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Goodwill and Other Intangible Assets | 9 Months Ended
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Mar. 31, 2024
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 nine months ended March 31, 2024: |  |  |  |  |
Acquisition | 3,639 |  |  | — |  |  | 3,639 |
Change in gross goodwill due to translation | (1,039) |  |  | — |  |  | (1,039) |
Gross goodwill | 449,812 |  |  | 633,211 |  |  | 1,083,023 |
Accumulated impairment losses | (177,661) |  |  | (633,211) |  |  | (810,872) |
Balance as of March 31, 2024 | $ | 272,151 |  |  | $ | — |  |  | $ | 272,151 |
During the three months ended March 31, 2024, the Company determined that certain trademarks are no longer considered indefinite-lived and commenced amortization during the current quarter. The components of our other intangible assets were as follows:
| Estimated Useful Life (in years) |  | March 31, 2024 | June 30, 2023
(in thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  |  | Gross Carrying Amount |  | Accumulated Amortization
Technology-based and other | 4 to 20 |  | $ | 31,781 |  |  | $ | (24,354) |  |  |  | $ | 31,872 |  |  | $ | (23,838) |
Customer-related | 10 to 21 |  | 179,759 |  |  | (118,446) |  |  |  | 179,889 |  |  | (112,890) |
Unpatented technology | 10 to 30 |  | 31,504 |  |  | (26,718) |  |  |  | 31,487 |  |  | (25,177) |
Trademarks | 5 to 20 |  | 23,160 |  |  | (12,280) |  |  |  | 12,426 |  |  | (11,441) |
Trademarks | Indefinite |  | — |  |  | — |  |  |  | 10,836 |  |  | — |
Total |  |  | $ | 266,204 |  |  | $ | (181,798) |  |  |  | $ | 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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