XML 79 R16.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Goodwill and Intangible Assets
6 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Changes in goodwill for the six months ended December 31, 2019 were as follows:
 
CDKNA
 
CDKI
 
Total
Balance as of June 30, 2019
$
1,000.3

 
$
356.0

 
$
1,356.3

Currency translation adjustments
0.2

 
7.8

 
8.0

Balance as of December 31, 2019
$
1,000.5

 
$
363.8

 
$
1,364.3

The Company performs its annual impairment testing for goodwill balances as of April 1 each year; however, the Company may test for impairment between annual tests if an event occurs or circumstances change that indicate that the fair value of the reporting unit may fall below its carrying amount. During the first six month of fiscal 2020, there were no events or changes in circumstances that indicated a need to reassess impairment before the annual test date.
Components of intangible assets, net from continuing operations were as follows:
 
December 31, 2019
 
June 30, 2019
 
Original Cost
 
Accumulated Amortization
 
Intangible Assets, net
 
Original Cost
 
Accumulated Amortization
 
Intangible Assets, net
Software
$
277.4

 
$
(141.5
)
 
$
135.9

 
$
250.8

 
$
(126.7
)
 
$
124.1

Customer lists
197.3

 
(105.3
)
 
92.0

 
196.6

 
(100.2
)
 
96.4

Trademarks
7.5

 
(3.4
)
 
4.1

 
7.5

 
(3.1
)
 
4.4

Other intangibles
3.2

 
(2.5
)
 
0.7

 
3.2

 
(2.2
)
 
1.0

 
$
485.4

 
$
(252.7
)
 
$
232.7

 
$
458.1

 
$
(232.2
)
 
$
225.9


Other intangibles primarily consist of purchased rights, covenants, and patents (acquired directly or through acquisitions). All of the intangible assets have finite lives and, as such, are subject to amortization. The weighted-average remaining useful life of intangible assets is 7 years (3 years for software and software licenses, 13 years for customer lists, and 6 years for trademarks).
Amortization of intangible assets was $10.7 million and $9.2 million for the three months ended December 31, 2019 and 2018, respectively, and $20.1 million and $14.8 million for the six months ended December 31, 2019 and 2018, respectively. During the six months ended December 31, 2018, in addition to the amortization of intangible assets, the Company recorded impairment charges of $14.9 million.
Estimated amortization expenses of the Company's intangible assets as of December 31, 2019 were as follows:
 
Amount
Six months ending June 30, 2020
$
19.6

Twelve months ending June 30, 2021
44.8

Twelve months ending June 30, 2022
44.4

Twelve months ending June 30, 2023
31.6

Twelve months ending June 30, 2024
18.5

Twelve months ending June 30, 2025
13.2

Thereafter
60.6

 
$
232.7