Other Intangible Assets
|9 Months Ended|
Jun. 26, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Other Intangible Assets||Other Intangible Assets
The following table summarizes the components of gross and net acquired intangible assets:
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 or nine months ended June 26, 2021, and accordingly, no impairment testing was performed on these assets.
The Company amortizes its acquired intangible assets with definite lives over periods ranging from three years to 25 years; over weighted average remaining lives of three years for marketing-related intangibles, eight years for customer-related intangibles and 10 yearsfor other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately $3.2 million and $3.4 million for the three months ended June 26, 2021 and June 27, 2020, respectively, and $9.9 million and $10.6 million for the nine months ended June 26, 2021 and June 27, 2020, 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 $12 million per year from fiscal 2021 through fiscal 2025 and thereafter.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef