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Goodwill and Intangibles | 9 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill for both the Service Center Based Distribution segment and the Engineered Solutions segment for the fiscal year ended June 30, 2022 and the nine month period ended March 31, 2023 are as follows:
| Service Center Based Distribution |  | Engineered Solutions |  | Total
Balance at June 30, 2021 | $ | 212,296 |  |  | $ | 347,781 |  |  | $ | 560,077 |
Goodwill acquired during the period | — |  |  | 3,984 |  |  | 3,984 |
Other, primarily currency translation | (1,286) |  |  | 430 |  |  | (856) |
Balance at June 30, 2022 | $ | 211,010 |  |  | $ | 352,195 |  |  | $ | 563,205 |
Goodwill acquired during the period | — |  |  | 14,395 |  |  | 14,395 |
Other, primarily currency translation | (739) |  |  | 374 |  |  | (365) |
Balance at March 31, 2023 | $ | 210,271 |  |  | $ | 366,964 |  |  | $ | 577,235 |
The Company has eight (8) reporting units for which an annual goodwill impairment assessment was performed as of January 1, 2023. The Company concluded that all of the reporting units’ fair values exceeded their carrying amounts by at least 20% as of January 1, 2023. At March 31, 2023 and June 30, 2022, accumulated goodwill impairment losses subsequent to fiscal year 2002 totaled $64,794 related to the Service Center Based Distribution segment and $167,605 related to the Engineered Solutions segment. The Company’s identifiable intangible assets resulting from business combinations are amortized over their estimated period of benefit and consist of the following:
March 31, 2023 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 364,292 |  |  | $ | 183,032 |  |  | $ | 181,260 |
Trade names |  | 108,291 |  |  | 49,012 |  |  | 59,279 |
Vendor relationships |  | 9,861 |  |  | 9,580 |  |  | 281 |
Other |  | 3,346 |  |  | 1,033 |  |  | 2,313 |
Total Identifiable Intangibles |  | $ | 485,790 |  |  | $ | 242,657 |  |  | $ | 243,133 |
June 30, 2022 |  | Amount |  | Accumulated Amortization |  | Net Book Value
Finite-Lived Identifiable Intangibles: |  |  |  |  |  |
Customer relationships |  | $ | 353,836 |  |  | $ | 166,623 |  |  | $ | 187,213 |
Trade names |  | 105,629 |  |  | 44,637 |  |  | 60,992 |
Vendor relationships |  | 11,320 |  |  | 10,533 |  |  | 787 |
Other |  | 2,321 |  |  | 723 |  |  | 1,598 |
Total Identifiable Intangibles |  | $ | 473,106 |  |  | $ | 222,516 |  |  | $ | 250,590 |
Fully amortized amounts are written off. During the nine month period ended March 31, 2023, the Company acquired identifiable intangible assets with a preliminary acquisition cost allocation and weighted-average life as follows:
|  | Acquisition Cost Allocation |  | Weighted-Average life
Customer relationships |  | $ | 11,176 |  |  | 20.0
Trade names |  | 3,610 |  |  | 15.0
Other |  | 1,025 |  |  | 6.7
Total Identifiable Intangibles |  | $ | 15,811 |  |  | 18.0
Identifiable intangible assets with finite lives are reviewed for impairment when changes in conditions indicate carrying value may not be recoverable. Estimated future amortization expense by fiscal year (based on the Company’s identifiable intangible assets as of March 31, 2023) for the next five years is as follows: $7,600 for the remainder of 2023, $27,600 for 2024, $25,300 for 2025, $23,600 for 2026, $21,800 for 2027 and $20,200 for 2028.

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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