Other Intangible Assets

3 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the components of gross and net acquired intangible assets:


	Gross		Accumulated Amortization		Accumulated Impairment		Net Carrying Value
	(in millions)
December 30, 2023
Marketing-related intangible assets – amortizable	$	22.1	$	(21.7)	$	—	$	0.4
Marketing-related intangible assets – nonamortizable	252.5		—		(29.4)		223.1
Total	274.6		(21.7)		(29.4)		223.5
Customer-related intangible assets – amortizable	416.4		(154.4)		(10.3)		251.8
Other acquired intangible assets – amortizable	39.7		(31.5)		(0.3)		7.9
Other acquired intangible assets – nonamortizable	7.1		—		(1.2)		5.9
Total	46.8		(31.5)		(1.5)		13.8
Total other intangible assets, net	$	737.8	$	(207.6)	$	(41.2)	$	489.1
	Gross		Accumulated Amortization		Accumulated Impairment		Net Carrying Value
	(in millions)
December 24, 2022
Marketing-related intangible assets – amortizable	$	22.1	$	(20.9)	$	—	$	1.2
Marketing-related intangible assets – nonamortizable	252.5		—		(26.0)		226.5
Total	274.6		(20.9)		(26.0)		227.7
Customer-related intangible assets – amortizable	416.4		(125.4)		(2.5)		288.4
Other acquired intangible assets – amortizable	39.7		(27.6)		—		12.2
Other acquired intangible assets – nonamortizable	7.1		—		(1.2)		5.9
Total	46.8		(27.6)		(1.2)		18.1
Total other intangible assets, net	$	737.8	$	(173.9)	$	(29.8)	$	534.2
	Gross		Accumulated Amortization		Accumulated Impairment		Net Carrying Value
	(in millions)
September 30, 2023
Marketing-related intangible assets – amortizable	$	22.1	$	(21.5)	$	—	$	0.6
Marketing-related intangible assets – nonamortizable	252.5		—		(29.4)		223.1
Total	274.6		(21.5)		(29.4)		223.7
Customer-related intangible assets – amortizable	416.4		(147.4)		(10.3)		258.8
Other acquired intangible assets – amortizable	39.7		(30.5)		(0.3)		8.9
Other acquired intangible assets – nonamortizable	7.1		—		(1.2)		5.9
Total	46.8		(30.5)		(1.5)		14.8
Total other intangible assets, net	$	737.8	$	(199.4)	$	(41.2)	$	497.2

Other acquired intangible assets include contract-based and technology-based intangible assets.

The Company evaluates long-lived assets, including amortizable and indefinite-lived intangible assets, for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company evaluates indefinite-lived intangible assets on an annual basis. Factors indicating the carrying value of the Company’s amortizable intangible assets may not be recoverable were not present in the three months ended December 30, 2023, and accordingly, no impairment testing was performed on these assets.

The Company amortizes its acquired intangible assets with definite lives over periods ranging from two years to 25 years; over weighted average remaining lives of one year for marketing-related intangibles, 11 years for customer-related intangibles and five years for

other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately $8.2 million and $9.0 million for the three months ended December 30, 2023 and December 24, 2022, respectively, and is classified within selling, general and administrative expenses in the condensed consolidated statements of operations. Estimated annual amortization expense related to acquired intangible assets in each of the succeeding five years is estimated to be approximately $29 million per year from fiscal 2024 through fiscal 2026 and $25 million per year from fiscal 2027 through fiscal 2028.