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Goodwill and Other Intangible Assets | 12 Months Ended
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Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Effective July 1, 2019, the Company realigned its organizational structure into two reporting segments for the purpose of making operational decisions and assessing financial performance: (i) Compound Semiconductors and (ii) Photonic Solutions. All applicable information has been restated to reflect this change. See Note 14 for further information regarding this segment realignment. Goodwill represents the excess of the cost over the net tangible and identifiable intangible assets of acquired businesses. Identifiable intangible assets acquired in business combinations are recorded based upon fair value at the date of acquisition. Changes in the carrying amount of goodwill were as follows ($000):
|  | Year Ended June 30, 2020 |  |  |  |
|  | Photonic Solutions |  | Compound Semiconductors |  | Total
Balance-beginning of period |  | $ | 134,057 |  |  | $ | 185,721 |  |  | $ | 319,778 |
Goodwill acquired |  | 919,192 |  |  | — |  |  | 919,192 |
Foreign currency translation |  | (755) |  |  | 794 |  |  | 39 |
Balance-end of period |  | $ | 1,052,494 |  |  | $ | 186,515 |  |  | $ | 1,239,009 |
|  | Year Ended June 30, 2019 |  |  |  |
|  | Photonic Solutions |  | Compound Semiconductors |  | Total
Balance-beginning of period |  | $ | 109,670 |  |  | $ | 161,008 |  |  | $ | 270,678 |
Goodwill acquired |  | 26,069 |  |  | 25,569 |  |  | 51,638 |
Foreign currency translation |  | (1,682) |  |  | (856) |  |  | (2,538) |
Balance-end of period |  | $ | 134,057 |  |  | $ | 185,721 |  |  | $ | 319,778 |
The gross carrying amount and accumulated amortization of the Company’s intangible assets other than goodwill as of June 30, 2020 and 2019 were as follows ($000):
|  | June 30, 2020 |  |  |  |  |  | June 30, 2019 |  |  |  |
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
Technology |  | $ | 444,315 |  |  | $ | (68,048) |  |  | $ | 376,267 |  |  | $ | 91,637 |  |  | $ | (39,679) |  |  | $ | 51,958 |
Trade Names |  | 22,369 |  |  | (3,669) |  |  | 18,700 |  |  | 15,759 |  |  | (1,601) |  |  | 14,158 |
Customer Lists |  | 456,223 |  |  | (92,822) |  |  | 363,401 |  |  | 132,872 |  |  | (59,664) |  |  | 73,208 |
Other |  | 1,570 |  |  | (1,570) |  |  | — |  |  | 1,572 |  |  | (1,572) |  |  | — |
Total |  | $ | 924,477 |  |  | $ | (166,109) |  |  | $ | 758,368 |  |  | $ | 241,840 |  |  | $ | (102,516) |  |  | $ | 139,324 |
Amortization expense recorded on the intangible assets for the fiscal years ended June 30, 2020, 2019 and 2018 was $64.2 million, $16.6 million, and $14.6 million, respectively. The technology intangible assets are being amortized over a range of 60 to 240 months with a weighted-average remaining life of approximately 133 months. The customer lists are being amortized over 60 to 240 months with a weighted-average remaining life of approximately 134 months. In conjunction with the acquisition of Finisar, the Company recorded the following intangible assets ($000):
| Gross Carrying Amount |  |  |  |  |  | Weighted Average Assigned Useful Life (Years)
Technology | $ | 334,700 |  |  |  |  |  |  | 12.5
Trade Names | 6,700 |  |  |  |  |  |  | 3.0
Customer Lists | 323,800 |  |  |  |  |  |  | 10.2
| $ | 665,200 |  |  |  |  |  |  |
In connection with past acquisitions, the Company acquired trade names with indefinite lives. The carrying amount of these trade names of $14.3 million as of June 30, 2020 is not amortized but tested annually for impairment. The Company completed its impairment test of these trade names with indefinite lives in the fourth quarter of fiscal years 2020 and 2019. Based on the results of these tests, the trade names were not impaired. The estimated amortization expense for existing intangible assets for each of the five succeeding years is as follows ($000):
Year Ending June 30, |
2021 | $ | 77,011 |
2022 | 74,252 |
2023 | 73,380 |
2024 | 64,394 |
2025 | 62,334 |

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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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