Goodwill and Other Intangible Assets, net

12 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, net

Goodwill

For each of the years ended June 30, 2022 and June 30, 2021, we have not recorded any goodwill impairments. Changes in the carrying amount of goodwill is comprised of the following for the year ended June 30, 2022 (in thousands):


	2022
	Sleep and Respiratory Care		SaaS		Total
Balance at the beginning of the period	$	633,183	$	1,294,718	$	1,927,901
Business acquisitions	38,953		—		38,953
Foreign currency translation adjustments	(30,412)		—		(30,412)
Balance at the end of the period	$	641,724	$	1,294,718	$	1,936,442

Other Intangible Assets

Other intangibles, net are comprised of the following as of June 30, 2022 and June 30, 2021 (in thousands):


	2022		2021
Developed/core product technology	$	350,671	$	383,319
Accumulated amortization	(239,647)		(239,049)
Developed/core product technology, net	111,024		144,270
Customer relationships	257,034		272,703
Accumulated amortization	(91,731)		(90,976)
Customer relationships, net	165,303		181,727
Other intangibles	204,580		197,662
Accumulated amortization	(134,963)		(131,077)
Other intangibles, net	69,617		66,585
Total other intangibles, net	$	345,944	$	392,582

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 years and fifteen years. There are no expected residual values related to these intangible assets.

Amortization expense related to identified intangible assets for the years ended June 30, 2022 and June 30, 2021 was $70.7 million and $76.2 million, respectively. Amortization expense related to patents for the years ended June 30, 2022 and June 30, 2021 was $6.2 million and $5.3 million, respectively. Total estimated annual amortization expense for the years ending June 30, 2023 through June 30, 2027, is shown below (in thousands):


	Fiscal Years Ending June 30
	2023		2024		2025		2026		2027
Estimated amortization expense	$	61,374	$	57,594	$	53,157	$	47,902	$	29,667