Intangible Assets (Policies)

3 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangibles are removed from the accounts when fully amortized and no longer in use.

Intangible assets consist of the following as of September 30, 2016 and June 30, 2016:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in Thousands)
September 30, 2016:
Technology and patents	$	7,868	$	(2,628	)	$	5,240
In process research & development	3,097		—			$	3,097
Customer relationships	753		(23		)	$	730
Total	$	11,718	$	(2,651	)	$	9,067
June 30, 2016:
Technology and patents	$	3,696	$	(2,596	)	$	1,100
In process research & development	$	3,200	$	—		$	3,200
Customer relationships	$	700	$	—		$	700
Total	$	7,596	$	(2,596	)	$	5,000

Total amortization expense related to intangible assets is included in operating expenses and amounted to less than $0.1 million and $0.1 million for the three months ended September 30, 2016 and September 30, 2015, respectively. Amortization expense is expected to be approximately $0.7 million in fiscal 2017, $1.2 million in fiscal 2018, $1.2 million in fiscal 2019, $1.2 million in fiscal 2020, $1.2 million in fiscal 2021, and $3.6 million thereafter.