In connection with the acquisition of Aquana in July 2021, the Company recorded goodwill of $0.7 million (deductible for tax purposes) and other intangible assets of $0.7 million. The operations of Aquana are included as a component of the Company’s Adjacent Markets reporting unit.

At September 30, 2021, the Company had additional goodwill of $4.3 million and other intangible assets, net of $4.5 million attributable to its Emerging Markets reporting unit and other intangible assets, net of $2.1 million attributable to its Oil & 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 September 30, 2021, the Company assessed the goodwill associated with both its Adjacent Markets and Emerging Markets reporting units for impairment. The fair value of the reporting units were estimated using the expected present value of future cash flows, market data and using estimates, judgments and other assumptions that management believes were appropriate under the circumstances. The estimates and judgments used in the assessment included consideration of market participant rates of return and the terminal value of the reporting units. The Company determined future cash flows provided the best estimate of the fair value of its reporting units. In determining fair value for the Company’s Emerging Markets reporting unit, estimated future cash flows included obtaining a second contract with the CBP. Key assumptions in the impairment analysis include revenue and EBITDA projections, discount rates, long-term growth rates, and the effective tax rate the Company determined to be appropriate. These estimates and projections can be unpredictable, particularly for Quantum as an emerging business. The total Company’s estimate of reporting unit fair values was reconciled to its then market capitalization (based upon the stock market price) plus an implied control premium.

The assessment determined that the fair market value of its Adjacent Markets and Emerging Markets reporting units were more than their carrying amount. As a result, no impairment charges were recorded for the fiscal year ended September 30, 2021. For the fiscal year ended September 30, 2020, the Company recorded an impairment charge of $0.7 million for the entire goodwill associated with its Oil and Gas Markets reporting unit. Also see Note 1 to these consolidated financial statements.

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

	Weighted-Average Remaining Useful Lives (in years)		AS OF SEPTEMBER 30,
			2021			2020
Goodwill			$	5,072		$	4,337
Other intangible assets:
Developed technology	15.2		$	6,475		$	5,918
Customer relationships	0.9			3,900			3,900
Trade names	2.0			2,022			1,930
Non-compete agreements	1.0			186			170
Total other intangible assets		8.4		12,583			11,918
Accumulated amortization				(5,333	)		(3,587	)
			$	7,250		$	8,331

Other intangible assets amortization expense was $1.7 million for each of the fiscal years ended September 30, 2021 and 2020

As of September 30, 2021, future estimated amortization expense of other intangible assets is as follows (in thousands):

For fiscal years ending September 30,
2022	$	1,677
2023		768
2024		395
2025		381
2026		374
Thereafter		3,655
	$	7,250