XML 28 R16.htm IDEA: XBRL DOCUMENT v3.22.4
Goodwill and Intangible Assets
 6 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized, but rather are tested for impairment at least annually during the fourth quarter, or when indicators of impairment exist.
Goodwill consisted of the following (in thousands):
 Goodwill
Balance as of June 30, 2022$722,838 
Effect of change in exchange rates391 
Balance as of December 31, 2022$723,229 
Intangible Assets
Intangible assets consisted of the following (in thousands):
December 31, 2022June 30, 2022Weighted-Average Remaining Useful Lives
(Years)
Acquired Developed Technology$234,618 $234,618 2
Patents, Trademarks, and Other Rights33,393 33,393 5
Customer Relationships129,502 129,502 5
Intangible assets, gross397,513 397,513 
Less: accumulated amortization(313,265)(296,673)
Intangible assets, net$84,248 $100,840 
Amortization expense for intangible assets were approximately $8.3 million and $8.0 million for the three months ended December 31, 2022 and 2021, respectively, and $16.6 million and $16.0 million for the six months ended December 31, 2022 and 2021, respectively.
The following tables presents the estimated future amortization expense related to intangible assets held as of December 31, 2022 (in thousands):
Fiscal Years:
Remainder of 2023$16,310 
202426,267 
202514,908 
202612,370 
20277,267 
Thereafter7,126 
Total future amortization expense$84,248