Definite lived intangible assets are summarized as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2013 | | September 30, 2012 | | | | Cost | | Accumulated Amortization | | Net | | Cost | | Accumulated Amortization | | Net | | Amortizable Life | Customer relationships | $ | 879.4 |
| | $ | (147.9 | ) | | $ | 731.5 |
| | $ | 796.2 |
| | $ | (113.0 | ) | | $ | 683.2 |
| | 15 to 20 years | Trade names | 171.5 |
| | (41.2 | ) | | 130.3 |
| | 150.8 |
| | (28.3 | ) | | 122.5 |
| | 1 to 12 years | Technology assets | 175.5 |
| | (34.8 | ) | | 140.7 |
| | 91.0 |
| | (22.8 | ) | | 68.2 |
| | 4 to 17 years | | $ | 1,226.4 |
| | $ | (223.9 | ) | | $ | 1,002.5 |
| | $ | 1,038.0 |
| | $ | (164.1 | ) | | $ | 873.9 |
| | |
Amortization expense for definite lived intangible assets is as follows:
| | | | | | | | | | | | | | | | | | Three months ended | | Nine months ended | | June 30,
2013 | | July 1,
2012 | | June 30,
2013 | | July 1,
2012 | Customer relationships | $ | 11.6 |
| | $ | 10.1 |
| | $ | 33.3 |
| | $ | 30.0 |
| Trade names | 4.3 |
| | 3.6 |
| | 12.2 |
| | 9.8 |
| Technology assets | 4.4 |
| | 2.4 |
| | 12.0 |
| | 6.7 |
| | $ | 20.3 |
| | $ | 16.1 |
| | $ | 57.5 |
| | $ | 46.5 |
|
The Company estimates annual amortization expense of amortizable intangible assets for the next five fiscal years will approximate $78.5 per year. The weighted average amortization period for VOBA and DAC are approximately 4.9 and 7.7 years, respectively. Estimated amortization expense for VOBA and DAC in future fiscal periods is as follows:
| | | | | | | | | | | | Estimated Amortization Expense | Fiscal Year | | VOBA | | DAC | 2013 | | $ | 9.0 |
| | $ | 4.5 |
| 2014 | | 45.7 |
| | 22.3 |
| 2015 | | 43.7 |
| | 23.6 |
| 2016 | | 39.5 |
| | 22.9 |
| 2017 | | 33.0 |
| | 22.0 |
| 2018 and thereafter | | 159.8 |
| | 183.7 |
|
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