Goodwill

6 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note (12) – Goodwill: The changes in the carrying amount of goodwill are as follows (in thousands):

Balance at June 30, 2020	$	56,678
Goodwill from acquisitions (1)		7,054
Working capital adjustments (2)		(27	)
Balance at December 31, 2020	$	63,705

(1)

Relates to the YES Acquisition which was consummated during November 2020, as described in Note 4, “Acquisitions.”

(2)

Relates to working capital adjustments from business acquisitions consummated by the Company during the fiscal year ended June 30, 2020. The purchase price allocations from the Company’s acquisitions of Large Equipment, Inc. (d/b/a Laundry Systems of Tennessee) and TN Ozone, Inc. (d/b/a Premier Laundry Solutions and Premier Equipment Rental), which were acquired on January 31, 2020, and Commercial Laundry Equipment Company, Inc., which was acquired on February 28, 2020, are still considered preliminary as the Company is continuing its assessment of certain working capital items.