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Goodwill and Other Identifiable Intangible Assets | 12 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Identifiable Intangible Assets | Goodwill and Other Identifiable Intangible Assets In accordance with ASC 350, Intangibles - Goodwill and Other Intangible Assets, the Company performs its annual goodwill impairment test during the fourth quarter of each fiscal year, or whenever indicators of impairment are present. The reporting units utilized for goodwill impairment tests align directly with our operating segments, Specialty Technology Solutions and Intelisys & Advisory. The testing includes the determination of each reporting unit's fair value using a discounted cash flows model compared to each reporting unit's carrying value. Key assumptions used in determining fair value include projected growth and operating margin, working capital requirements and discount rates. During fiscal years ended June 30, 2025, 2024 and 2023, no impairment charges related to goodwill were recorded. The fair value of the Specialty Technology Solutions and Intelisys & Advisory reporting units exceeded its carrying value by 2% and 100%, re spectively, as of the annual goodwill impairment testing date. Changes in the carrying amount of goodwill for the years ended June 30, 2025 and 2024, by reportable segment, are set forth in the table below.
| Specialty Technology Solutions |  | Intelisys & Advisory |  | Total
| (in thousands)
Balance at June 30, 2023 | $ | 156,486 |  |  | $ | 60,220 |  |  | $ | 216,706 |
Disposals | (8,585) |  |  | — |  |  | (8,585) |
Unrealized loss on foreign currency translation | (1,793) |  |  | (27) |  |  | (1,820) |
Balance at June 30, 2024 | $ | 146,108 |  |  | $ | 60,193 |  |  | $ | 206,301 |
Additions | 13,447 |  |  | 10,693 |  |  | 24,140 |
Unrealized gain on foreign currency translation | 224 |  |  | 155 |  |  | 379 |
Balance at June 30, 2025 | $ | 159,779 |  |  | $ | 71,041 |  |  | $ | 230,820 |
The following table shows the Company’s identifiable intangible assets as of June 30, 2025 and 2024, respectively.
| June 30, 2025 |  | June 30, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Book Value
| (in thousands)
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 145,528 |  |  | $ | 92,943 |  |  | $ | 52,585 |  |  | $ | 107,875 |  |  | $ | 79,235 |  |  | $ | 28,640 |
Trade names | 14,036 |  |  | 11,442 |  |  | 2,594 |  |  | 13,036 |  |  | 10,021 |  |  | 3,015 |
Supplier partner program | 4,085 |  |  | 3,341 |  |  | 744 |  |  | 4,085 |  |  | 2,911 |  |  | 1,174 |
Encryption key library | 19,900 |  |  | 19,694 |  |  | 206 |  |  | 19,900 |  |  | 17,205 |  |  | 2,695 |
Developed technology | 10,512 |  |  | 3,732 |  |  | 6,780 |  |  | 4,612 |  |  | 2,501 |  |  | 2,111 |
Total intangibles | $ | 194,061 |  |  | $ | 131,152 |  |  | $ | 62,909 |  |  | $ | 149,508 |  |  | $ | 111,873 |  |  | $ | 37,635 |
The weighted-average amortization period for all intangible assets was approximately 9 years for the fiscal year ended June 30, 2025 and approximately 10 years for the fiscal years ended 2024 and 2023. Amortization expense for continuing operations for the years ended June 30, 2025, 2024 and 2023 was $19.2 million, $15.7 million and $16.7 million, respectively, all of which relates to selling, general and administrative costs, not the cost of selling goods, and has been presented as such in the accompanying Consolidated Income Statements. Certain fully amortized intangible assets have been removed during the current fiscal year. Estimated future amortization expense is as follows:
| Amortization Expense
| (in thousands)
Year Ended June 30, |
2026 | $ | 15,718 |
2027 | 9,379 |
2028 | 8,022 |
2029 | 7,493 |
2030 | 4,704 |
Thereafter | 17,593 |
Total | $ | 62,909 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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