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Goodwill and Intangible Assets (Tables)
3 Months Ended
Sep. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Intangible Assets

Goodwill and intangible assets acquired through business combinations consisted of the following (in thousands):

 

 

 

September 30, 2021

 

 

 

Useful Life

(In years)

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Goodwill

 

Indefinite

 

$

262,015

 

 

$

 

 

$

262,015

 

Client relationships

 

9 to 15

 

 

41,000

 

 

 

(16,848

)

 

 

24,152

 

Noncompete agreements

 

3 to 5

 

 

4,107

 

 

 

(2,550

)

 

 

1,557

 

Trademarks and trade names

 

Indefinite

 

 

4,892

 

 

 

 

 

 

4,892

 

Trademarks and trade names

 

1 to 3

 

 

7,613

 

 

 

(3,171

)

 

 

4,442

 

Core technology

 

3 to 5

 

 

47,019

 

 

 

(33,022

)

 

 

13,997

 

Intangible assets, net

 

 

 

$

104,631

 

 

$

(55,591

)

 

$

49,040

 

 

 

 

 

June 30, 2021

 

 

 

Useful Life

(In years)

 

Gross

Amount

 

 

Accumulated

Amortization

 

 

Net Book

Value

 

Goodwill

 

Indefinite

 

$

262,270

 

 

$

 

 

$

262,270

 

Client relationships

 

9 to 15

 

 

41,000

 

 

 

(15,879

)

 

 

25,121

 

Noncompete agreements

 

3 to 5

 

 

4,107

 

 

 

(2,442

)

 

 

1,665

 

Trademarks and trade names

 

Indefinite

 

 

4,892

 

 

 

 

 

 

4,892

 

Trademarks and trade names

 

1 to 3

 

 

7,613

 

 

 

(2,902

)

 

 

4,711

 

Core technology

 

3 to 5

 

 

47,019

 

 

 

(31,059

)

 

 

15,960

 

Intangible assets, net

 

 

 

$

104,631

 

 

$

(52,282

)

 

$

52,349

 

Schedule of Changes in Carrying Amounts of Goodwill

Changes in the carrying amounts of goodwill were as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

 

2021

 

 

2020

 

Balance, beginning of period

 

$

262,270

 

 

$

227,992

 

Foreign currency translation adjustment

 

 

(255

)

 

 

374

 

Balance, end of period

 

$

262,015

 

 

$

228,366

 

Schedule of Amortization Expense Related to Acquired Intangible Assets

Amortization expense related to acquired intangible assets was recognized as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

 

2021

 

 

2020

 

Cost of revenues

 

$

1,964

 

 

$

1,752

 

Sales and marketing

 

 

1,239

 

 

 

992

 

General and administrative

 

 

106

 

 

 

 

Total amortization expense

 

$

3,309

 

 

$

2,744

 

Schedule of Estimated Future Amortization Expense of Acquired Intangible Assets

As of September 30, 2021, the estimated future amortization expense of acquired intangible assets is as follows (in thousands):

 

Fiscal Year Ending June 30,

 

Amount

 

2022 (remaining 9 months)

 

$

9,928

 

2023

 

 

9,190

 

2024

 

 

7,707

 

2025

 

 

5,291

 

2026

 

 

3,111

 

2027 and thereafter

 

 

8,921

 

Total remaining amortization

 

$

44,148