Other Intangible Assets

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



	Gross		Accumulated Amortization			Accumulated Impairment			Net Carrying Value
			(in millions)
September 24, 2016
Marketing-related intangible assets – amortizable	$	14.9	$	(11.3	)	$	—		$	3.6
Marketing-related intangible assets – nonamortizable	63.0		—			(26.0		)	37.0
Total	77.9		(11.3		)	(26.0		)	40.6
Customer-related intangible assets – amortizable	65.6		(26.1		)	—			39.5
Other acquired intangible assets – amortizable	20.8		(11.6		)	—			9.2
Other acquired intangible assets – nonamortizable	7.8		—			(1.2		)	6.6
Total	28.6		(11.6		)	(1.2		)	15.8
Total other intangible assets	$	172.1	$	(49.0	)	$	(27.2	)	$	95.9
September 26, 2015
Marketing-related intangible assets – amortizable	$	14.1	$	(10.4	)	$	—		$	3.7
Marketing-related intangible assets – nonamortizable	59.6		—			(24.2		)	35.4
Total	73.7		(10.4		)	(24.2		)	39.1
Customer-related intangible assets – amortizable	43.3		(22.3		)	—			21.0
Other acquired intangible assets – amortizable	19.3		(10.5		)	—			8.8
Other acquired intangible assets – nonamortizable	7.8		—			(1.2		)	6.6
Total	27.1		(10.5		)	(1.2		)	15.4
Total other intangible assets	$	144.1	$	(43.2	)	$	(25.4	)	$	75.5

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

As part of its acquisitions of IMS Trading Corp during the fourth quarter of fiscal 2015, as well as Hydro Organics Wholesale, Inc and DMC in the first quarter of fiscal 2016, the Company acquired approximately $4.2 million of marketing related intangible assets, $22.7 million of customer related intangible assets and $1.5 million of other intangible assets. See Note 3 – Acquisitions.

In fiscal 2016, the Company recognized a non-cash $1.8 million impairment charge to certain indefinite-lived intangible assets as a result of declining volume of sales.

In fiscal 2015, the Company recognized a non-cash $7.3 million impairment charge to certain indefinite-lived intangible assets as a result of increased competition in the marketplace and declining volume of sales.

The Company is currently amortizing its acquired intangible assets with definite lives over periods ranging from four years to 25 years; over weighted average remaining lives of six years for marketing-related intangibles, 11 years for customer-related intangibles and 13 years for other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately $5.8 million, $4.3 million and $4.3 million, for fiscal 2016, 2015 and 2014, respectively, and is classified within operating expenses in the 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 $5 million per year from fiscal 2017 through fiscal 2021.

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. Other factors indicating the carrying value of the Company’s amortizable intangible assets may not be recoverable were not present in fiscal 2016, and accordingly, no impairment testing was performed on these assets.