Goodwill and Purchased Intangible Assets

6 Months Ended

Mar. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Purchased Intangible Assets

11.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 six months ended March 31, 2020 (in millions):

	Access equipment		Fire & emergency		Commercial			Total
Net goodwill at September 30, 2019	$	868.8	$	106.1	$	20.8		$	995.7
Foreign currency translation		0.3		—		(0.1	)		0.2
Net goodwill at March 31, 2020	$	869.1	$	106.1	$	20.7		$	995.9

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

	March 31, 2020							September 30, 2019
	Gross		Accumulated Impairment			Net		Gross		Accumulated Impairment			Net
Access equipment	$	1,801.2	$	(932.1	)	$	869.1	$	1,800.9	$	(932.1	)	$	868.8
Fire & emergency		108.1		(2.0	)		106.1		108.1		(2.0	)		106.1
Commercial		196.6		(175.9	)		20.7		196.7		(175.9	)		20.8
	$	2,105.9	$	(1,110.0	)	$	995.9	$	2,105.7	$	(1,110.0	)	$	995.7

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

	March 31, 2020
	Weighted- Average Life (in years)		Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Distribution network		39.1	$	55.4	$	(33.1	)	$	22.3
Technology-related		11.9		104.7		(102.9	)		1.8
Customer relationships		12.8		554.8		(544.0	)		10.8
Other		16.1		16.4		(15.0	)		1.4
		14.7		731.3		(695.0	)		36.3
Non-amortizable trade names				387.6		—			387.6
			$	1,118.9	$	(695.0	)	$	423.9

	September 30, 2019
	Weighted- Average Life (in years)	Gross		Accumulated Amortization			Net
Amortizable intangible assets:
Distribution network	39.1	$	55.4	$	(32.3	)	$	23.1
Technology-related	11.9		104.7		(102.6	)		2.1
Customer relationships	12.8		554.8		(536.8	)		18.0
Other	16.1		16.3		(14.9	)		1.4
	14.7		731.2		(686.6	)		44.6
Non-amortizable trade names			387.7		—			387.7
		$	1,118.9	$	(686.6	)	$	432.3

The estimated future amortization expense of purchased intangible assets for the remainder of fiscal 2020 and the five years succeeding September 30, 2020 are as follows: 2020 (remaining six months) - $2.7 million; 2021 - $5.3 million; 2022 - $4.9 million; 2023 - $3.5 million; 2024 - $1.7 million; and 2025 - $1.5 million.