GOODWILL AND OTHER INTANGIBLES

3 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table provides changes in the carrying value of goodwill by segment during the three months ended December 31, 2020:


	At September 30, 2020		Business Acquisitions (a)		Business Divestitures (b)		Foreign currency translations adjustments		At December 31, 2020
Consumer and Professional Products	$	232,845	$	1,799	$	—	$	2,865	$	237,509
Home and Building Products	191,253		—		—		—		191,253
Defense Electronics	18,545		—		(851)		—		17,694

Total	$	442,643	$	1,799	$	(851)	$	2,865	$	446,456

(a) The increase in the CPP segment was due to the acquisition of Quatro.

(b) The decrease in the DE segment was due to the divestiture of SEG.

The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets:


	At December 31, 2020					At September 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	188,030	$	69,354	23	$	185,940	$	66,656
Technology and patents	19,654		8,007		13	19,464		8,360
Total amortizable intangible assets	207,684		77,361			205,404		75,016
Trademarks	227,509		—			224,640		—
Total intangible assets	$	435,193	$	77,361		$	430,044	$	75,016

The gross carrying amount of intangible assets was impacted by approximately $3,700 related to foreign currency translation.

Amortization expense for intangible assets was $2,378 and $2,393 for the quarters ended December 31, 2020 and 2019, respectively. Amortization expense for the remainder of 2021 and the next five fiscal years and thereafter, based on current intangible balances and classifications, is estimated as follows: 2021 - $7,007; 2022 - $9,376; 2023 - $9,224; 2024 - $9,198; 2025 - $9,198; 2026 - $9,198; thereafter $77,122.

Griffon performs its annual goodwill impairment testing in the fourth quarter of each year. The 2020 impairment testing resulted in all three reporting units having fair values substantially in excess of their carrying values. In addition to the annual impairment test, the Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. In connection with the sale of the SEG business, the Company assessed the remaining DE reporting unit for impairment. The assessment determined that the fair value of the DE reporting unit substantially exceeded its carrying value and no impairment existed. During the quarter ended December 31, 2020, the Company determined that there were no other triggering events and, as a result, there was no impairment to either its goodwill or indefinite-lived intangible assets at December 31, 2020.