrying values, therefore no impairment charges were necessary. The estimated fair value of the Company's Graphics Imaging reporting unit, within the SGK Brand Solutions segment, exceeded the carrying value (expressed as a percentage of carrying value) by approximately 10%. If current projections are not achieved or specific valuation factors outside the Company’s control (such as discount rates and continued economic and industry impacts of COVID-19) significantly change, goodwill write-downs may be necessary in future periods.
Note 14.   Goodwill and Other Intangible Assets (continued)
The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of March 31, 2022 and September 30, 2021, respectively.
Carrying
Amount		 Accumulated
Amortization		 Net
March 31, 2022:        
Indefinite-lived trade names $ 30,540  $ —  $ 30,540 
Definite-lived trade names 148,695  (115,701) 32,994 
Customer relationships 387,088  (230,723) 156,365 
Copyrights/patents/other 21,767  (14,411) 7,356 
  $ 588,090  $ (360,835) $ 227,255 
September 30, 2021:
     
Indefinite-lived trade names $ 30,540  $ —  $ 30,540 
Definite-lived trade names 148,867  (104,211) 44,656 
Customer relationships 388,699  (210,361) 178,338 
Copyrights/patents/other 23,584  (15,576) 8,008 
$ 591,690  $ (330,148) $ 261,542 
The net change in intangible assets during the six months ended March 31, 2022 included the impact of foreign currency fluctuations during the period and additional amortization.
Amortization expense on intangible assets was $11,953 and $22,930 for the three-month periods ended March 31, 2022 and 2021, respectively. For the six month period ended March 31, 2022 and 2021, amortization expense was $33,499 and $38,151, respectively. Amortization expense is estimated to be $23,976 for the remainder of fiscal 2022, $41,064 in 2023, $35,505 in 2024, $19,684 in 2025 and $14,686 in 2026.