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ACQUIRED INTANGIBLE ASSETS | 6 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
ACQUIRED INTANGIBLE ASSETS | ACQUIRED INTANGIBLE ASSETS
| As of December 31, 2023
| Cost (1) |  | Accumulated Amortization (1) |  | Net (1)
Technology assets | $ | 1,157,195 |  |  | $ | (257,880) |  |  | $ | 899,315 |
Customer assets | 3,085,048 |  |  | (1,211,143) |  |  | 1,873,905 |
Total | $ | 4,242,243 |  |  | $ | (1,469,023) |  |  | $ | 2,773,220 |
| As of June 30, 2023
| Cost |  | Accumulated Amortization |  | Net
Technology assets | $ | 1,815,260 |  |  | $ | (385,868) |  |  | $ | 1,429,392 |
Customer assets | 3,691,252 |  |  | (1,039,765) |  |  | 2,651,487 |
Total | $ | 5,506,512 |  |  | $ | (1,425,633) |  |  | $ | 4,080,879 |
______________________ (1)Excludes technology and customer intangible net assets with cost of $432.1 million and $610.2 million respectively, accumulated amortization of $48.7 million and $62.9 million respectively, and net book value of $383.4 million and $547.3 million, respectively, that have been reclassified to Assets held for sale related to the proposed divestiture of our AMC business. See Note 19 “Acquisitions and Divestitures.” Where applicable, the above balances as of December 31, 2023 have been reduced to reflect the impact of intangible assets where the gross cost has become fully amortized during the six months ended December 31, 2023. The impact of this resulted in a reduction of $228 million to technology assets and accumulated amortization. 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, |
2024 (six months ended) | $ | 295,133 |
2025 | 509,083 |
2026 | 466,116 |
2027 | 395,693 |
2028 | 378,026 |
2029 and Thereafter | 729,169 |
Total | $ | 2,773,220 |

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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 -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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