Goodwill and Other Intangible Assets

3 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

The Company’s consolidated goodwill and other intangible assets consisted of the following (in thousands):


	Weighted-
	Average
	Remaining Useful
	Lives (in years)	December 31, 2022			September 30, 2022
Goodwill:
Emerging Markets reporting unit		$	4,336		$	4,336
Adjacent Markets reporting unit			736			736
Total goodwill			5,072			5,072
Accumulated impairment losses			(4,336	)		(4,336	)
		$	736		$	736

Other intangible assets:
Developed technology	13.9	$	6,475		$	6,475
Customer relationships	--		3,900			3,900
Trade names	0.8		2,022			2,022
Non-compete agreements	0.2		186			186
Total other intangible assets	7.3		12,583			12,583
Accumulated amortization			(7,248	)		(7,010	)
		$	5,335		$	5,573

At December 31, 2022, the Company had goodwill of $0.7 million and other intangible assets, net of $0.6 million attributable to its Adjacent Markets reporting unit; other intangible assets, net of $3.3 million attributable to its Emerging Markets reporting unit; and other intangible assets, net of $1.4 million attributable to its Oil and Gas Markets reporting unit. Goodwill represents the excess cost of a business acquired over the fair market value of identifiable net assets at the date of acquisition.

At December 31, 2022, the Company determined there were no triggering events requiring an impairment assessment of its goodwill and other intangible assets. The Company performs its annual goodwill impairment test in the fourth quarter. If the Company determines that the future cash flows anticipated to be generated from its reporting units will not be sufficient to recover the carrying amount of the respective reporting unit, it will need to recognize an impairment charge equal to the difference between the carrying amount of the reporting unit and its fair value, not to exceed the carrying amount of the goodwill.

Other intangible asset amortization expense for the three months ended December 31, 2022 and 2021 was $0.2 million and $0.4 million, respectively.

As of December 31, 2022, future estimated amortization expense of other intangible assets is as follows (in thousands):


For fiscal years ending September 30,
2023 (remainder)	$	529
2024		395
2025		381
2026		374
2027		360
Thereafter		3,296
	$	5,335