Goodwill and Intangible Assets

9 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets

Goodwill and Amortizable Intangible Assets

During the first quarter of fiscal year 2020, the Company performed its annual impairment test of goodwill. As the Company’s one reporting unit had a negative carrying value of net assets, there was no impairment of goodwill identified.

The Company’s intangible assets subject to amortization are as follows: 

	March 31, 2020			June 30, 2019
Affiliate relationships	$	83,044		$	83,044
Less: accumulated amortization	(51,896		)	(49,301		)
	$	31,148		$	33,743

Affiliate relationships have an estimated useful life of 24 years. Amortization expense for intangible assets was $865 for the three months ended March 31, 2020 and 2019, and $2,595 for the nine months ended March 31, 2020 and 2019.