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Goodwill and Other Identifiable Intangible Assets, Net
 3 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER IDENTIFIABLE INTANGIBLE ASSETS, NET GOODWILL AND OTHER INTANGIBLE ASSETS, NET
Amortizable intangible assets were (in thousands):
 December 31, 2021September 30, 2021
Gross
carrying
amount		Accum.
amort.		NetGross
carrying
amount		Accum.
amort.		Net
Purchased and core technology$85,162 $(52,090)$33,072 $69,162 $(50,701)$18,461 
License agreements112 (112)— 112 (112)— 
Patents and trademarks39,559 (15,576)23,983 23,491 (14,978)8,513 
Customer relationships309,278 (44,039)265,239 130,278 (39,973)90,305 
Non-compete agreements600 (600)— 600 (600)— 
Order backlog1,000 (500)500 1,000 (250)750 
Total$435,711 $(112,917)$322,794 $224,643 $(106,614)$118,029 

Amortization expense was $6.3 million and $4.0 million for the three months ended December 31, 2021 and 2020, respectively. Amortization expense is recorded on our condensed consolidated statements of operations within cost of sales and in general and administrative expense.
Estimated amortization expense related to intangible assets for the remainder of fiscal 2022 and the five succeeding fiscal years is (in thousands):
2022 (nine months)$20,717 
2023$24,996 
2024$24,282 
2025$20,825 
2026$20,593 
2027$18,582 
The changes in the carrying amount of goodwill by reportable segments are (in thousands):
 Three months ended December 31,
 IoT
Products and Services		IoT
Solutions		Total
Balance on September 30, 2021$175,180 $50,342 $225,522 
Acquisition— 116,890 116,890 
Adjustment154 — 154 
Foreign currency translation adjustment(51)(17)(68)
Balance at December 31, 2021$175,283 $167,215 $342,498 
Goodwill represents the excess of cost over the fair value of net identifiable assets acquired. Goodwill is quantitatively tested for impairment on an annual basis as of June 30, or more frequently if events or circumstances occur which could indicate impairment. We continue to have 2 reportable segments, our IoT Products & Services segment and our IoT Solutions segment (see Note 8). Effective with the reorganization announcement on October 7, 2020, our IoT Products & Services business is now structured to include four reporting units under the IoT Products & Services segment, each with a reporting manager: Cellular Routers, Console Servers, OEM Solutions and Infrastructure Management. We had four reporting units along with our IoT Solutions segment that were tested individually for impairment during our third quarter fiscal 2021 annual impairment test. Following our acquisition of Ventus in November, 2021, we have 2 reporting units within our IoT Solutions segment that will be tested for impairment during our Fiscal 2022 annual impairment test in addition to the 4 reporting units included in IoT Products & Services.
6. GOODWILL AND OTHER INTANGIBLE ASSETS, NET (CONTINUED)
Results of our Fiscal 2021 Annual Impairment Test
As of June 30, 2021, we had a total of $32.7 million of goodwill for the Enterprise Routers reporting unit, $60.2 million of goodwill for the Console Servers reporting unit, $63.4 million of goodwill for the OEM Solutions reporting unit, $15.4 million of goodwill for the Infrastructure Mgmt. reporting unit and $49.5 million of goodwill for the IoT Solutions reporting unit. At June 30, 2021, fair value exceeded the carrying value by more than 20% for all five reporting units. Implied fair values for both reporting units were each calculated on a standalone basis using a weighted combination of the income approach and market approach. The implied fair values of each reporting unit were added together along with our unallocated assets to get an indicated value of total equity to which a range of indicated value of total equity was derived. This range was compared to the total market capitalization of $686.3 million as of June 30, 2021. This implied a range of control (deficit)/ premiums of (4.5)% to 5.4%. This range of control premiums fell below the control premiums observed in the last five years in the communications equipment industry. As a result, the market capitalization reconciliation analysis proved support for the reasonableness of the fair values estimated for each individual reporting unit.