Goodwill and Purchased Intangible Assets

3 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Purchased Intangible Assets

Goodwill and other indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually or more frequently if potential interim indicators exist that could result in impairment. The Company performs its annual impairment test in the fourth quarter of its fiscal year.

The following table presents changes in goodwill during the three months ended December 31, 2017 (in millions):



	Access Equipment		Fire & Emergency		Commercial			Total
Net goodwill at September 30, 2017	$	885.9	$	106.1	$	21.0		$	1,013.0
Foreign currency translation	2.9		—		(0.1		)	2.8
Net goodwill at December 31, 2017	$	888.8	$	106.1	$	20.9		$	1,015.8

The following table presents details of the Company’s goodwill allocated to the reportable segments (in millions):



	December 31, 2017							September 30, 2017
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Access equipment	$	1,820.9	$	(932.1	)	$	888.8	$	1,818.0	$	(932.1	)	$	885.9
Fire & emergency	108.1		(2.0		)	106.1		108.1		(2.0		)	106.1
Commercial	196.8		(175.9		)	20.9		196.9		(175.9		)	21.0
	$	2,125.8	$	(1,110.0	)	$	1,015.8	$	2,123.0	$	(1,110.0	)	$	1,013.0

Details of the Company’s total purchased intangible assets are as follows (in millions):



	December 31, 2017
	Weighted- Average Life (in years)	Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Distribution network	39.1	$	55.4	$	(29.8	)	$	25.6
Technology-related	11.9	104.7		(101.2		)	3.5
Customer relationships	12.8	555.0		(476.3		)	78.7
Other	16.4	16.5		(14.8		)	1.7
	14.4	731.6		(622.1		)	109.5
Non-amortizable trade names		387.8		—			387.8
		$	1,119.4	$	(622.1	)	$	497.3



	September 30, 2017
	Weighted- Average Life (in years)	Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Distribution network	39.1	$	55.4	$	(29.5	)	$	25.9
Technology-related	11.9	104.7		(99.7		)	5.0
Customer relationships	12.8	555.0		(467.6		)	87.4
Other	16.3	16.4		(14.7		)	1.7
	14.4	731.5		(611.5		)	120.0
Non-amortizable trade names		387.8		—			387.8
		$	1,119.3	$	(611.5	)	$	507.8

The estimated future amortization expense of purchased intangible assets for the remainder of fiscal 2018 and the five years succeeding September 30, 2018 are as follows: 2018 (remaining nine months) - $27.7 million; 2019 - $36.9 million; 2020 - $11.0 million; 2021 - $5.3 million; 2022 - $4.9 million; and 2023 - $3.5 million.

- 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.

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