XML 36 R26.htm IDEA: XBRL DOCUMENT v3.24.0.1
Intangible Assets and Goodwill
3 Months Ended
Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill Intangible Assets
Intangible assets consisted of the following:
 
DescriptionAs of December 30, 2023As of September 30, 2023
Gross
Carrying
Value
Accumulated
Amortization
Gross
Carrying
Value
Accumulated
Amortization
Acquired intangible assets:
Developed technology$4,419.7 $3,698.9 $4,411.0 $3,649.5 
In-process research and development22.4 — 25.7 — 
Customer relationships602.6 559.6 600.0 550.6 
Trade names254.1 219.0 253.6 212.8 
Total acquired intangible assets$5,298.8 $4,477.5 $5,290.3 $4,412.9 
Internal-use software24.9 18.7 24.0 17.8 
Capitalized software embedded in products28.4 23.2 27.7 22.7 
Total intangible assets$5,352.1 $4,519.4 $5,342.0 $4,453.4 

The estimated remaining amortization expense of the Company’s acquired intangible assets as of December 30, 2023 for each of the five succeeding fiscal years was as follows:

Remainder of Fiscal 2024
$151.5 
Fiscal 2025
$188.5 
Fiscal 2026
$158.6 
Fiscal 2027
$71.5 
Fiscal 2028
$68.5 

During the first quarter of fiscal 2024, the Company assessed its only in-process research and development intangible asset from its Mobidiag Oy acquisition for impairment. The Company determined the fair value of this indefinite lived asset utilizing the DCF model and recorded a $4.3 million impairment charge, reducing the fair value of this asset to $22.4 million. The reduction in fair value of this asset was primarily due to a reduction in forecasted revenues and a delay in the timing of completing the project. In addition, the Company determined that the useful life of the customer relationship and trademark intangible assets from its Mobidiag acquisition should be shortened and recorded accelerated amortization expense of $7.3 million.