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INTANGIBLE ASSETS
9 Months Ended
Mar. 31, 2016
INTANGIBLE ASSETS

NOTE 10 — INTANGIBLE ASSETS

The components of intangible assets, all of which are finite-lived, were as follows:

 

(In millions)    Gross
Carrying
Amount
   

Accumulated
Amortization

   

Net

Carrying
Amount

    Gross
Carrying
Amount
   

Accumulated
Amortization

   

Net

Carrying
Amount

 


    

March 31,

2016

   

June 30,

2015

 

Technology-based (a)

   $ 6,169              $ (3,532   $ 2,637      $ 5,926              $ (3,149   $ 2,777   

Marketing-related

     1,936                 (631     1,305        1,942                 (508     1,434   

Contract-based

     1,177                 (757     420        1,192                 (710     482   

Customer-related

     469                 (372     97        492                 (350     142   


          


 


 


          


 


Total

   $   9,751               $   (5,292   $   4,459      $   9,552               $   (4,717   $   4,835   
    


          


 


 


          


 


 

(a)

Technology-based intangible assets included $128 million and $116 million as of March 31, 2016 and June 30, 2015, respectively, of net carrying amount of software to be sold, leased, or otherwise marketed.

Intangible assets amortization expense was $249 million and $740 million for the three and nine months ended March 31, 2016, respectively, and $361 million and $1.1 billion for the three and nine months ended March 31, 2015, respectively. Amortization of capitalized software was $18 million and $55 million for the three and nine months ended March 31, 2016, respectively, and $13 million and $68 million for the three and nine months ended March 31, 2015, respectively.

In the third quarter of fiscal year 2016, we corrected our intangible assets in the table above for a $585 million misstatement between gross carrying amount and accumulated amortization as of June 30, 2015. We do not consider this correction to be material, and there was no impact to our consolidated financial statements.

 

The following table outlines the estimated future amortization expense related to intangible assets held as of March 31, 2016:

 

(In millions)       


Year Ending June 30,

        

2016 (excluding the nine months ended March 31, 2016)

   $ 247   

2017

     861   

2018

     753   

2019

     602   

2020

     522   

Thereafter

     1,474   


Total

   $   4,459