Goodwill And Other Intangible Assets, Net

12 Months Ended

Jun. 30, 2018

Goodwill And Other Intangible Assets, Net [Abstract]

Goodwill And Other Intangible Assets, Net

(6) Goodwill and Other Intangible Assets, net

Goodwill

Changes in the carrying amount of goodwill for the years ended June 30, 2018 and June 30, 2017 (in thousands):


	Twelve Months Ended June 30,
	2018		2017
Balance at the beginning of the period	$	1,064,874	$	1,059,245
Business acquisition		247		(645)
Foreign currency translation adjustments		3,823		6,274
Balance at the end of the period	$	1,068,944	$	1,064,874

For each of the years ended June 30, 2018 and June 30, 2017, we have not recorded any goodwill impairments.

Other Intangible Assets

Other intangibles, net are comprised of the following as of June 30, 2018 and June 30, 2017 (in thousands):


	June 30, 2018		June 30, 2017
Developed/core product technology	$	205,149	$	206,258
Accumulated amortization		(115,237)		(93,079)
Developed/core product technology, net		89,912		113,179
Trade names		48,832		48,768
Accumulated amortization		(16,868)		(10,894)
Trade names, net		31,964		37,874
Non-compete agreements		3,288		3,660
Accumulated amortization		(2,283)		(2,236)
Non-compete agreements, net		1,005		1,424
Customer relationships		118,084		122,458
Accumulated amortization		(48,157)		(40,050)
Customer relationships, net		69,927		82,408
In-process research and development		-		4,100
In-process research and development, net		-		4,100
Patents		91,708		85,780
Accumulated amortization		(69,332)		(62,965)
Patents, net		22,376		22,815
Total other intangibles, net	$	215,184	$	261,800

Intangible assets consist of developed/core product technology, trade names, non-compete agreements, customer relationships, and patents, and we amortize them over the estimated useful life of the assets, generally between two and fifteen years. There are no expected residual values related to these intangible assets. In-process research and development is amortized over the estimated the useful life of the assets, once the research and development efforts are completed. At least on an annual basis, we evaluate the in-process research and development balances for impairment.

Refer to note 22 of the consolidated financial statements for details of acquisitions made in the prior year.

Amortization expense for the year ended June 30, 2018 was $46.4 million and $8.0 million for identifiable intangible assets and patents, respectively. Total estimated annual amortization expense for the years ending June 30, 2019 through June 30, 2023, is shown below (in thousands):


Fiscal Year	Amortization expense
2019	$	53,240
2020		48,201
2021		40,532
2022		30,921
2023		12,137

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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