Goodwill and intangible assets

6 Months Ended

Dec. 28, 2019

Goodwill and intangible assets

Goodwill and intangible assets

3. Goodwill and intangible assets

Goodwill

The following table presents the change in goodwill by reportable segment for the six months ended December 28, 2019.

	Electronic
	Components		Farnell		Total
	(Thousands)
Carrying value at June 29, 2019 (1)	$	390,896	$	485,832	$	876,728
Additions from acquisitions		25,967		—		25,967
Foreign currency translation		361		13,002		13,363
Carrying value at December 28, 2019 (1)	$	417,224	$	498,834	$	916,058

(1)Includes accumulated impairment of $1,045,110 from fiscal 2009, $181,440 from fiscal 2018 and $137,396 from fiscal 2019

The Company evaluates each quarter if facts and circumstances indicate that it is more likely than not that the fair value of its reporting units is less than their carrying value, which would require the Company to perform an interim goodwill impairment test. Indicators the Company evaluates to determine whether an interim goodwill impairment test is necessary include, but are not limited to, (i) a sustained decrease in share price or market capitalization as of any fiscal quarter end, (ii) changes in macroeconomic or industry environments, (iii) the results of and the amount of time passed since the last goodwill impairment test and (iv) the long-term expected financial performance of its reporting units.

Intangible Assets

The following table presents the Company’s acquired intangible assets at December 28, 2019, and June 29, 2019, respectively.

	December 28, 2019						June 29, 2019
	Acquired		Accumulated		Net Book		Acquired		Accumulated		Net Book
	Amount		Amortization		Value		Amount		Amortization		Value
	(Thousands)
Customer related	$	312,666	$	(244,418)	$	68,248	$	292,266	$	(208,329)	$	83,937
Trade name		54,157		(29,713)		24,444		52,760		(24,752)		28,008
Technology and other		64,462		(37,968)		26,494		63,753		(32,178)		31,575
	$	431,285	$	(312,099)	$	119,186	$	408,779	$	(265,259)	$	143,520

Intangible asset amortization expense from continuing operations was $21.3 million and $20.4 million for the second quarters of fiscal 2020 and 2019, respectively, and $41.3 million and $41.2 million for the first six months of fiscal 2020 and 2019, respectively. Intangible assets have a weighted average remaining useful life of approximately 3 years. The following table presents the estimated future amortization expense for the remainder of fiscal 2020 and the next five fiscal years (in thousands):

Fiscal Year
Remainder of fiscal 2020	$	42,412
2021		43,446
2022		16,820
2023		8,118
2024		3,584
2025		4,806
Total	$	119,186