Goodwill and intangible assets

3 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the three months ended September 30, 2021 are as follows:


	Diversified Industrial Segment		Aerospace Systems Segment		Total
Balance at June 30, 2021	$	7,457,309	$	602,378	$	8,059,687



Foreign currency translation and other	(50,340)		(7)		(50,347)
Balance at September 30, 2021	$	7,406,969	$	602,371	$	8,009,340

Intangible assets are amortized using the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets:


	September 30, 2021				June 30, 2021
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents and technology	$	997,890	$	227,415	$	999,952	$	216,314
Trademarks	757,627		338,001		762,130		331,905
Customer lists and other	3,847,159		1,610,720		3,869,772		1,563,838
Total	$	5,602,676	$	2,176,136	$	5,631,854	$	2,112,057

Total intangible amortization expense for the three months ended September 30, 2021 and 2020 was $80 million and $82 million, respectively. The estimated amortization expense for the five years ending June 30, 2022 through 2026 is $320 million, $305 million, $298 million, $288 million and $282 million, respectively.

Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value. No material intangible asset impairments occurred during the three months ended September 30, 2021 and 2020.