Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets

v3.24.3
Goodwill and Other Intangible Assets
 12 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The following presents goodwill activity during the fiscal years ended September 30, 2024 and 2023 (in thousands):
Balance at September 30, 2022 $ 129,465 
Additions 29,589 
Dispositions (2,383)
    Measurement period adjustments 2,599 
Balance at September 30, 2023 159,270 
Additions 70,954 
    Measurement period adjustments 1,432 
Balance at September 30, 2024 $ 231,656 
The additions in goodwill as of September 30, 2024 compared to September 30, 2023 were attributable to $71.0 million for business acquisitions (see Note 4 - Business Acquisitions) completed during the fiscal year ended September 30, 2024 and an increase of $1.4 million for measurement period adjustments that were finalized for acquisitions completed during the fiscal year ended September 30, 2023.
A summary of other intangible assets at September 30, 2024 and 2023 is as follows (in thousands):
September 30,
2024 2023
Weighted Average Life Gross Value Accumulated
Amortization		 Net Book
Value		 Gross Value Accumulated
Amortization		 Net Book
Value
Indefinite-lived:
Trade name licenses Indefinite $ 5,300  N/A $ 5,300  $ 5,300  N/A $ 5,300 
Finite-lived:
Customer relationship 13 years 15,673  (3,806) 11,867  14,745  (2,598) 12,147 
Other 6 years 5,670  (2,288) 3,382  3,420  (1,347) 2,073 
Total intangible assets $ 26,643  $ (6,094) $ 20,549  $ 23,465  $ (3,945) $ 19,520 
The change in gross value of other intangible assets as of September 30, 2024 compared to September 30, 2023 is attributable to $3.2 million of business acquisitions (see Note 4 - Business Acquisitions) completed during the fiscal year ended September 30, 2024, and the weighted average life of the acquired intangible assets is six years.
Total amortization expense related to finite-lived intangible assets was $2.2 million, $2.4 million and $0.8 million for the fiscal years ended September 30, 2024, 2023 and 2022, respectively.
Estimated future total amortization expense related to finite-lived intangible assets is as follows (in thousands):
Fiscal Year Estimated Amortization Expense
2025 $ 2,202 
2026 2,006 
2027 1,857 
2028 1,566 
2029 1,418 
Thereafter 6,200 
   Total $ 15,249