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Goodwill and Other Intangible Assets, Net
9 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets, Net
10.
Goodwill and Other Intangible Assets, Net
During the nine months ended June 30, 2021, goodwill increased $1,129, reflecting: (i) an additional $332 acquisition measurement period adjustment related to Exalenz (see Note 6); (ii) an $80 increase from the currency translation adjustment on goodwill in the Diagnostics segment; and (iii) a $717 increase from the currency translation adjustment on goodwill in the Life Science segment.
The Company has historically performed its annual goodwill impairment assessment as of the last day of the third fiscal quarter of each year (June 30). During the third quarter of fiscal 2021, the Company decided to change the date of its annual impairment assessment from June 30 to July 1. The change was made to more closely align the annual goodwill impairment assessment date with the Company’s annual planning and budgeting process, as well as its long-term planning and forecasting process. The Company has determined this change in accounting principle is preferable and will not affect the consolidated financial statements. Pursuant to the authoritative accounting literature, in fiscal 2021 the Company will perform a goodwill impairment assessment as of the last day of its fiscal 2021 third quarter (June 30), as well as July 1, to ensure that the change in goodwill impairment assessment date did not delay or avoid an impairment charge. This change is not applied retrospectively, as it is impracticable to do so because retrospective application would require application of significant estimates and assumptions with the use of hindsight. Accordingly, the change will be applied prospectively.
At June 30, 2021, impairment review of the Company’s goodwill consisted of a qualitative assessment for each of our Diagnostics and Life Science reporting units. A qualitative assessment is first performed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value using qualitative indicators. In the event that the reporting unit does not pass the qualitative assessment, the reporting unit’s carrying value is compared to its fair value, with fair value of the reporting unit estimated using market value and discounted cash flow approaches. Both our Diagnostics and Life Science reporting units satisfied the qualitative assessment at June 30, 2021, and no impairment was recognized. The Company will perform its July 1, 2021 goodwill impairment assessment during the fourth quarter of fiscal 2021.
A summary of other intangible assets, net subject to amortization is as follows:
 
    
June 30, 2021
    
September 30, 2020
 
    
Gross
Carrying
Value
    
Accumulated
Amortization
    
Gross
Carrying
Value
    
Accumulated
Amortization
 
Manufacturing technologies, core products and cell lines
   $ 62,451      $ 21,714      $ 62,363      $ 18,750  
Trade names, licenses and patents
     18,530        9,225        18,425        7,801  
Customer lists, customer relationships and supply agreements
     45,305        18,687        45,071        16,210  
Non-compete
agreements
     110        26        110        11  
    
 
 
    
 
 
    
 
 
    
 
 
 
Total
   $ 126,396      $ 49,652      $ 125,969      $ 42,772  
    
 
 
    
 
 
    
 
 
    
 
 
 
The aggregate amortization expense for these other intangible assets was $2,090 and $2,155 for the three months ended June 30, 2021 and 2020, respectively, and $6,453 and $5,604 for the nine months ended June 30, 2021 and 2020, respectively. The estimated aggregate amortization expense for these other intangible assets for each of the fiscal years through fiscal 2026 is as follows: remainder of fiscal 2021 – $2,000, fiscal 2022 – $7,995, fiscal 2023 – $7,980, fiscal 2024 – $7,975, fiscal 2025 – $7,965, and fiscal 2026 – $7,295.