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INTANGIBLE ASSETS | 12 Months Ended
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Jun. 30, 2020
Finite Lived Intangible Assets Net [Abstract] |
INTANGIBLE ASSETS | NOTE 7. INTANGIBLE ASSETS Intangible assets consisted of the following (in thousands):
|  | June 30, |
|  | 2020 (1) |  |  | 2019 |
Intangible assets |  |  |  |  |  |  |  |
Customer contracts and related customer relationships |  | $ | 570,562 |  |  | $ | 549,552 |
Acquired technologies |  |  | 129,925 |  |  |  | 137,959 |
Other |  |  | 8 |  |  |  | 800 |
Intangible assets |  |  | 700,495 |  |  |  | 688,311 |
Less accumulated amortization |  |  |  |  |  |  |  |
Customer contracts and related customer relationships |  |  | (271,708 | ) |  |  | (236,935 | )
Acquired technologies |  |  | (21,900 | ) |  |  | (14,750 | )
Other |  |  | (2 | ) |  |  | (511 | )
Accumulated amortization |  |  | (293,610 | ) |  |  | (252,196 | )
Total intangible assets, net |  | $ | 406,885 |  |  | $ | 436,115 |
| (1) | During FY2020, the Company removed $17.6 million in fully amortized intangible assets.
Intangible assets are primarily amortized on an accelerated basis over periods ranging from one to twenty years. The weighted-average period of amortization for customer contracts and related customer relationships as of June 30, 2020 is 17.0 years, and the weighted-average remaining period of amortization is 13.6 years. The weighted-average period of amortization for acquired technologies as of June 30, 2020 is 10.4 years, and the weighted-average remaining period of amortization is 9.0 years. Amortization expense for the years ended June 30, 2020, 2019 and 2018 was $59.3 million, $45.8 million and $38.2 million, respectively. Expected amortization expense for each of the fiscal years through June 30, 2025 and for years thereafter is as follows (in thousands):
|  | Amount |
Year ending June 30, 2021 |  | $ | 58,273 |
Year ending June 30, 2022 |  |  | 55,174 |
Year ending June 30, 2023 |  |  | 50,071 |
Year ending June 30, 2024 |  |  | 43,289 |
Year ending June 30, 2025 |  |  | 37,046 |
Thereafter |  |  | 163,032 |
Total intangible assets, net |  | $ | 406,885 |

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- Definition The entire disclosure for all or part of the information related to 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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