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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Jun. 30, 2023
GOODWILL AND INTANGIBLE ASSETS |
Goodwill and Intangible Assets | 4. GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill by segment for fiscal 2022 and 2023 are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Optoelectronics | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | and | ​ | ​ | ​
​ | ​ | Security | ​ | Healthcare | ​ | Manufacturing | ​ | ​ | ​
​ |  | Division |  | Division |  | Division |  | Consolidated
Balance as of June 30, 2021 | ​ | $ | 206,426 | ​ | $ | 43,584 | ​ | $ | 70,294 | ​ | $ | 320,304
Goodwill acquired or adjusted during the period | ​ |  | 19,436 | ​ |  | — | ​ |  | — | ​ |  | 19,436
Foreign currency translation adjustment | ​ |  | (307) | ​ |  | (397) | ​ |  | (2,679) | ​ |  | (3,383)
Balance as of June 30, 2022 | ​ | $ | 225,555 | ​ | $ | 43,187 | ​ | $ | 67,615 | ​ | $ | 336,357
Goodwill acquired or adjusted during the period | ​ |  | 5,021 | ​ |  | 5,161 | ​ |  | 2,574 | ​ |  | 12,756
Foreign currency translation adjustment | ​ |  | 86 | ​ |  | 107 | ​ |  | 199 | ​ |  | 392
Balance as of June 30, 2023 | ​ | $ | 230,662 | ​ | $ | 48,455 | ​ | $ | 70,388 | ​ | $ | 349,505
​ Intangible assets consisted of the following (dollar amounts in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | June 30, 2022 | ​ | June 30, 2023
​ | ​ | Weighted | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average | ​ | Carrying | ​ | Accumulated | ​ | Intangibles | ​ | Carrying | ​ | Accumulated | ​ | Intangibles
​ |  | Lives |  | Value |  | Amortization |  | Net |  | Value |  | Amortization |  | Net
Amortizable assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Software development costs |  | 7-8 years | ​ | $ | 64,096 | ​ | $ | (18,934) | ​ | $ | 45,162 | ​ | $ | 77,844 | ​ | $ | (20,285) | ​ | $ | 57,559
Patents |  | 19 years | ​ |  | 8,541 | ​ |  | (2,987) | ​ |  | 5,554 | ​ |  | 8,636 | ​ |  | (3,404) | ​ |  | 5,232
Developed technology |  | 10 years | ​ |  | 66,901 | ​ |  | (31,071) | ​ |  | 35,830 | ​ |  | 68,274 | ​ |  | (38,353) | ​ |  | 29,921
Customer relationships |  | 7-8 years | ​ |  | 53,736 | ​ |  | (32,785) | ​ |  | 20,951 | ​ |  | 55,780 | ​ |  | (39,101) | ​ |  | 16,679
Total amortizable assets | ​ | ​ | ​ |  | 193,274 | ​ |  | (85,777) | ​ |  | 107,497 | ​ |  | 210,534 | ​ |  | (101,143) | ​ |  | 109,391
Non-amortizable assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
In-process R&D | ​ | ​ | ​ | ​ | 533 | ​ | ​ | — | ​ | ​ | 533 | ​ | ​ | 533 | ​ | ​ | — | ​ | ​ | 533
Trademarks | ​ | ​ | ​ |  | 30,340 | ​ |  | — | ​ |  | 30,340 | ​ |  | 30,933 | ​ |  | — | ​ |  | 30,933
Total intangible assets | ​ | ​ | ​ | $ | 224,147 | ​ | $ | (85,777) | ​ | $ | 138,370 | ​ | $ | 242,000 | ​ | $ | (101,143) | ​ | $ | 140,857
​ Amortization expense related to intangible assets was $21.5 million, $17.7 million and $19.0 million for fiscal 2021, 2022 and 2023, respectively. At June 30, 2023, the estimated future amortization expense was as follows (in thousands): ​
​ | ​ | ​ | ​
2024 |  | $ | 18,758
2025 | ​ |  | 16,042
2026 | ​ |  | 13,112
2027 | ​ |  | 9,054
2028 | ​ | ​ | 6,544
Thereafter | ​ |  | 45,881
Total | ​ | $ | 109,391
​ Software development costs for software products incurred before establishing technological feasibility are charged to operations. Software development costs incurred after establishing technological feasibility are capitalized on a product-by-product basis until the product is available for general release to customers at which time amortization begins. Annual amortization, charged to cost of goods sold, is the amount computed using the ratio that current revenues for a product bear to the total current and anticipated future revenues for that product. In the event that future revenues are not estimable, such costs are amortized on a straight-line basis over the remaining estimated economic life of the product. Amortizable assets that have not yet begun to be amortized are included in “Thereafter” in the table above. During fiscal 2021, 2022 and 2023, we capitalized software development costs in the amounts of $12.9 million, $15.2 million and $16.2 million, respectively.

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