Intangible Assets

12 Months Ended

Jun. 30, 2017

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 June 30, 2017 and 2016:

	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in Thousands)
June 30, 2017:
Technology and patents	$	22,350	$	(3,254	)	$	19,096
Customer relationships	1,432		(169		)	1,263
Non-compete agreements	553		(123		)	430
Total	$	24,335	$	(3,546	)	$	20,789
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

Amortization expense for technology and patents is included in operating expenses and amounted to $1.0 million, $0.1 million and $0.7 million in fiscal 2017, 2016 and 2015, respectively. Amortization expense is expected to be approximately $2.1 million in fiscal 2018, $2.1 million in fiscal 2019, $2.1 million in fiscal 2020, $2.2 million in fiscal 2021, $2.5 million in fiscal 2022, and $9.8 million thereafter.