v3.19.2

Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended
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Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Goodwill | Changes in Goodwill for the fiscal years ended June 30, 2019 and 2018 are as follows:
|  | Investor Communication Solutions |  | Global Technology and Operations |  | Total
|  | (in millions)
Goodwill, gross, at July 1, 2017 |  | $ | 821.0 |  |  | $ | 338.4 |  |  | $ | 1,159.3 |
Transfers (a) |  | (38.7 | ) |  | 38.7 |  |  | — |
Additions |  | 88.2 |  |  | — |  |  | 88.2 |
Fair value adjustments (b) |  | — |  |  | — |  |  | — |
Foreign currency translation and other |  | 13.9 |  |  | (6.5 | ) |  | 7.4 |
Accumulated impairment losses |  | — |  |  | — |  |  | — |
Goodwill, net, at June 30, 2018 |  | $ | 884.4 |  |  | $ | 370.5 |  |  | $ | 1,254.9 |
Goodwill, gross, at June 30, 2018 |  | $ | 884.4 |  |  | $ | 370.5 |  |  | $ | 1,254.9 |
Additions |  | 27.3 |  |  | 220.4 |  |  | 247.7 |
Fair value adjustments (b) |  | 7.4 |  |  | — |  |  | 7.4 |
Foreign currency translation and other |  | (3.2 | ) |  | (6.8 | ) |  | (10.0 | )
Accumulated impairment losses |  | — |  |  | — |  |  | — |
Goodwill, net, at June 30, 2019 |  | $ | 915.9 |  |  | $ | 584.2 |  |  | $ | 1,500.0 |
(a) In connection with an organizational change made in the second quarter of fiscal year 2018, in order to further align and enhance our portfolio of services, certain discrete services that were previously reported in our Investor Communication Solutions reportable segment are now reported within the Global Technology and Operations reportable segment. As a result, $38.7 million of goodwill was reclassified from the ICS segment to the GTO segment based on a relative fair value analysis. (b) Fair value adjustments includes adjustments to goodwill as part of the finalization of purchase price allocation related to the ActivePath acquisition.
Schedule of Intangible Assets at Cost and Accumulated Amortization | Intangible assets at cost and accumulated amortization at June 30, 2019 and 2018 are as follows:
|  | June 30,
|  | 2019 |  | 2018
|  | Original Cost |  | Accumulated Amortization |  | Intangible Assets, net |  | Original Cost |  | Accumulated Amortization |  | Intangible Assets, net
|  | (in millions)
Software licenses |  | $ | 125.8 |  |  | $ | (101.7 | ) |  | $ | 24.1 |  |  | $ | 117.5 |  |  | $ | (87.5 | ) |  | $ | 30.0 |
Acquired software technology |  | 164.7 |  |  | (85.5 | ) |  | 79.3 |  |  | 117.8 |  |  | (73.0 | ) |  | 44.8 |
Customer contracts and lists |  | 549.6 |  |  | (207.4 | ) |  | 342.1 |  |  | 453.8 |  |  | (162.1 | ) |  | 291.7 |
Acquired intellectual property |  | 135.0 |  |  | (63.8 | ) |  | 71.2 |  |  | 135.0 |  |  | (36.9 | ) |  | 98.1 |
Other intangibles |  | 63.6 |  |  | (24.1 | ) |  | 39.5 |  |  | 47.7 |  |  | (18.2 | ) |  | 29.5 |
|  | $ | 1,038.7 |  |  | $ | (482.5 | ) |  | $ | 556.2 |  |  | $ | 871.8 |  |  | $ | (377.7 | ) |  | $ | 494.1 |
All of the intangible assets have finite lives and as such, are subject to amortization. The weighted-average remaining useful life of the intangible assets is as follows:
|  | Weighted-Average Remaining Useful Life (Years)
Acquired software technology |  | 4.0
Software licenses |  | 2.4
Customer contracts and lists |  | 6.3
Acquired intellectual property |  | 2.8
Other intangibles |  | 4.3
Total weighted-average remaining useful life |  | 5.2
Finite-lived Intangible Assets Amortization Expense | Amortization of intangibles for the years ended June 30, 2019, 2018 and 2017 was as follows:
|  | Years ended June 30,
|  | 2019 |  | 2018 |  | 2017
|  | (in millions)
Amortization expense for intangible assets |  | $ | 106.8 |  |  | $ | 100.2 |  |  | $ | 87.7 |
Estimated Amortization Expenses of Intangible Assets | Estimated remaining amortization expenses of the Company’s existing intangible assets for the next five fiscal years and thereafter are as follows:
Years Ending June 30, |  | (in millions)
2020 |  | $ | 128.2 |
2021 |  | 118.5 |
2022 |  | 95.1 |
2023 |  | 76.0 |
2024 |  | 61.2 |
Thereafter |  | 77.2 |

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