GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the three months ended September 30, 2024 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2024	$	923,523	$	(138,297)	$	785,226

Acquisitions(1)	3,243		—		3,243
Disposals and foreign currency changes, net	3,726		—		3,726
Impairments	—		—		—
Balances as of September 30, 2024	$	930,492	$	(138,297)	$	792,195

(1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting.

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 September 30, 2024:
Reacquired franchise rights	$	406,195	$	(232,023)	$	174,172
Customer relationships	334,067		(275,742)		58,325
Internally-developed software	122,731		(121,407)		1,324
Noncompete agreements	22,070		(19,705)		2,365
Purchased technology	70,100		(52,988)		17,112
Trade name	5,800		(3,045)		2,755
	$	960,963	$	(704,910)	$	256,053
As of June 30, 2024:
Reacquired franchise rights	$	403,955	$	(228,157)	$	175,798
Customer relationships	331,435		(270,245)		61,190
Internally-developed software	122,673		(119,610)		3,063
Noncompete agreements	21,977		(19,494)		2,483

Purchased technology	70,100		(51,432)		18,668
Trade name	5,800		(2,900)		2,900
	$	955,940	$	(691,838)	$	264,102

We made payments to acquire businesses totaling $5.9 million and $6.9 million during the three months ended September 30, 2024 and 2023, respectively. The amounts and weighted-average lives of intangible assets acquired during the three months ended September 30, 2024 are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)

Customer relationships	$	2,500	5
Reacquired franchise rights	2,191		5
Noncompete agreements	84		5
Total	$	4,775	5

Amortization of intangible assets for the three months ended September 30, 2024 was $12.9 million compared to $15.8 million for the three months ended September 30, 2023. Estimated amortization of intangible assets for fiscal years ending June 30, 2025, 2026, 2027, 2028, and 2029 is $44.1 million, $34.6 million, $27.9 million, $20.1 million and $12.0 million, respectively.