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GOODWILL AND INTANGIBLE ASSETS
6 Months Ended
Dec. 31, 2011
GOODWILL AND INTANGIBLE ASSETS  
GOODWILL AND INTANGIBLE ASSETS

 

 

3.             GOODWILL AND INTANGIBLE ASSETS

 

Intangible assets consist of the following:

 

 

 

 

 

December 31, 2011

 

June 30, 2011

 

 

 

Useful
Life
(Years)

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net
Carrying
Amount

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Net
Carrying
Amount

 

 

 

(dollars in 000s)

 

Computer software

 

3 - 9

 

$

37,636

 

$

(33,252

)

$

4,384

 

$

36,725

 

$

(31,841

)

$

4,884

 

License rights

 

3 - 13

 

8,656

 

(3,593

)

5,063

 

4,344

 

(2,751

)

1,593

 

Trademarks

 

5 - 9

 

2,345

 

(2,204

)

141

 

2,203

 

(2,203

)

 

Core technology

 

5 - 14

 

23,763

 

(16,070

)

7,693

 

22,763

 

(14,107

)

8,656

 

Contracts

 

5 - 10

 

15,430

 

(7,933

)

7,497

 

15,303

 

(7,372

)

7,931

 

Other intangibles

 

3 - 5

 

4,047

 

(527

)

3,520

 

5,337

 

(1,036

)

4,301

 

Total finite lived intangible assets

 

 

 

$

91,877

 

$

(63,579

)

$

28,298

 

$

86,675

 

$

(59,310

)

$

27,365

 

Trademark

 

indefinite

 

7,500

 

 

7,500

 

7,500

 

 

7,500

 

Total

 

 

 

$

99,377

 

$

(63,579

)

$

35,798

 

$

94,175

 

$

(59,310

)

$

34,865

 

 

Total amortization expense related to finite lived intangible assets was $2.5 million for both the three months ended December 31, 2011 and 2010, respectively, which included computer software amortization expense of $0.6 million and $0.9 million for the three months ended December 31, 2011 and 2010, respectively. Total amortization expense related to finite lived intangible assets was $4.9 million and $5.1 million for the six months ended December 31, 2011 and 2010, respectively, which included computer software amortization expense of $1.2 million and $2.0 million for the six months ended December 31, 2011 and 2010, respectively. Future amortization of finite lived intangible assets is scheduled as follows:

 

Year Ended June 30,

 

(in 000s)

 

2012 (remaining six months of fiscal year)

 

$

6,423

 

2013

 

10,253

 

2014

 

5,752

 

2015

 

2,610

 

2016

 

1,719

 

Thereafter

 

1,541

 

Total

 

$

28,298

 

 

All goodwill is associated with continuing operations. The changes in the carrying amount of goodwill for the six months ended December 31, 2011, are as follows:

 

 

 

(in 000s)

 

Balance at June 30, 2011

 

$

162,110

 

Additions

 

7,131

 

Foreign currency translation adjustment

 

(632

)

Balance at December 31, 2011

 

$

168,609

 

 

In July 2011, the Company acquired substantially all of the assets and liabilities of MacroView Labs. No impairment charges for goodwill and intangible assets were necessary for the three and six months ended December 31, 2011 and 2010, respectively.