GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the six months ended December 31, 2021 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2021	$	892,818	$	(138,297)	$	754,521

Acquisitions	11,159		—		11,159
Disposals and foreign currency changes, net	(6,497)		—		(6,497)
Impairments	—		—		—
Balances as of December 31, 2021	$	897,480	$	(138,297)	$	759,183

We test goodwill for impairment annually as of February 1, or more frequently if events occur or circumstances change which would, more likely than not, reduce the fair value of a reporting unit below its carrying value.

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of December 31, 2021:
Reacquired franchise rights	$	377,512	$	(189,936)	$	187,576
Customer relationships	324,255		(267,158)		57,097
Internally-developed software	166,866		(129,406)		37,460
Noncompete agreements	41,494		(36,748)		4,746
Franchise agreements	19,201		(16,748)		2,453
Purchased technology	122,700		(81,825)		40,875
Trade name	5,800		(1,450)		4,350
	$	1,057,828	$	(723,271)	$	334,557










As of June 30, 2021:
Reacquired franchise rights	$	370,405	$	(182,366)	$	188,039
Customer relationships	316,547		(255,294)		61,253
Internally-developed software	160,315		(119,460)		40,855
Noncompete agreements	41,228		(35,802)		5,426
Franchise agreements	19,201		(16,108)		3,093
Purchased technology	122,700		(74,913)		47,787
Trade name	5,800		(1,160)		4,640

	$	1,036,196	$	(685,103)	$	351,093

We made payments to acquire businesses totaling $19.3 million and $12.2 million during the six months ended December 31, 2021 and 2020, respectively. The amounts and weighted-average lives of intangible assets acquired during the six months ended December 31, 2021, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Internally-developed software	$	6,640	3
Customer relationships	8,967		5
Reacquired franchise rights	7,420		5
Noncompete agreements	290		5
Total	$	23,317	4

Amortization of intangible assets for the three and six months ended December 31, 2021 was $19.4 million and $39.2 million, respectively, compared to $21.5 million and $41.4 million for the three and six months ended December 31, 2020, respectively. Estimated amortization of intangible assets for fiscal years ending June 30, 2022, 2023, 2024, 2025 and 2026 is $76.7 million, $62.6 million, $43.1 million, $23.0 million and $15.8 million, respectively.