XML 523 R34.htm IDEA: XBRL DOCUMENT v3.23.2
Intangible Assets (Policies)
 12 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
Intangible assets consist of the following as of June 30, 2023 and 2022:

Developed TechnologyTrademarksCustomer Relationships and BacklogCapitalized Software and OtherTotal
June 30, 2023:(Dollars in Thousands)
Gross carrying amount$1,903,599 $464,400 $3,082,541 $11,526 $5,462,066 
Less: Accumulated amortization(341,964)(13,821)(437,673)(8,951)(802,409)
Net carrying amount$1,561,635 $450,579 $2,644,868 $2,575 $4,659,657 

Developed TechnologyTrademarksCustomer Relationships and BacklogCapitalized Software and OtherTotal
June 30, 2022:(Dollars in Thousands)
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 

Of the total intangible assets net carrying amount of $4.7 billion at June 30, 2023, $430.0 million relates to the registered trademarks associated with the Heritage AspenTech acquisition that are not subject to amortization.
The increase in the intangible asset gross carrying amount from June 30, 2022 was primarily due to the Inmation acquisition. See Note 4, “Acquisitions.” Total intangible asset amortization expense for fiscal 2023, 2022 and 2021 was $485.9 million, $116.7 million and $120.3 million, respectively. The significant increase in amortization expense for fiscal 2023 was due to a full year of amortization expense associated with the Heritage AspenTech acquisition.

Based on intangible asset balances as of June 30, 2023, expected future amortization expense is as follows:

Year Ended June 30,Amortization Expense
 (Dollars in Thousands)
2024$486,701 
2025473,317 
2026382,641 
2027382,083 
2028370,722 
Thereafter2,134,193 
Total$4,229,657