Intangible Assets (Policies)

9 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets 

Intangible assets consisted of the following as of March 31, 2023 and June 30, 2022:

	Developed Technology		Trademarks		Customer Relationships and Backlog		Capitalized Software and Other		Total
	(Dollars in Thousands)
March 31, 2023:
Gross carrying amount	$	1,903,599	$	464,400	$	3,082,541	$	10,313	$	5,460,853
Less: Accumulated amortization	(296,950)		(12,708)		(361,807)		(8,744)		(680,209)
Net carrying amount	$	1,606,649	$	451,692	$	2,720,734	$	1,569	$	4,780,644
June 30, 2022:
Gross carrying amount	$	1,882,037	$	464,400	$	3,072,738	$	10,149	$	5,429,324
Less: Accumulated amortization	(153,758)		(9,379)		(144,888)		(8,518)		(316,543)
Net carrying amount	$	1,728,279	$	455,021	$	2,927,850	$	1,631	$	5,112,781

The increase in intangible assets from June 30, 2022 was primarily due to the Inmation acquisition. See Note 4, Acquisitions. Total intangible asset amortization expense was $121.7 million for the three months ended March 31, 2023, of which $99.5 million related to the Heritage AspenTech Transaction. Total intangible asset amortization expense was $364.2 million for the nine months ended March 31, 2023 of which, $297.4 million related to the Heritage AspenTech Transaction.