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INTANGIBLE ASSETS
12 Months Ended
Jun. 30, 2016
Intangible Assets [Abstract]  
INTANGIBLE ASSETS

NOTE 8. INTANGIBLE ASSETS

Intangible assets consisted of the following (in thousands):

 

 

 

June 30,

 

 

 

2016

 

 

2015

 

Intangible assets

 

 

 

 

 

 

 

 

Customer contracts and related customer relationships

 

$

635,826

 

 

$

520,213

 

Acquired technologies

 

 

28,074

 

 

 

27,177

 

Covenants not to compete

 

 

3,321

 

 

 

3,417

 

Other

 

 

1,551

 

 

 

1,581

 

Intangible assets

 

 

668,772

 

 

 

552,388

 

Less accumulated amortization

 

 

 

 

 

 

 

 

Customer contracts and related customer relationships

 

 

(363,412

)

 

 

(328,217

)

Acquired technologies

 

 

(25,693

)

 

 

(24,728

)

Covenants not to compete

 

 

(3,245

)

 

 

(3,241

)

Other

 

 

(1,050

)

 

 

(1,020

)

Accumulated amortization

 

 

(393,400

)

 

 

(357,206

)

Total intangible assets, net

 

$

275,372

 

 

$

195,182

 

Intangible assets are primarily amortized on an accelerated basis over periods ranging from one to fifteen years. The weighted-average period of amortization for customer contracts and related customer relationships as of June 30, 2016 is 14 years, and the weighted-average remaining period of amortization is 11.9 years. The weighted-average period of amortization for acquired technologies as of June 30, 2016 is 10 years, and the weighted-average remaining period of amortization is 5.6 years.

Amortization expense for the years ended June 30, 2016, 2015 and 2014 was $38.0 million, $39.5 million, and $38.6 million, respectively. Expected amortization expense for each of the fiscal years through June 30, 2021 and for years thereafter is as follows (in thousands):

 

 

 

Amount

 

Year ending June 30, 2017

 

$

40,631

 

Year ending June 30, 2018

 

 

36,134

 

Year ending June 30, 2019

 

 

31,507

 

Year ending June 30, 2020

 

 

27,045

 

Year ending June 30, 2021

 

 

23,843

 

Thereafter

 

 

116,212

 

Total intangible assets, net

 

$

275,372