Goodwill and intangible assets

9 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill for the nine months ended March 31, 2025 are as follows:


	Diversified Industrial Segment		Aerospace Systems Segment		Total
Balance at June 30, 2024	$	7,607,429	$	2,900,004	$	10,507,433

Divestitures	(89,549)		—		(89,549)


Foreign currency translation	33,478		10,584		44,062
Balance at March 31, 2025	$	7,551,358	$	2,910,588	$	10,461,946

Divestitures relate to both CFC and a non-core filtration business. Refer to Note 4 for further discussion.

Goodwill is tested for impairment at the reporting unit level annually and between annual tests whenever events or circumstances indicate that the carrying value of a reporting unit may exceed its fair value. The Company performed its fiscal 2025 annual goodwill impairment test as of January 1, which indicated no impairment existed.

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:


	March 31, 2025				June 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Patents and technology	$	2,100,813	$	523,809	$	2,116,999	$	451,908
Trade names	1,014,874		473,713		1,041,633		441,382
Customer relationships and other	8,030,398		2,778,039		8,044,208		2,493,369
Total	$	11,146,085	$	3,775,561	$	11,202,840	$	3,386,659

Total intangible asset amortization expense for the nine months ended March 31, 2025 and 2024 was $414 million and $439 million, respectively. The estimated amortization expense for the five years ending June 30, 2025 through 2029 is $550 million, $545 million, $538 million, $531 million and $505 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 nine months ended March 31, 2025 and 2024.