Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

NOTE 9 – GOODWILL AND INTANGIBLE ASSETS

Goodwill

The goodwill of $1.8 billion is primarily attributable to expected synergies from the acquisition and is not deductible for U.S. federal and state income tax purposes.

Intangible Assets

Intangible assets consisted of the following as of June 30, 2021 (amounts in thousands):

	Preliminary fair value		Accumulated amortization			Net Carrying Amount		Weighted- average remaining useful life (in years)
Customer relationships	$	198,000	$	(2,062	)	$	195,938	9.9
Developed technology		191,000		(2,653	)		188,347	5.9
Trade name		34,000		(944	)		33,056	2.9
Total	$	423,000	$	(5,659	)	$	417,341	7.5

Amortization of finite-lived intangible assets was as follows during the year ended June 30, 2021 (in thousands):

Cost of revenue	$	2,653
Sales and marketing		3,006
Total	$	5,659

As of June 30, 2021, future amortization of finite-lived intangible assets that will be recorded in cost of revenue and operating expenses is estimated as follows (in thousands):

Fiscal years ending June 30:	Amount
2022	$	62,552
2023		62,964
2024		62,036
2025		51,636
2026		51,636
Thereafter		126,517
Total	$	417,341