
(in thousands)	Electrical		Safety & Infrastructure		Total
Balance as of September 30, 2024	$	261,284	$	52,716	$	314,000


Divestiture	(756)		—		(756)

Exchange rate effects	1,018		(71)		947
Balance as of June 27, 2025	$	261,546	$	52,645	$	314,191

Goodwill balances as of June 27, 2025 included $5,645 and $43,000 of accumulated impairment losses within the Electrical and Safety & Infrastructure segments, respectively.

The Company assesses the recoverability of goodwill and indefinite-lived trade names on an annual basis in accordance with ASC 350, “Intangibles - Goodwill and Other.” The measurement date is the first day of the fourth fiscal quarter, or more frequently, if events or circumstances indicate that it is more likely than not that the fair value of a reporting unit or the respective indefinite-lived trade name is less than the carrying value.

The following table provides the gross carrying value, accumulated amortization and net carrying value for each major class of intangible asset:


		June 27, 2025						September 30, 2024
(in thousands)	Weighted Average Useful Life (Years)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Customer relationships	10	$	450,645	$	(341,688)	$	108,957	$	600,317	$	(371,600)	$	228,717
Other	8	27,575		(20,766)		6,809		43,968		(25,067)		18,901
Total		478,220		(362,454)		115,766		644,285		(396,667)		247,618
Indefinite-lived intangible assets:
Trade names		92,800		—		92,800		92,813		—		92,813
Total		$	571,020	$	(362,454)	$	208,566	$	737,098	$	(396,667)	$	340,431

During the second quarter of fiscal 2025, the Company recorded non-cash impairment charges totaling $92,397 primarily related to customer relationships. Refer to Note 14 “Fair Value Measurements” for further discussion of the Company’s impairment review. As a result of the asset impairment charge, the book basis of the HDPE intangible assets was adjusted to the new fair value. This resulted in the elimination of previously accumulated amortization of $65,404, as well as an equivalent reduction in gross intangibles for an equal amount.

Other intangible assets consist of definite-lived trade names, technology, non-compete agreements and backlogs. Included in the table above are the effects of changes in exchange rates, which were not material for the nine months ended June 27, 2025. Amortization expense for the three months ended June 27, 2025 and June 28, 2024 was $10,108 and $13,216, respectively.

Expected amortization expense for intangible assets for the remainder of fiscal 2025 and over the next five years and thereafter is as follows:

Actual amounts of amortization may differ from estimated amounts due to additional intangible asset acquisitions, impairment of intangible assets and other events.