GOODWILL AND OTHER INTANGIBLES

9 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The following table provides changes in the carrying value of goodwill by segment during the nine months ended June 30, 2021:


	At September 30, 2020		Business Acquisitions (a)		Business Divestitures (b)		Foreign currency translations adjustments		At June 30, 2021
Consumer and Professional Products	$	232,845	$	784	$	—	$	3,133	$	236,762
Home and Building Products	191,253		—		—		—		191,253
Defense Electronics	18,545		—		(811)		—		17,734

Total	$	442,643	$	784	$	(811)	$	3,133	$	445,749

(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 June 30, 2021					At September 30, 2020
	Gross Carrying Amount		Accumulated Amortization		Average Life (Years)	Gross Carrying Amount		Accumulated Amortization
Customer relationships & other	$	189,511	$	74,233	23	$	185,940	$	66,656
Technology and patents	19,568		8,237		13	19,464		8,360
Total amortizable intangible assets	209,079		82,470			205,404		75,016
Trademarks	228,879		—			224,640		—
Total intangible assets	$	437,958	$	82,470		$	430,044	$	75,016

The gross carrying amount of intangible assets was impacted by approximately $5,832 related to foreign currency translation.

Amortization expense for intangible assets was $2,435 and $2,381 for the quarters ended June 30, 2021 and 2020, respectively, and $7,246 and $7,177 for the nine months ended June 30, 2021 and 2020. 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 - $2,139; 2022 - $9,376; 2023 - $9,224; 2024 - $9,198; 2025 - $9,198; 2026 - $9,198; thereafter $78,276.

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 nine months ended June 30, 2021, 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 June 30, 2021.