Goodwill and Intangible Assets

6 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets

3. Goodwill and Intangible Assets

The Company’s intangible assets by major asset class subject to amortization consist of:

March 31, 2013	Estimated Useful Life		Original Cost		Accumulated Amortization		Net Book Value
Intangible assets:
Trade name		10 years	$	1,900	$	349	$	1,551
Non-compete agreement		5 years		1,500		514		986
Below market lease		5 years		900		415		485
Customer relationships		10 years		13,000		2,447		10,553
Order backlog		1 year		2,100		2,100		0
Total intangible assets			$	19,400	$	5,825	$	13,575

September 30, 2012	Estimated Useful Life		Original Cost		Accumulated Amortization		Net Book Value
Intangible assets:
Trade name		10 years	$	1,900	$	254	$	1,646
Non-compete agreement		5 years		1,500		364		1,136
Below market lease		5 years		900		325		575
Customer relationships		10 years		13,000		1,796		11,204
Order backlog		1 year		2,100		2,034		66
Total intangible assets			$	19,400	$	4,773	$	14,627

The amortization expense on identifiable intangible assets for the six months ended March 31, 2013 and 2012 was $1,052 and $1,477, respectively. Amortization expense associated with the identified intangible assets, all of which relates to the Forged Components Group, is expected to be as follows:

	Amortization Expense
Fiscal year 2013	$	2,037
Fiscal year 2014		1,970
Fiscal year 2015		1,970
Fiscal year 2016		1,744
Fiscal year 2017		1,507

The Company’s goodwill, all of which relates to the Forged Components Group, is not being amortized and is subject to annual impairment tests. All of the goodwill is expected to be deductible for tax purposes.