Goodwill and Other Intangible Assets

9 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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)