Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets

v3.10.0.1
Goodwill and Other Intangible Assets
 3 Months Ended
Dec. 31, 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
$
491,070

 
$
376,550

 
$
92,026

 
$
959,646

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

 
(10,752
)
Balance at September 30, 2018
485,318

 
371,550

 
92,026

 
948,894

 
 
 
 
 
 
 
 
Additions during period
1,415

 
—

 
—

 
1,415

Divestiture during period
—

 
(14,970
)
 
—

 
$
(14,970
)
Translation and other adjustments
(4,429
)
 
750

 
(203
)
 
(3,882
)
Goodwill
$
488,056

 
$
362,330

 
$
91,823

 
$
942,209

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

 
(10,752
)
Balance at December 31, 2018
$
482,304

 
$
357,330

 
$
91,823

 
$
931,457


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 December 31, 2018 and September 30, 2018, respectively.
 
Carrying
Amount
 
Accumulated
Amortization
 
Net
December 31, 2018:
 
 
 
 
 
Trade names
$
126,047

 
$
—

*
$
126,047

Trade names
53,319

 
(6,493
)
 
46,826

Customer relationships
376,456

 
(117,384
)
 
259,072

Copyrights/patents/other
20,745

 
(12,891
)
 
7,854

 
$
576,567

 
$
(136,768
)
 
$
439,799

 
 
 
 
 
 
September 30, 2018:
 

 
 

 
 

Trade names
$
126,047

 
$
—

*
$
126,047

Trade names
53,523

 
(5,444
)
 
48,079

Customer relationships
372,382

 
(110,760
)
 
261,622

Copyrights/patents/other
20,848

 
(12,686
)
 
8,162

     *Not subject to amortization
$
572,800

 
$
(128,890
)
 
$
443,910



The net change in intangible assets during the three months ended December 31, 2018 included the impact of foreign currency fluctuations during the period, additional amortization, additions related to the Frost acquisition, and reductions from the divestiture of a Memorialization business.

Amortization expense on intangible assets was $8,113 and $6,681 for the three-month periods ended December 31, 2018 and 2017, respectively.  Amortization expense is estimated to be $24,588 for the remainder of fiscal 2019, $31,060 in 2020, $29,585 in 2021, $27,945 in 2022 and $26,338 in 2023.