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INTANGIBLE ASSETS
12 Months Ended
Jun. 30, 2017
Finite Lived Intangible Assets Net [Abstract]  
INTANGIBLE ASSETS

NOTE 8. INTANGIBLE ASSETS

Intangible assets consisted of the following (in thousands):

 

 

 

June 30,

 

 

 

2017

 

 

2016

 

Intangible assets

 

 

 

 

 

 

 

 

Customer contracts and related customer relationships

 

$

635,895

 

 

$

635,826

 

Acquired technologies

 

 

28,503

 

 

 

28,074

 

Covenants not to compete

 

 

3,305

 

 

 

3,321

 

Other

 

 

1,545

 

 

 

1,551

 

Intangible assets

 

 

669,248

 

 

 

668,772

 

Less accumulated amortization

 

 

 

 

 

 

 

 

Customer contracts and related customer relationships

 

 

(402,934

)

 

 

(363,412

)

Acquired technologies

 

 

(26,542

)

 

 

(25,693

)

Covenants not to compete

 

 

(3,288

)

 

 

(3,245

)

Other

 

 

(1,113

)

 

 

(1,050

)

Accumulated amortization

 

 

(433,877

)

 

 

(393,400

)

Total intangible assets, net

 

$

235,371

 

 

$

275,372

 

Intangible assets are primarily amortized on an accelerated basis over periods ranging from one to fifteen years. The weighted-average period of amortization for customer contracts and related customer relationships as of June 30, 2017 is 14.1 years, and the weighted-average remaining period of amortization is 11.2 years. The weighted-average period of amortization for acquired technologies as of June 30, 2017 is 9.5 years, and the weighted-average remaining period of amortization is 6.1 years.

Amortization expense for the years ended June 30, 2017, 2016 and 2015 was $40.7 million, $38.0 million and $39.5 million, respectively. Expected amortization expense for each of the fiscal years through June 30, 2022 and for years thereafter is as follows (in thousands):

 

 

 

Amount

 

Year ending June 30, 2018

 

$

36,271

 

Year ending June 30, 2019

 

 

31,602

 

Year ending June 30, 2020

 

 

27,130

 

Year ending June 30, 2021

 

 

23,932

 

Year ending June 30, 2022

 

 

20,640

 

Thereafter

 

 

95,796

 

Total intangible assets, net

 

$

235,371