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Acquisition | 12 Months Ended
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Jun. 30, 2023
Acquisition |
Acquisition | 3. Acquisition ​ In February 2022, we acquired a business in Brazil, which develops, manufactures and markets processing aids used in the ethanol fermentation industry, for an aggregate cash payment of $13,511. We accounted for the acquisition as a business combination in accordance with ASC 805, Business Combinations. Pro forma information giving effect to the acquisition has not been provided because the results are not material to the consolidated financial statements. Definite-lived intangible assets of $10,833 were recognized at acquisition and included developed products, trade name, and non-compete agreements. The definite-lived intangible assets are being amortized over periods ranging from 4 to 13 years. The remaining net assets acquired included accounts receivable, inventories, prepaid and other assets, goodwill, accounts payable and accrued expenses. Goodwill is deductible for income tax purposes. The business is included in the MFAs and other product category within the Animal Health segment.

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