Intangible Assets (Policies)

6 Months Ended

Dec. 31, 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 December 31, 2016 and June 30, 2016:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in Thousands)
December 31, 2016:
Technology and patents	$	19,150	$	(2,660	)	$	16,490
In process research & development	3,200		—			3,200
Customer relationships	1,432		(47		)	1,385
Non-compete agreements	553		—			553
Total	$	24,335	$	(2,707	)	$	21,628
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 approximately $0.1 million for the three and six months ended December 31, 2016 and December 31, 2015, respectively. Amortization expense is expected to be approximately $1.1 million in fiscal 2017, $1.7 million in fiscal 2018, $1.7 million in fiscal 2019, $1.8 million in fiscal 2020, $1.9 million in fiscal 2021, and $13.4 million thereafter.