Quarterly report pursuant to Section 13 or 15(d)

Other Intangible Assets

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Other Intangible Assets
3 Months Ended
Dec. 25, 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:
Gross Accumulated
Amortization
Accumulated
Impairment
Net
Carrying
Value
  (in millions)
December 25, 2021
Marketing-related intangible assets – amortizable $ 22.1  $ (19.4) $ —  $ 2.6 
Marketing-related intangible assets – nonamortizable 70.6  —  (26.0) 44.6 
Total 92.7  (19.4) (26.0) 47.2 
Customer-related intangible assets – amortizable 143.6  (78.3) (2.5) 62.8 
Other acquired intangible assets – amortizable 37.2  (22.9) —  14.3 
Other acquired intangible assets – nonamortizable 7.1  —  (1.2) 5.9 
Total 44.3  (22.9) (1.2) 20.2 
Total other intangible assets, net $ 280.6  $ (120.6) $ (29.8) $ 130.2 
  Gross Accumulated
Amortization
Accumulated
Impairment
Net
Carrying
Value
  (in millions)
December 26, 2020
Marketing-related intangible assets – amortizable $ 20.6  $ (17.8) $ —  $ 2.8 
Marketing-related intangible assets – nonamortizable 70.6  —  (26.0) 44.6 
Total 91.2  (17.8) (26.0) 47.4 
Customer-related intangible assets – amortizable 140.3  (66.8) (2.5) 71.0 
Other acquired intangible assets – amortizable 26.0  (18.7) —  7.3 
Other acquired intangible assets – nonamortizable 7.1  —  (1.2) 5.9 
Total 33.1  (18.7) (1.2) 13.2 
Total other intangible assets, net $ 264.6  $ (103.3) $ (29.8) $ 131.6 
  Gross Accumulated
Amortization
Accumulated
Impairment
Net
Carrying
Value
  (in millions)
September 25, 2021
Marketing-related intangible assets – amortizable $ 22.1  $ (19.0) $ —  $ 3.1 
Marketing-related intangible assets – nonamortizable 70.6  —  (26.0) 44.6 
Total 92.7  (19.0) (26.0) 47.7 
Customer-related intangible assets – amortizable 143.6  (75.4) (2.5) 65.7 
Other acquired intangible assets – amortizable 37.2  (22.0) —  15.2 
Other acquired intangible assets – nonamortizable 7.1  —  (1.2) 5.9 
Total 44.3  (22.0) (1.2) 21.1 
Total other intangible assets, net $ 280.6  $ (116.4) $ (29.8) $ 134.4 
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 months ended December 25, 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 two years to 25 years; over weighted average remaining lives of two years for marketing-related intangibles, seven years for customer-related intangibles and six years
for other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately and $4.2 million and $3.4 million for the three months ended December 25, 2021 and December 26, 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 $14 million per year from fiscal 2022 through fiscal 2026 and thereafter.