GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 4 GOODWILL AND INTANGIBLE ASSETS

Goodwill

Goodwill represents the excess of the purchase price over the fair values of the assets acquired and liabilities assumed in a business combination, at the date of acquisition. Goodwill is not amortized but is tested for potential impairment at the reporting unit level, at a minimum on an annual basis in the fourth fiscal quarter, or when indications of potential impairment exist. All of our goodwill is within our North America Solutions reportable segment.

During the three and nine months ended June 30, 2023, we had no additions or impairments to goodwill. As of June 30, 2023 and September 30, 2022, the goodwill balance was $45.7 million.

Intangible Assets

Finite-lived intangible assets are amortized using the straight-line method over the period in which these assets contribute to our cash flows and are evaluated for impairment in accordance with our policies for valuation of long-lived assets. All of our intangible assets are within our North America Solutions reportable segment and consist of the following:


		June 30, 2023						September 30, 2022
(in thousands)	Weighted Average Estimated Useful Lives	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
Finite-lived intangible asset:
Developed technology	15 years	$	89,096	$	32,603	$	56,493	$	89,096	$	28,137	$	60,959
Intellectual property	13 years	2,000		463		1,537		2,000		328		1,672
Trade name	20 years	5,865		1,712		4,153		5,865		1,475		4,390
Customer relationships	5 years	4,000		4,000		—		4,000		3,867		133
		$	100,961	$	38,778	$	62,183	$	100,961	$	33,807	$	67,154

Amortization expense in the Unaudited Condensed Consolidated Statements of Operations was $1.6 million and $1.8 million for the three months ended June 30, 2023 and 2022 respectively and $5.0 million and $5.4 million for the nine months ended June 30, 2023 and 2022 respectively. Amortization expense is estimated to be approximately $1.6 million for the remainder of fiscal year 2023, and approximately $6.4 million for fiscal year 2024 through 2027.