INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2021

Finite Lived Intangible Assets Net [Abstract]

NOTE 7. INTANGIBLE ASSETS

Intangible assets consisted of the following (in thousands):

	June 30,
	2021 (1)			2020
Intangible assets
Customer contracts and related customer relationships	$	601,509		$	570,562
Acquired technologies		198,273			129,925
Other		7			8
Intangible assets		799,789			700,495
Less accumulated amortization
Customer contracts and related customer relationships		(276,496	)		(271,708	)
Acquired technologies		(47,185	)		(21,900	)
Other		(2	)		(2	)
Accumulated amortization		(323,683	)		(293,610	)
Total intangible assets, net	$	476,106		$	406,885

(1)

During FY2021, the Company removed $38.2 million in fully amortized intangible assets.

Intangible assets are primarily amortized on an accelerated basis over periods ranging from one to twenty years. The weighted-average period of amortization for customer contracts and related customer relationships as of June 30, 2021 is 17.8 years, and the weighted-average remaining period of amortization is 14.2 years. The weighted-average period of amortization for acquired technologies as of June 30, 2021 is 10.6 years, and the weighted-average remaining period of amortization is 8.8 years.

Amortization expense for the years ended June 30, 2021, 2020 and 2019 was $67.5 million, $59.3 million and $45.8 million, respectively. Expected amortization expense for each of the fiscal years through June 30, 2026 and for years thereafter is as follows (in thousands):

	Amount
Year ending June 30, 2022	$	68,594
Year ending June 30, 2023		65,164
Year ending June 30, 2024		57,811
Year ending June 30, 2025		50,551
Year ending June 30, 2026		42,939
Thereafter		191,047
Total intangible assets, net	$	476,106