Goodwill and Other Intangible Assets

3 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill were as follows ($000):


	Three Months Ended September 30, 2023
	Networking		Materials		Lasers		Total
Balance-beginning of period	$	1,036,204	$	247,695	$	3,228,801	$	4,512,700


Foreign currency translation	(553)		(646)		(51,357)		(52,556)
Balance-end of period	$	1,035,651	$	247,049	$	3,177,444	$	4,460,144

We test goodwill for impairment annually during the fourth quarter, or more frequently when events or changes in circumstances indicate that fair value is below carrying value.

As part of our annual assessment in the fourth quarter of fiscal 2023, we determined that the estimated fair value of our Lasers reporting unit exceeded its carrying value by approximately 10%. As of September 30, 2023, the carrying amount of goodwill within this reporting unit was $3.2 billion. The reporting unit’s estimated fair value is sensitive to changes in the significant assumptions used in the analysis including forecasted revenues and related gross margins. If the reporting unit does not perform to expected levels and realize the expected benefit from the multi-year synergy and site consolidation plans, or there are adverse changes in certain macroeconomic factors, the related goodwill may be at risk for impairment in the future.

The gross carrying amount and accumulated amortization of our intangible assets other than goodwill were as follows ($000):


	September 30, 2023						June 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Technology	$	1,644,917	$	(300,638)	$	1,344,279	$	1,661,263	$	(270,786)	$	1,390,477
Trade Names	438,471		(8,471)		430,000		438,470		(8,279)		430,191
Customer Lists	2,298,091		(376,792)		1,921,299		2,333,360		(339,344)		1,994,016

Total	$	4,381,479	$	(685,901)	$	3,695,578	$	4,433,093	$	(618,409)	$	3,814,684