Intangible Assets

9 Months Ended

Mar. 31, 2022

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 consisted of the following as of March 31, 2022 and June 30, 2021:

	Gross Carrying Amount		Accumulated Amortization		Effect of Currency Translation		Net Carrying Amount
	(Dollars in Thousands)
March 31, 2022:
Technology	$	55,288	$	(24,231)	$	573	$	31,630
Customer relationships	12,038		(5,937)		6		6,107
Non-compete agreements	553		(553)		—		—
Total	$	67,879	$	(30,721)	$	579	$	37,737
June 30, 2021:
Technology	$	55,288	$	(19,378)	$	911	$	36,821
Customer relationships	12,038		(4,713)		181		7,506
Non-compete agreements	553		(553)		—		—
Total	$	67,879	$	(24,644)	$	1,092	$	44,327

Total amortization expense related to intangible assets is included in cost of license revenue (for technology) and general and administrative expense (for customer relationships and non-compete agreements) and amounted to approximately $2.0 million and $2.1 million during the three months ended March 31, 2022 and 2021, respectively, and $6.1 million and $5.7 million during the nine months ended March 31, 2022 and 2021, respectively.

Future amortization expense as of March 31, 2022 is expected to be as follows:

Year Ending June 30,	Amortization Expense
	(Dollars in Thousands)
2022	$	2,020
2023	8,063
2024	7,521
2025	7,436
2026	5,263
Thereafter	7,434
Total	$	37,737