Other Intangible Assets and Goodwill

9 Months Ended

Jun. 27, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Other Intangible Assets and GoodwillIndefinite-Lived Intangible Assets

(in millions)	Jun 27, 2021		Sep 27, 2020
Trade names, trademarks and patents	$	96.0	$	95.0

Finite-Lived Intangible Assets

	Jun 27, 2021						Sep 27, 2020
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired and reacquired rights	$	1,144.0	$	(932.6)	$	211.4	$	1,116.1	$	(765.0)	$	351.1
Acquired trade secrets and processes	27.6		(24.1)		3.5		27.6		(22.0)		5.6
Trade names, trademarks and patents	125.8		(47.0)		78.8		124.8		(32.1)		92.7
Licensing agreements	14.6		(8.9)		5.7		16.6		(15.0)		1.6
Other finite-lived intangible assets	23.9		(21.3)		2.6		22.8		(16.7)		6.1
Total finite-lived intangible assets	$	1,335.9	$	(1,033.9)	$	302.0	$	1,307.9	$	(850.8)	$	457.1

Amortization expense for finite-lived intangible assets was $50.0 million and $173.4 million for the quarter and three quarters ended June 27, 2021, respectively, and $55.9 million and $164.5 million for the quarter and three quarters ended June 28, 2020, respectively. During the third quarter of fiscal 2020, we recorded a charge of $22.1 million to restructuring and impairments on our consolidated statement of earnings related to changes in branding and marketing strategy.

Estimated future amortization expense as of June 27, 2021 (in millions):

Fiscal Year	Total
2021 (excluding the three quarters ended June 27, 2021)	$	49.7
2022	193.5
2023	20.9
2024	20.3
2025	14.5
Thereafter	3.1
Total estimated future amortization expense	$	302.0

Goodwill

Changes in the carrying amount of goodwill by reportable operating segment (in millions):

	Americas		International		Channel Development		Corporate and Other		Total
Goodwill balance at September 27, 2020	$	496.5	$	3,065.0	$	34.7	$	1.0	$	3,597.2
Other(1)	2.2		72.5		—		0.1		74.8
Goodwill balance at June 27, 2021	$	498.7	$	3,137.5	$	34.7	$	1.1	$	3,672.0

(1)“Other” consists of changes in the goodwill balance resulting from foreign currency translation.

During the third quarter of fiscal 2021, we completed our annual goodwill impairment analysis. The results of our analysis indicated significant excess fair values over carrying values across the different reporting units, and therefore no goodwill impairment was recorded.