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Goodwill and Purchased Intangible Assets | 3 Months Ended
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Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND PURCHASED INTANGIBLE ASSETS | NOTE 7 – GOODWILL AND PURCHASED INTANGIBLE ASSETS Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in the current and prior business combinations. We have four reportable segments and six reporting units. For additional details, refer to Note 18, “Segment Reporting and Geographic Information” of the Condensed Consolidated Financial Statements. The following table presents goodwill carrying value and the movements during the three months ended September 30, 2019(1):
(In thousands) |  | Wafer Inspection and Patterning |  | Global Service and Support (“GSS”) |  | Specialty Semiconductor Process |  | PCB and Display |  | Component Inspection |  | Total
Balance as of June 30, 2019 |  | $ | 360,615 |  |  | $ | 25,908 |  |  | $ | 821,842 |  |  | $ | 989,918 |  |  | $ | 13,575 |  |  | $ | 2,211,858 |
Acquired goodwill |  | 54,001 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 54,001 |
Foreign currency and other adjustments |  | (35 | ) |  | — |  |  | — |  |  | (2,135 | ) |  | — |  |  | (2,170 | )
Balance as of September 30, 2019 |  | $ | 414,581 |  |  | $ | 25,908 |  |  | $ | 821,842 |  |  | $ | 987,783 |  |  | $ | 13,575 |  |  | $ | 2,263,689 |
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(1) | No goodwill was assigned to the Other reporting unit, and accordingly was excluded in the table above.
As of September 30, 2019, there have been no significant events or circumstances affecting the valuation of goodwill subsequent to the qualitative assessment performed in the third and fourth quarters of the fiscal year ended June 30, 2019. For additional details, refer to Note 7 “Goodwill and Purchased Intangible Assets,” of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2019. The next annual assessment of goodwill by reporting unit is scheduled to be performed in the third quarter of the fiscal year ending June 30, 2020. Purchased Intangible Assets The components of purchased intangible assets as of the dates indicated below were as follows:
(In thousands) |  |  | As of September 30, 2019 |  | As of June 30, 2019
Category | Range of Useful Lives (in years) |  | Gross Carrying Amount |  | Accumulated Amortization, and Impairment |  | Net Amount |  | Gross Carrying Amount |  | Accumulated Amortization and Impairment |  | Net Amount
Existing technology | 4-8 |  | $ | 1,251,277 |  |  | $ | 232,203 |  |  | $ | 1,019,074 |  |  | $ | 1,224,629 |  |  | $ | 196,582 |  |  | $ | 1,028,047 |
Trade name / Trademark | 4-7 |  | 117,133 |  |  | 28,537 |  |  | 88,596 |  |  | 114,573 |  |  | 25,052 |  |  | 89,521 |
Customer relationships | 4-9 |  | 305,028 |  |  | 74,511 |  |  | 230,517 |  |  | 297,250 |  |  | 66,471 |  |  | 230,779 |
Backlog and other | <1-9 |  | 50,393 |  |  | 30,014 |  |  | 20,379 |  |  | 43,969 |  |  | 19,146 |  |  | 24,823 |
Intangible assets subject to amortization |  |  | 1,723,831 |  |  | 365,265 |  |  | 1,358,566 |  |  | 1,680,421 |  |  | 307,251 |  |  | 1,373,170 |
In-process research and development |  |  | 190,635 |  |  | — |  |  | 190,635 |  |  | 187,500 |  |  | — |  |  | 187,500 |
Total |  |  | $ | 1,914,466 |  |  | $ | 365,265 |  |  | $ | 1,549,201 |  |  | $ | 1,867,921 |  |  | $ | 307,251 |  |  | $ | 1,560,670 |
Purchased intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. The change in the gross carrying amounts of intangible assets is due to acquisition of certain assets and liabilities of privately-held companies. For additional details, refer to Note 6 “Business Combinations” of the Condensed Consolidated Financial Statements. Amortization expense for purchased intangible assets for the periods indicated below was as follows:
| Three Months Ended
| September 30,
(In thousands) | 2019 |  | 2018
Amortization expense - Cost of revenues | $ | 35,621 |  |  | $ | 890 |
Amortization expense - Selling, general and administrative | 22,256 |  |  | 544 |
Amortization expense - Research and development | 31 |  |  | — |
Total | $ | 57,908 |  |  | $ | 1,434 |
Based on the purchased intangible assets gross carrying amount recorded as of September 30, 2019, the underlying assets, the remaining estimated annual amortization expense is expected to be as follows:
Fiscal year ending June 30: | Amortization (In thousands)
2020 (remaining 9 months) | $ | 161,422 |
2021 | 194,901 |
2022 | 192,323 |
2023 | 191,271 |
2024 | 188,714 |
2025 and thereafter | 429,935 |
Total | $ | 1,358,566 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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