Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

11. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following summarizes changes in the carrying value of goodwill by segment for the nine months ended June 30, 2020:

	Commercial & Industrial		Communications		Infrastructure Solutions		Residential		Total
Goodwill at September 30, 2019	$	6,976	$	2,816	$	30,812	$	10,018	$	50,622
Acquisitions		—		—		3,916		5,946		9,862
Divestitures		—		—		—		—		—
Adjustments		—		—		—				—
Goodwill at June 30, 2020	$	6,976	$	2,816	$	34,728	$	15,964	$	60,484

As a result of recent operating losses within our Commercial and Industrial business, we determined that an indicator of a potential goodwill impairment was present. As a result of this indicator, we performed a quantitative goodwill impairment assessment as of March 31, 2020. Based on the results of this assessment, we concluded that the fair value of our Commercial and Industrial reporting unit remains in excess of its carrying value, and therefore, we did not record an impairment charge. Our estimate of implied fair value requires us to use significant unobservable inputs, representative of Level 3 fair value measurements, including numerous assumptions with respect to future circumstances, such as industry and/or local market conditions, including the impact of COVID-19 on our business, that might directly impact the future performance of our business, and are therefore uncertain.

As of June 30, 2020, it is reasonably possible that judgments and estimates of certain key assumptions, including our internal forecasts or the external market conditions, could change in future periods and may result in a reduction in fair value. Significant adverse changes in future periods to these key assumptions, if any, could reasonably be expected to negatively affect our estimate of implied fair value, and may result in future goodwill impairment charges.

Intangible Assets

Intangible assets consist of the following:

	Estimated Useful Lives (in Years)	June 30, 2020
			Gross Carrying Amount		Accumulated Amortization	Net
Trademarks/trade names	5-20	$	7,754	$	(1,593)	$	6,161
Technical library	20		400		(136)		264
Customer relationships	6-15		46,269		(13,797)		32,472
Non-competition arrangements	5		1,300		(59)		1,241
Backlog and construction contracts	1		3,063		(1,009)		2,054
Total intangible assets		$	58,786	$	(16,594)	$	42,192

	Estimated Useful Lives (in Years)	September 30, 2019
			Gross Carrying Amount		Accumulated Amortization	Net
Trademarks/trade names	5-20	$	5,084	$	(1,267)	$	3,817
Technical library	20		400		(121)		279
Customer relationships	6-15		33,539		(11,051)		22,488
Non-competition arrangements	5		40		(9)		31
Backlog and construction contracts	1		599		(591)		8
Total intangible assets		$	39,662	$	(13,039)	$	26,623

The weighted average useful life of our intangible assets at June 30, 2020 was 10.4 years.