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Goodwill and Other Intangible Assets | 6 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS During the three months ended December 31, 2023, the Company completed an immaterial business combination for total consideration of approximately $6.5 million. Goodwill of approximately $3.6 million was recorded in the Metal Cutting segment as a result of the acquisition. A summary of the carrying amount of goodwill attributable to each segment, as well as the changes in such carrying amounts, is as follows:
(in thousands) | Metal Cutting |  | Infrastructure |  | Total
Gross goodwill | $ | 447,212 |  |  | $ | 633,211 |  |  | $ | 1,080,423 |
Accumulated impairment losses | (177,661) |  |  | (633,211) |  |  | (810,872) |
Balance as of June 30, 2023 | $ | 269,551 |  |  | $ | — |  |  | $ | 269,551 |
Activity for the six months ended December 31, 2023: |  |  |  |  |
Acquisition | 3,639 |  |  | — |  |  | 3,639 |
Change in gross goodwill due to translation | 2,726 |  |  | — |  |  | 2,726 |
Gross goodwill | 453,577 |  |  | 633,211 |  |  | 1,086,788 |
Accumulated impairment losses | (177,661) |  |  | (633,211) |  |  | (810,872) |
Balance as of December 31, 2023 | $ | 275,916 |  |  | $ | — |  |  | $ | 275,916 |
The components of our other intangible assets were as follows:
| Estimated Useful Life (in years) |  | December 31, 2023 | June 30, 2023
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  |  | Gross Carrying Amount |  | Accumulated Amortization
Technology-based and other | 4 to 20 |  | $ | 32,038 |  |  | $ | (24,411) |  |  |  | $ | 31,872 |  |  | $ | (23,838) |
Customer-related | 10 to 21 |  | 180,414 |  |  | (117,181) |  |  |  | 179,889 |  |  | (112,890) |
Unpatented technology | 10 to 30 |  | 31,571 |  |  | (26,344) |  |  |  | 31,487 |  |  | (25,177) |
Trademarks | 5 to 20 |  | 12,457 |  |  | (11,927) |  |  |  | 12,426 |  |  | (11,441) |
Trademarks | Indefinite |  | 10,981 |  |  | — |  |  |  | 10,836 |  |  | — |
Total |  |  | $ | 267,461 |  |  | $ | (179,863) |  |  |  | $ | 266,510 |  |  | $ | (173,346) |

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