Quarterly report pursuant to Section 13 or 15(d)

Other Intangible Assets

v3.8.0.1
Other Intangible Assets
 3 Months Ended
Dec. 30, 2017
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:
 
 
Gross
 
Accumulated
Amortization
 
Accumulated
Impairment
 
Net
Carrying
Value
 
 
 
 
 
 
(in millions)
 
 
December 30, 2017
 
 
 
 
 
 
 
 
Marketing-related intangible assets – amortizable
 
$
16.9

 
$
(13.1
)
 
$
—

 
$
3.8

Marketing-related intangible assets – nonamortizable
 
62.7

 
—

 
(26.0
)
 
36.7

Total
 
79.6

 
(13.1
)
 
(26.0
)
 
40.5

Customer-related intangible assets – amortizable
 
91.6

 
(33.9
)
 
—

 
57.7

Other acquired intangible assets – amortizable
 
22.1

 
(13.2
)
 
—

 
8.9

Other acquired intangible assets – nonamortizable
 
7.8

 
—

 
(1.2
)
 
6.6

Total
 
29.9

 
(13.2
)
 
(1.2
)
 
15.5

Total other intangible assets
 
$
201.1

 
$
(60.1
)
 
$
(27.2
)
 
$
113.7

 
 
Gross
 
Accumulated
Amortization
 
Accumulated
Impairment
 
Net
Carrying
Value
 
 
 
 
 
 
(in millions)
 
 
December 24, 2016
 
 
 
 
 
 
 
 
Marketing-related intangible assets – amortizable
 
$
14.9

 
$
(11.5
)
 
$
—

 
$
3.4

Marketing-related intangible assets – nonamortizable
 
62.8

 
—

 
(26.0
)
 
36.8

Total
 
77.7

 
(11.5
)
 
(26.0
)
 
40.2

Customer-related intangible assets – amortizable
 
64.3

 
(27.0
)
 
—

 
37.3

Other acquired intangible assets – amortizable
 
20.8

 
(11.9
)
 
—

 
8.9

Other acquired intangible assets – nonamortizable
 
7.7

 
—

 
(1.2
)
 
6.5

Total
 
28.5

 
(11.9
)
 
(1.2
)
 
15.4

Total other intangible assets
 
$
170.5

 
$
(50.4
)
 
$
(27.2
)
 
$
92.9

 
 
Gross
 
Accumulated
Amortization
 
Accumulated
Impairment
 
Net
Carrying
Value
 
 
 
 
 
 
(in millions)
 
 
September 30, 2017
 
 
 
 
 
 
 
 
Marketing-related intangible assets – amortizable
 
$
16.9

 
$
(12.7
)
 
$
—

 
$
4.2

Marketing-related intangible assets – nonamortizable
 
62.7

 
—

 
(26.0
)
 
36.7

Total
 
79.6

 
(12.7
)
 
(26.0
)
 
40.9

Customer-related intangible assets – amortizable
 
91.6

 
(32.2
)
 
—

 
59.4

Other acquired intangible assets – amortizable
 
22.1

 
(12.9
)
 
—

 
9.2

Other acquired intangible assets – nonamortizable
 
7.8

 
—

 
(1.2
)
 
6.6

Total
 
29.9

 
(12.9
)
 
(1.2
)
 
15.8

Total other intangible assets
 
$
201.1

 
$
(57.8
)
 
$
(27.2
)
 
$
116.1


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. Other factors indicating the carrying value of the Company’s amortizable intangible assets may not be recoverable were not present in fiscal 2017 or during the three months ended December 30, 2017, and accordingly, no impairment testing was performed on these assets.
The Company amortizes its acquired intangible assets with definite lives over periods ranging from 3 to 25 years; over weighted average remaining lives of 4 years for marketing-related intangibles, 10 years for customer-related intangibles and 11 years for other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately $2.3 million and $1.4 million for the three months ended December 30, 2017 and December 24, 2016, respectively, and is classified within operating 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 $8 million per year from fiscal 2018 through fiscal 2022
.