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Goodwill and Intangible Assets | 12 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | 7. Goodwill and Intangible Assets The following table reflects the changes in the carrying amount of goodwill (in thousands):
|  | June 30, 2023 |  |  | June 30, 2022 |
Balance at beginning of period |  | $ | 400,144 |  |  | $ | 331,159 |
Additions due to acquisitions (see Note 4) |  |  | — |  |  |  | 68,985 |
Foreign currency translation |  |  | (5,389 | ) |  |  | — |
Balance at end of period |  | $ | 394,755 |  |  | $ | 400,144 |
The following tables summarize the components of gross and net intangible asset balances (in thousands, except years):
|  | Weighted Average |  |  |  |  |  |  |  |  |
|  | Remaining Amortization |  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |
|  | Period |  | Amount |  |  | Amortization |  |  | Amount |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |
Developed technology |  | 4.1 years |  | $ | 169,460 |  |  | $ | 159,592 |  |  | $ | 9,868 |
Customer relationships |  | 3.4 years |  |  | 64,839 |  |  |  | 58,894 |  |  |  | 5,945 |
Trade names |  | 0.0 years |  |  | 10,700 |  |  |  | 10,700 |  |  |  | — |
License agreements |  | 3.4 years |  |  | 2,445 |  |  |  | 2,195 |  |  |  | 250 |
Total intangible assets, net* |  |  |  | $ | 247,444 |  |  | $ | 231,381 |  |  | $ | 16,063 |
* The carrying amounts of foreign intangible assets are affected by foreign currency translation. |  |  |  |
|  | Weighted Average |  |  |  |  |  |  |  |  |
|  | Remaining Amortization |  | Gross Carrying |  |  | Accumulated |  |  | Net Carrying |
|  | Period |  | Amount |  |  | Amortization |  |  | Amount |
June 30, 2022 |  |  |  |  |  |  |  |  |  |  |
Developed technology |  | 3.3 years |  | $ | 170,600 |  |  | $ | 146,560 |  |  | $ | 24,040 |
Customer relationships |  | 3.9 years |  |  | 64,839 |  |  |  | 56,704 |  |  |  | 8,135 |
Trade names |  | 0.1 years |  |  | 10,700 |  |  |  | 10,680 |  |  |  | 20 |
License agreements |  | 4.4 years |  |  | 2,445 |  |  |  | 2,125 |  |  |  | 320 |
Total intangible assets, net* |  |  |  | $ | 248,584 |  |  | $ | 216,069 |  |  | $ | 32,515 |
* The carrying amount of foreign intangible assets are affected by foreign currency translation. |  |  |  |
The following table summarizes the amortization expense of intangible assets for the periods presented (in thousands):
|  | Year Ended |
|  | June 30, 2023 |  |  | June 30, 2022 |  |  | June 30, 2021 |
Amortization of intangible assets in “Total cost of revenues” |  | $ | 12,941 |  |  | $ | 16,711 |  |  | $ | 26,246 |
Amortization of intangible assets in “Total operating expenses” |  |  | 2,047 |  |  |  | 3,235 |  |  |  | 6,110 |
Total amortization expense |  | $ | 14,988 |  |  | $ | 19,946 |  |  | $ | 32,356 |
The amortization expense that is recognized in “Total cost of revenues” primarily consists of amortization related to developed technology, license agreements and other intangibles. The estimated future amortization expense to be recorded for each of the respective future fiscal years is as follows (in thousands):
|  | Amount |
For the fiscal year ending June 30: |  |  |
2024 |  | $ | 5,293 |
2025 |  |  | 4,519 |
2026 |  |  | 3,241 |
2027 |  |  | 1,452 |
2028 |  |  | 1,289 |
Thereafter |  |  | 269 |
Total |  | $ | 16,063 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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