Goodwill and intangible assets

3 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

Goodwill and intangible assets

The changes in the carrying amount of goodwill for the three months ended September 30, 2024 are as follows:

	Diversified Industrial Segment		Aerospace Systems Segment		Total
Balance at June 30, 2024	$	7,607,429	$	2,900,004	$	10,507,433
Goodwill reclassified to held for sale	(66,504)		—		(66,504)
Foreign currency translation	147,908		36,450		184,358
Balance at September 30, 2024	$	7,688,833	$	2,936,454	$	10,625,287

Goodwill reclassified to held for sale relates to the CFC business. Refer to Note 4 for further discussion.

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, 2024				June 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents and technology	$	2,119,691	$	479,655	$	2,116,999	$	451,908
Trade names	1,036,737		459,978		1,041,633		441,382
Customer relationships and other	8,162,707		2,632,269		8,044,208		2,493,369
Total	$	11,319,135	$	3,571,902	$	11,202,840	$	3,386,659

Total intangible asset amortization expense for the three months ended September 30, 2024 and 2023 was $140 million and $156 million, respectively. The estimated amortization expense for the five years ending June 30, 2025 through 2029 is $550 million, $550 million, $547 million, $540 million and $511 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, 2024 and 2023.