GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Dec. 31, 2015

5. GOODWILL AND INTANGIBLE ASSETS

The change in the carrying amount of goodwill from September 30, 2015 to December 31, 2015 was as follows:

	Goodwill		Accumulated Impairment		Net
Balance as of October 1, 2015	$	64,778	$	(40,394)	$	24,384
Goodwill attributable to fiscal 2016 acquisition		6,541		—		6,541
Balance as of December 31, 2015		71,319		(40,394)		30,925

The carrying amounts of intangible assets at December 31, 2015 and September 30, 2015 were as follows:

	December 31, 2015							September 30, 2015							Weighted- Average Amortization Period (Years)
	Gross Carrying Amount(1)		Accumulated Amortization(1)			Net Carrying Amount		Gross Carrying Amount(1)		Accumulated Amortization(1)			Net Carrying Amount		Weighted- Average Amortization Period (Years)
Intangible assets subject to amortization:
Trademarks/tradenames/licenses	$	13,555	$	(2,277	)	$	11,278	$	12,470	$	(1,966	)	$	10,504		11
Customer relationships/non-compete agreements		23,815		(10,442	)		13,373		16,836		(9,773	)		7,063		7
Developed software and technology		772		(772	)		—		772		(772	)		—		5
		38,142		(13,491	)		24,651		30,078		(12,511	)		17,567
Intangible assets not subject to amortization:
Trademarks/tradenames/licenses		—		—			—		38		—			38
	$	38,142	$	(13,491)		$	24,651	$	30,116	$	(12,511)		$	17,605


(1)	Amounts include the impact of foreign currency translation adjustments.

Estimated future amortization expense related to the December 31, 2015 net carrying amount of $24,651 for intangible assets subject to amortization is as follows:

Year Ending September 30,	Estimated Amortization Expense
2016(1)	$	2,898
2017		3,506
2018		3,315
2019		2,888
2020		2,799
Thereafter		9,245
	$	24,651


(1)	Estimated amortization expense for the year ending September 30, 2016 includes only amortization to be recorded after December 31, 2015.

General and economic conditions may impact retail and consumer demand, as well as the market price of the Company's common stock, and could negatively impact the Company's future operating performance, cash flow and/or stock price and could result in goodwill and/or intangible asset impairment charges being recorded in future periods. Also, the Company periodically reviews its brands to achieve marketing, sales and operational synergies. These reviews could result in brands being consolidated or discontinued and could result in intangible asset impairment charges being recorded in future periods. Goodwill and/or intangible asset impairment charges could materially impact the Company's consolidated financial statements. The valuation of goodwill and intangible assets is subject to a high degree of judgment, uncertainty and complexity.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details