Goodwill

3 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

In accordance with FASB ASC 350, Intangibles-Goodwill and Other (“ASC 350”), the Company determines its reporting units based upon whether discrete financial information is available, if management regularly reviews the operating results of the component, the nature of the products offered to customers and the market characteristics of each reporting unit. A reporting unit is considered to be an operating segment or one level below an operating segment also known as a component. Component level financial information is reviewed by management across two divisions: Processing and Microelectronics. Accordingly, these were determined to be the Company's reporting units.

The following table sets forth the changes in the carrying amount of goodwill for the first quarter ended September 30, 2022:

	Total
Balance at July 1, 2022	$	937,880
Goodwill adjustment for the Avalex acquisition	4
Balance at September 30, 2022	$	937,884

The Company performs its annual goodwill impairment test in the fourth quarter of each fiscal year.