Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.5.0.2
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS:

Changes to goodwill during the years ended September 30, 2016 and 2015, follow.
 
SGK Brand Solutions
 
Memorialization
 
Industrial Technologies
 
Consolidated
Goodwill
$
501,050

 
$
278,282

 
$
50,887

 
$
830,219

Accumulated impairment losses
(5,752
)
 
(5,000
)
 
—

 
(10,752
)
Balance at September 30, 2014
495,298

 
273,282

 
50,887

 
819,467

 
 
 
 
 
 
 
 
Additions during period
250

 
73,623

 
2,226

 
76,099

Translation and other adjustments
(34,653
)
 
(4,959
)
 
(226
)
 
(39,838
)
Goodwill
466,647

 
346,946

 
52,887

 
866,480

Accumulated impairment losses
(5,752
)
 
(5,000
)
 
—

 
(10,752
)
Balance at September 30, 2015
460,895

 
341,946

 
52,887

 
855,728

 
 
 
 
 
 
 
 
Additions during period
—

 
—

 
3,958

 
3,958

Translation and other adjustments
(8,137
)
 
170

 
(230
)
 
(8,197
)
Goodwill
458,510

 
347,116

 
56,615

 
862,241

Accumulated impairment losses
(5,752
)
 
(5,000
)
 
—

 
(10,752
)
Balance at September 30, 2016
$
452,758

 
$
342,116

 
$
56,615

 
$
851,489



The Company performed its annual impairment review of goodwill in the second quarter of fiscal 2016 and determined that estimated fair value for all reporting units exceeded carrying value, therefore no adjustments to the carrying value of goodwill were necessary.

In fiscal 2016, the addition to Industrial Technologies goodwill reflects the acquisition of DDI.

In fiscal 2015, the addition to Memorialization goodwill primarily reflects the acquisition of Aurora, and the addition to Industrial Technologies goodwill primarily reflects the acquisition of a small printing products business. The amount reflected in translation and other adjustments for the SGK Brand Solutions segment includes the impact of purchase price adjustments.

In fiscal 2014, the addition to goodwill primarily reflects the acquisition of Schawk.
The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of September 30, 2016 and 2015, respectively.

 
Carrying
Amount
 
Accumulated
Amortization
 
Net
September 30, 2016
 
 
 
 
 
Trade names
$
168,467

 
$
—

*
$
168,467

Trade names
1,814

 
(1,802
)
 
12

Customer relationships
286,595

 
(61,706
)
 
224,889

Copyrights/patents/other
11,066

 
(10,593
)
 
473

 
$
467,942

 
$
(74,101
)
 
$
393,841

 
 
 
 
 
 
September 30, 2015
 

 
 

 
 

Trade names
$
168,467

 
$
—

*
$
168,467

Trade names
1,815

 
(1,718
)
 
97

Customer relationships
296,689

 
(51,393
)
 
245,296

Copyrights/patents/other
11,389

 
(10,249
)
 
1,140

 
$
478,360

 
$
(63,360
)
 
$
415,000

*Not subject to amortization
 

 
 

 
 



The net change in intangible assets during fiscal 2016 included the impact of foreign currency fluctuations during the period, additional amortization, and additions related to the DDI acquisition.

Amortization expense on intangible assets was $20,821, $18,800, and $7,318 in fiscal 2016, 2015 and 2014, respectively. Fiscal year amortization expense is estimated to be $20,476 in 2017, $19,162 in 2018, $18,120 in 2019, $17,008 in 2020 and $16,252 in 2021.