| Schedule of Carrying Value of Goodwill and Other Purchased Intangibles |
The carrying value of goodwill and other purchased intangibles as of March 31, 2023 and June 30, 2022 was as described below:
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dollar amounts in thousands |
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March 31, 2023 |
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June 30, 2022 |
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Estimated
Useful
Lives
(Years) |
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Remaining
Weighted
Average
Amortization
Period
(Years) |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
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Accumulated
Impairment |
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Net
Book
Value |
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Gross
Carrying
Amount |
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Accumulated
Amortization |
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Accumulated
Impairment |
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Net
Book
Value |
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Identifiable intangible assets: |
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Existing customer relationships |
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5 - 15 |
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2.5 |
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$ |
55,541 |
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$ |
(45,001 |
) |
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$ |
— |
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$ |
10,540 |
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$ |
53,498 |
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$ |
(38,831 |
) |
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$ |
— |
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$ |
14,667 |
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Developed technology |
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4 |
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2.1 |
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10,982 |
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(5,390 |
) |
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— |
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5,592 |
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10,500 |
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(3,366 |
) |
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— |
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7,134 |
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Non-compete and other |
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3 - 5 |
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4.5 |
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2,310 |
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(2,300 |
) |
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— |
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10 |
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2,300 |
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(2,300 |
) |
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— |
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— |
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Employment agreement |
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1 - 3 |
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0 |
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295 |
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(295 |
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— |
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— |
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295 |
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(295 |
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— |
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— |
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Intangibles subject to amortization |
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69,128 |
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(52,986 |
) |
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— |
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16,142 |
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66,593 |
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(44,792 |
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— |
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21,801 |
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Tradenames and trademarks |
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Indefinite |
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Indefinite |
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49,429 |
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— |
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(1,290 |
) |
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48,139 |
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47,454 |
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— |
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(1,290 |
) |
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46,164 |
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Identifiable intangible assets |
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$ |
118,557 |
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$ |
(52,986 |
) |
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$ |
(1,290 |
) |
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$ |
64,281 |
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$ |
114,047 |
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$ |
(44,792 |
) |
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$ |
(1,290 |
) |
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$ |
67,965 |
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Goodwill |
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Indefinite |
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Indefinite |
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$ |
102,307 |
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$ |
— |
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$ |
(1,364 |
) |
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$ |
100,943 |
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$ |
102,307 |
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$ |
— |
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$ |
(1,364 |
) |
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$ |
100,943 |
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| Schedule of Estimated Annual Amortization Expense Related to Definite-Lived Intangible Assets |
Estimated annual amortization expense related to definite-lived intangible assets for the succeeding five years is as follows (in thousands):
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Fiscal Year Ending June 30, |
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Amount |
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2023 (remainder of year) |
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$ |
2,147 |
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2024 |
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8,015 |
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2025 |
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4,874 |
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2026 |
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681 |
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2027 |
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233 |
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Thereafter |
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192 |
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$ |
16,142 |
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