GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the six months ended December 31, 2024 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2024	$	923,523	$	(138,297)	$	785,226

Acquisitions(1)	12,761		—		12,761
Disposals and foreign currency changes, net	(14,701)		—		(14,701)
Impairments	—		—		—
Balances as of December 31, 2024	$	921,583	$	(138,297)	$	783,286

(1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting.

We test goodwill for impairment annually as of February 1, or more frequently if events occur or circumstances change which would, more likely than not, reduce the fair value of a reporting unit below its carrying value.

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of December 31, 2024:
Reacquired franchise rights	$	413,752	$	(235,650)	$	178,102
Customer relationships	350,700		(280,481)		70,219
Internally-developed software	123,495		(122,332)		1,163
Noncompete agreements	22,807		(19,857)		2,950
Purchased technology	70,100		(54,543)		15,557
Trade name	5,800		(3,190)		2,610

	$	986,654	$	(716,053)	$	270,601
As of June 30, 2024:
Reacquired franchise rights	$	403,955	$	(228,157)	$	175,798
Customer relationships	331,435		(270,245)		61,190
Internally-developed software	122,673		(119,610)		3,063
Noncompete agreements	21,977		(19,494)		2,483

Purchased technology	70,100		(51,432)		18,668
Trade name	5,800		(2,900)		2,900
	$	955,940	$	(691,838)	$	264,102

We made payments to acquire businesses totaling $28.0 million and $27.2 million during the six months ended December 31, 2024 and 2023, respectively. The amounts and weighted-average lives of intangible assets acquired during the six months ended December 31, 2024, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Customer relationships	$	19,705	5
Reacquired franchise rights	9,983		6
Internally-developed software	1,027		3
Noncompete agreements	871		5
Total	$	31,586	5

Amortization of intangible assets for the three and six months ended December 31, 2024 was $12.1 million and $25.0 million, respectively, compared to $15.4 million and $31.2 million for the three and six months ended December 31, 2023. Estimated amortization of intangible assets for fiscal years ending June 30, 2025, 2026, 2027, 2028, and 2029 is $47.0 million, $39.9 million, $33.1 million, $24.9 million and $16.5 million, respectively.