Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangibles, Net (Tables)

v3.24.1.u1
Goodwill and Other Intangibles, Net (Tables)
6 Months Ended
Mar. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill

The following table details the changes in goodwill (in thousands):

 

 

 

March 30, 2024

 

 

September 30, 2023

 

 

April 1, 2023

 

Balance at beginning of the period

 

$

180,698

 

 

$

173,513

 

 

$

173,513

 

Acquisitions, net of measurement period adjustments

 

 

 

 

 

7,185

 

 

 

2,831

 

Balance at the end of the period

 

$

180,698

 

 

$

180,698

 

 

$

176,344

 

Summary of Other Intangible Assets

Other intangible assets consisted of the following as of March 30, 2024 (in thousands, except weighted average remaining useful life):

 

 

Weighted
Average
Remaining
Useful Life
(in Years)

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Trade name and trademarks (finite life)

 

 

9.4

 

 

$

22,100

 

 

$

(4,350

)

 

$

17,750

 

Trade name and trademarks (indefinite life)

 

Indefinite

 

 

 

9,350

 

 

 

 

 

 

9,350

 

Non-compete agreements

 

 

4.9

 

 

 

2,260

 

 

 

(1,265

)

 

 

995

 

Consumer relationships

 

 

7.0

 

 

 

15,400

 

 

 

(7,332

)

 

 

8,068

 

Other intangibles

 

 

4.6

 

 

 

4,000

 

 

 

(3,888

)

 

 

112

 

Total

 

 

 

 

$

53,110

 

 

$

(16,835

)

 

$

36,275

 

 

Other intangible assets consisted of the following as of September 30, 2023 (in thousands, except weighted average remaining useful life):

 

 

Weighted
Average
Remaining
Useful Life
(in Years)

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Trade name and trademarks (finite life)

 

 

9.8

 

 

$

26,740

 

 

$

(7,958

)

 

$

18,782

 

Trade name and trademarks (indefinite life)

 

Indefinite

 

 

 

9,350

 

 

 

 

 

 

9,350

 

Non-compete agreements

 

 

5.4

 

 

 

8,683

 

 

 

(7,585

)

 

 

1,098

 

Consumer relationships

 

 

7.4

 

 

 

24,100

 

 

 

(15,317

)

 

 

8,783

 

Other intangibles

 

 

5.1

 

 

 

6,620

 

 

 

(6,476

)

 

 

144

 

Total

 

 

 

 

$

75,493

 

 

$

(37,336

)

 

$

38,157

 

 

Other intangible assets consisted of the following as of April 1, 2023 (in thousands, except weighted average remaining useful life):

 

 

Weighted
Average
Remaining
Useful Life
(in Years)

 

 

Gross
Carrying
Value

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Trade name and trademarks (finite life)

 

 

10.3

 

 

$

26,740

 

 

$

(6,915

)

 

$

19,825

 

Trade name and trademarks (indefinite life)

 

Indefinite

 

 

 

9,350

 

 

 

 

 

 

9,350

 

Non-compete agreements

 

 

5.9

 

 

 

8,683

 

 

 

(7,482

)

 

 

1,201

 

Consumer relationships

 

 

7.6

 

 

 

24,100

 

 

 

(14,419

)

 

 

9,681

 

Other intangibles

 

 

5.6

 

 

 

6,620

 

 

 

(6,427

)

 

 

193

 

Total

 

 

 

 

$

75,493

 

 

$

(35,243

)

 

$

40,250

 

Summary of Estimated Future Amortization Expense Related to Finite-Lived Intangible Assets

The following table summarizes the estimated future amortization expense related to finite-lived intangible assets on our condensed consolidated balance sheet as of March 30, 2024 (in thousands):

 

 

Amount

 

Remainder of fiscal 2024

 

$

1,846

 

2025

 

 

3,632

 

2026

 

 

3,385

 

2027

 

 

3,262

 

2028

 

 

3,154

 

Thereafter

 

 

11,646

 

Total

 

$

26,925