XML 25 R10.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other Assets (Text Block)
12 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Other Assets Disclosure [Text Block]
OTHER ASSETS
Goodwill
The carrying amount of goodwill for the years ended June 30, 2016 and 2015, by reportable segments, is as follows:
 
June 30,
Bank systems and services
2016
 
2015
Beginning balance
$
420,795

 
$
423,190

Goodwill, acquired during the year
6,099

 

Goodwill, written off related to sale
(3,612
)
 
(2,395
)
Ending balance
$
423,282

 
$
420,795

 
 
 
 
Credit Union systems and services
 
 
 
Beginning balance
$
129,571

 
$
129,571

Goodwill, acquired during the year

 

Ending balance
$
129,571

 
$
129,571


The Goodwill acquired during the year was a result of our purchase of Bayside Business Solutions, Inc. The goodwill of $6,099 arising from this acquisition consists largely of the growth potential, synergies and economies of scale expected from combining the operations of the Company with those of Bayside Business Solutions, together with the value of Bayside Business Solutions’ assembled workforce. Goodwill from this acquisition has been allocated to our banking segment.
During the year the Company sold its Alogent business (Alogent) to Antelope Acquisition Co., an affiliate of Battery Ventures. Alogent was included in our banking segment. Goodwill allocated to the carrying amount of the net assets sold was calculated based on the relative fair values of the business disposed and the portion of the reporting unit that was retained.
Other Intangible Assets
Information regarding other identifiable intangible assets is as follows:
 
June 30, 2016
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Customer relationships
$
266,545

 
(162,460
)
 
$
104,085

Computer software
$
474,738

 
(252,623
)
 
$
222,115

Other intangible assets:
 
 
 
 
 
Purchased software
43,692

 
(17,475
)
 
26,217

Trade names
12,802

 
(3,313
)
 
9,489

Other intangible assets, total
$
56,494

 
(20,788
)
 
$
35,706

 
 
 
 
 
 
 
June 30, 2015
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net
Customer relationships
$
276,337

 
(154,133
)
 
$
122,204

Computer software
$
416,674

 
(225,133
)
 
$
191,541

Other intangible assets:
 
 
 
 
 
Purchased software
32,192

 
(7,818
)
 
24,374

Trade names
12,498

 
(2,834
)
 
9,664

Total
$
44,690

 
(10,652
)
 
$
34,038


Customer relationships have lives ranging from 5 to 20 years.
Computer software includes cost of software to be sold, leased, or marketed of $108,991 and costs of internal-use software of $113,124 at June 30, 2016.
Computer software includes the unamortized cost of commercial software products developed or acquired by the Company, which are capitalized and amortized over useful lives ranging from 5 to 10 years. Amortization expense for computer software totaled $54,810, $43,798, and $37,720 for the fiscal years ended June 30, 2016, 2015, and 2014, respectively. There were no material impairments in any of the fiscal years presented.
Our other intangible assets have useful lives ranging from 3 to 20 years.
Amortization expense for all intangible assets was $79,077, $64,841, and $54,836 for the fiscal years ended June 30, 2016, 2015, and 2014, respectively. The estimated aggregate future amortization expense for each of the next five years for all intangible assets remaining as of June 30, 2016, is as follows:
Years Ending June 30,
Computer Software
 
Customer
Relationships
 
Other Intangible Assets
 
Total
2017
$
53,326

 
$
13,097

 
$
10,968

 
$
77,391

2018
46,062

 
12,509

 
7,400

 
65,971

2019
37,781

 
12,244

 
3,660

 
53,685

2020
27,091

 
10,074

 
939

 
38,104

2021
11,742

 
8,430

 
642

 
20,814