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ACQUIRED INTANGIBLE ASSETS | 9 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
ACQUIRED INTANGIBLE ASSETS | ACQUIRED INTANGIBLE ASSETS
| As of March 31, 2023
| Cost |  | Accumulated Amortization |  | Net
Technology assets | $ | 1,802,589 |  |  | $ | (308,166) |  |  | $ | 1,494,423 |
Customer assets | 3,650,068 |  |  | (922,606) |  |  | 2,727,462 |
Total | $ | 5,452,657 |  |  | $ | (1,230,772) |  |  | $ | 4,221,885 |
| As of June 30, 2022
| Cost |  | Accumulated Amortization |  | Net
Technology assets | $ | 999,032 |  |  | $ | (738,710) |  |  | $ | 260,322 |
Customer assets | 1,595,219 |  |  | (780,333) |  |  | 814,886 |
Total | $ | 2,594,251 |  |  | $ | (1,519,043) |  |  | $ | 1,075,208 |
Where applicable, the above balances as of March 31, 2023 have been reduced to reflect the impact of intangible assets where the gross cost has become fully amortized during the nine months ended March 31, 2023. The impact of this resulted in a reduction of $578 million to technology assets and $64 million to customer assets. The balances as of March 31, 2023 include $1.4 billion of intangible technology assets and $2.1 billion of intangible customer assets acquired through the Micro Focus Acquisition. See Note 19 “Acquisitions” for further details including the finalization of the purchase price allocation for the Micro Focus Acquisition. The weighted average amortization periods for acquired technology and customer intangible assets are approximately six years and eight years, respectively. The following table shows the estimated future amortization expense for the fiscal years indicated. This calculation assumes no future adjustments to acquired intangible assets:
Fiscal years ending June 30, |
2023 (three months ended) | $ | 197,194 |
2024 | 743,983 |
2025 | 631,788 |
2026 | 588,646 |
2027 | 518,602 |
2028 and Thereafter | 1,541,672 |
Total | $ | 4,221,885 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -URI https://asc.fasb.org/subtopic&trid=2144471 + Details
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