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Goodwill and Intangible Assets
 12 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The Company’s intangible assets by major asset class subject to amortization as of:
September 30, 2021Weighted Average Life at September 30, Original
Cost		Accumulated
Amortization		ImpairmentCurrency TranslationNet Book
Value
Intangible assets:
Trade name8 years$1,876 $1,850 $— $— $26 
Technology asset5 years1,869 1,869 — — — 
Customer relationships10 years13,589 12,736 — (5)848 
Total intangible assets$17,334 $16,455 $— $(5)$874 
September 30, 2020    
Intangible assets:
Trade name8 years$1,876 $1,729 $— $(12)$135 
Technology asset
5 years
1,869 1,843 — (24)2 
Customer relationships
10 years
13,589 11,833 — (3)1,753 
Total intangible assets$17,334 $15,405 $— $(39)$1,890 

The amortization expense on identifiable intangible assets for fiscal 2021 and 2020 was $1,011 and $1,497, respectively.
Amortization expense associated with the identified intangible assets is expected to be as follows:
 Amortization
Expense
Fiscal year 2022$324 
Fiscal year 2023247 
Fiscal year 2024174 
Fiscal year 2025129 
Fiscal year 2026— 

Goodwill is not amortized, but is subject to an annual impairment test. The Company tests its goodwill for impairment in the fourth fiscal quarter, and in interim periods if certain events occur indicating that the carrying amount of goodwill may be impaired.

The Company uses a fair value measurement approach which combines the income (discounted cash flow method) and market valuation (market comparable method) techniques for each of the Company’s reporting units that carry goodwill. These valuation techniques use estimates and assumptions including, but not limited to, the determination of appropriate market comparable, projected future cash flows (including timing and profitability), discount rate reflecting the risk inherent in future cash flows, perpetual growth rate, and projected future economic and market conditions (Level 3 inputs).

Although the Company believes its assumptions are reasonable, actual results may vary significantly and may expose the Company to material impairment charges in the future.  The methodology for determining fair values was consistent for the periods presented. 
2021 and 2020 Annual Goodwill Impairment Tests
SIFCO performed its annual impairment test as of July 31, 2021 and 2020, respectively, for the Cleveland, Ohio ("Cleveland") reporting unit. Results determined that the fair value of the reporting unit exceeded the carrying value at each assessment date. No impairment charge as of September 30, 2021 and 2020, respectively.

Goodwill is expected to be deductible for tax purposes. Changes in the net carrying amount of goodwill were as follows:
Balance at September 30, 2019$3,493 
Goodwill impairment adjustment— 
  Currency translation— 
Balance at September 30, 20203,493 
  Goodwill impairment adjustment— 
  Currency translation— 
Balance at September 30, 2021$3,493