GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

(7) GOODWILL AND INTANGIBLE ASSETS

Goodwill

Goodwill consisted of the following (in thousands):


	Supply Chain Services		Performance Services		Total
June 30, 2022	$	388,502	$	611,411	$	999,913
Acquisition of businesses and assets	—		69,160		69,160
March 31, 2023	$	388,502	$	680,571	$	1,069,073

Goodwill increased primarily due to the TRPN acquisition (see Note 3 - Business Acquisitions). The initial purchase price allocation for the TRPN acquisition is preliminary and subject to change in the valuation of the assets acquired and the liabilities assumed.

Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):


	Useful Life	March 31, 2023		June 30, 2022
Member relationships	14.7 years	$	386,100	$	386,100
Provider network	15.0 years	106,500		—
Technology	7.1 years	99,317		98,017
Customer relationships	9.4 years	57,930		47,830
Non-compete agreements	5.2 years	17,715		17,315
Trade names	6.7 years	18,920		17,210
Other (a)	9.3 years	9,233		7,682
Total intangible assets		695,715		574,154
Accumulated amortization		(252,997)		(217,582)
Total intangible assets, net		$	442,718	$	356,572

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(a)Includes a $1.0 million indefinite-lived asset.

The net carrying value of intangible assets by segment was as follows (in thousands):


	March 31, 2023		June 30, 2022
Supply Chain Services	$	277,641	$	301,611
Performance Services (a)	165,077		54,961
Total intangible assets, net	$	442,718	$	356,572

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(a)Includes a $1.0 million indefinite-lived asset.

Total intangible assets increased primarily due to the TRPN acquisition (see Note 3 - Business Acquisitions). As part of the TRPN acquisition, the total fair value assigned to intangible assets acquired was $116.6 million, consisting primarily of the provider network of $106.5 million. The weighted average useful life of the acquired intangible assets is 14.1 years, with the provider network having a useful life of 15.0 years.

Intangible asset amortization was $11.9 million and $11.2 million for the three months ended March 31, 2023 and 2022, respectively, and $35.4 million and $32.9 million for the nine months ended March 31, 2023 and 2022, respectively.

The estimated amortization expense for each of the next five fiscal years and thereafter is as follows (in thousands):


2023 (a)	$	12,688
2024	49,761
2025	48,136
2026	46,892
2027	44,240
Thereafter	240,001
Total amortization expense	$	441,718

(a)As of March 31, 2023, estimated amortization expense is for the period from April 1, 2023 to June 30, 2023.