XML 56 R16.htm IDEA: XBRL DOCUMENT v3.19.2
Intangible Assets
 12 Months Ended
Jun. 30, 2019
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, 2019 and 2018:
 
Gross Carrying Amount
 
Accumulated Amortization
 
Effect of Currency Translation
 
Net Carrying Amount
 
(Dollars in Thousands)
June 30, 2019:
 
 
 
 
 
 
 
Technology and patents
$
37,168

 
$
(8,868
)
 
$
(118
)
 
$
28,182

Customer relationships
6,503

 
(1,039
)
 
(100
)
 
5,364

Non-compete agreements

553

 
(492
)
 
—

 
61

Total
$
44,224

 
$
(10,399
)
 
$
(218
)
 
$
33,607

June 30, 2018:
 
 
 
 
 
 
 
Technology and patents
$
35,898

 
$
(5,182
)
 
$
(254
)
 
$
30,462

Customer relationships
5,181

 
(377
)
 
(202
)
 
4,602

Non-compete agreements

553

 
(307
)
 
—

 
246

Total
$
41,632

 
$
(5,866
)
 
$
(456
)
 
$
35,310


Total amortization expense related to intangible assets amounted to $4.5 million, $2.2 million and $1.0 million in fiscal 2019, 2018 and 2017, respectively.
Future amortization expense as of June 30, 2019 is expected to be as follows:
Year Ended June 30,
Amortization Expense
 
(Dollars in Thousands)
2020
$
5,120

2021
5,165

2022
5,104

2023
5,019

2024
4,326

Thereafter
8,873

Total
$
33,607