NOTE 5 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, or when indications of potential impairment exist. All of our goodwill is within our H&P Technologies reportable segment.

The following is a summary of changes in goodwill (in thousands):


Balance at September 30, 2018		64,777
Additions (Note 1)		3,125
Balance at March 31, 2019	$	67,902

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. Intangible assets arising from business acquisitions consisted of the following:


	March 31, 2019						September 30, 2018
	Gross						Gross
	Carrying		Accumulated				Carrying		Accumulated
(in thousands)	Amount		Amortization		Net		Amount		Amortization		Net
Finite-lived intangible asset:
Developed technology	$	70,200	$	7,922	$	62,278	$	70,000	$	5,589	$	64,411
Trade name		5,700		380		5,320		5,700		237		5,463
Customer relationships		4,000		1,067		2,933		4,000		667		3,333
	$	79,900	$	9,369	$	70,531	$	79,700	$	6,493	$	73,207

Amortization expense in the Unaudited Condensed Consolidated Statements of Operations was $1.4 million and $1.7 million for three months ended March 31, 2019 and 2018, respectively, and $2.8 million and $2.5 million for the six months ended March 31, 2019 and 2018, respectively. Estimated intangible amortization is estimated to be approximately $5.8 million for each of the next three succeeding fiscal years and approximately $5.1 million for fiscal year 2023.