Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v3.10.0.1
Goodwill and Intangible Assets
 9 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
Goodwill and Intangible Assets
Components of intangible assets consist of the following (in thousands):
 
June 30, 2018
 
September 30, 2017
 
 
 
Cost
Accumulated Amortization
Net Value
 
Cost
Accumulated Amortization
Net Value
 
Economic Life
 
 
 
 
 
 
 
 
 
 
Goodwill
$
30,417

$
—

$
30,417

 
$
19,917

$
—

$
19,917

 
N/A
 
 
 
 
 
 
 
 
 
 
Intangibles:
 
 
 
 
 
 
 
 
 
Tradename/trademarks
$
16,090

$
(2,601
)
$
13,489

 
$
16,090

$
(2,193
)
$
13,897

 
20 – 30 yrs
Customer relationships
4,500

(141
)
4,359

 
—

—

—

 
8 – 10 yrs
Technology
1,720

(1,058
)
662

 
1,220

(947
)
273

 
10 yrs
License agreements
2,100

(500
)
1,600

 
2,100

(423
)
1,677

 
15 – 30 yrs
Non-compete agreements
1,637

(870
)
767

 
1,037

(733
)
304

 
4 – 8.5 yrs
Total intangibles
$
26,047

$
(5,170
)
$
20,877

 
$
20,447

$
(4,296
)
$
16,151

 
 


Goodwill represents the acquired goodwill net of the cumulative impairment losses recorded in fiscal year 2011 of $0.6 million. The goodwill recorded on our financial statements is included in both the basics and branded segment. Basics segment includes $10.5 million of goodwill, and the branded segment includes $19.9 million.
On March 9, 2018, we acquired substantially all of the assets of Teeshirt Ink, Inc. d/b/a DTG2Go. See Note D—Acquisitions. We have identified certain intangible assets associated with the acquisition, including technology, customer relationships, non-compete agreements and goodwill. While we are still in the process of finalizing the valuations of the intangible assets acquired, we provisionally valued goodwill associated with DTG2Go at $10.5 million, and technology, customer relationships, and non-compete agreements at $5.6 million.
Amortization expense for intangible assets was $0.4 million for the three-month period ended June 30, 2018, and $0.2 million for the three-month period ended July 1, 2017. Amortization expense for both of the nine-month periods ended June 30, 2018, and July 1, 2017, was $0.9 million. Amortization expense is estimated to be approximately $1.3 million for fiscal year 2018, $1.5 million for fiscal year 2019, $1.4 million for fiscal year 2020, and $1.3 million for each of fiscal years 2021 and 2022.