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Goodwill and Intangible Assets | 12 Months Ended
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Jun. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets |
6. | GOODWILL AND INTANGIBLE ASSETS
Goodwill The Company has recorded goodwill of $318.6 from the acquisitions of Assurex Health, Inc. that was completed on August 31, 2016, Sividon Diagnostics that was completed on May 31, 2016, GmbH, Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG that was completed on February 27, 2015, Crescendo Bioscience, Inc. that was completed on February 28, 2014 and Rules-Based Medicine, Inc. that was completed on May 31, 2011. Of this goodwill, $252.8 relates to the Company’s diagnostic segment and $65.8 related to the other segment. The Company assessed goodwill for impairment in accordance with the appropriate guidance (see Note 1) and recorded no impairment of goodwill for the period ended June 30, 2018, 2017 and 2016. The following summarizes changes to the goodwill balance for the years ended June 30, 2018 and 2017:
|  | Years Ended June 30, |
|  |  | 2018 |  |  |  | 2017 |
Beginning balance |  | $ | 316.1 |  |  | $ | 195.3 |
Acquisitions (see note 3) |  |  | - |  |  |  | 116.3 |
Adjustments to acquisitions (see note 3) |  |  | 1.9 |  |  |  | 3.6 |
Translation adjustments |  |  | 0.6 |  |  |  | 0.9 |
Ending balance |  | $ | 318.6 |  |  | $ | 316.1 |
Intangible Assets Intangible assets primarily consist of amortizable assets of purchased licenses and technologies, developed technology, a laboratory database, trademarks, and customer relationships as well as non-amortizable intangible assets of in-process technologies, research and development. Certain of these intangible assets were recorded as part of the Company’s purchase of Assurex on August, 31, 2016, Sividon on March 31, 2016, Crescendo on February 28, 2014 and Myriad RBM on May 31, 2011. The Company’s developed technology and database acquired have estimated remaining useful lives between 3 and 15 years, trademarks acquired have an estimated remaining useful life of approximately 10 years and customer relationships have an estimated remaining useful life of approximately 3 years. The estimated useful life of acquired in-process research and development was also evaluated in conjunction with the annual impairment analysis of intangible assets. The classification of the acquired in-process research and development as an indefinite lived asset was deemed appropriate as the related research and development was not yet complete nor had it been abandoned. The Company concluded there was no impairment of long-lived assets for the years ended June 30, 2018, 2017 and 2016. The following summarizes the amounts reported as intangible assets:
|  | Gross |  |  |  |  |  |  |  |  |
|  | Carrying |  |  | Accumulated |  |  |  |  |
At June 30, 2018: |  | Amount |  |  | Amortization |  |  | Net |
Purchased licenses and technologies |  | $ | 526.4 |  |  | $ | (98.0 | ) |  | $ | 428.4 |
Customer relationships |  |  | 4.6 |  |  |  | (3.3 | ) |  |  | 1.3 |
Trademarks |  |  | 3.0 |  |  |  | (1.0 | ) |  |  | 2.0 |
Total amortizable intangible assets |  |  | 534.0 |  |  |  | (102.3 | ) |  |  | 431.7 |
In-process research and development |  |  | 23.5 |  |  |  | — |  |  |  | 23.5 |
Total unamortized intangible assets |  |  | 23.5 |  |  |  | — |  |  |  | 23.5 |
Total intangible assets |  | $ | 557.5 |  |  | $ | (102.3 | ) |  | $ | 455.2 |
|  | Gross |  |  |  |  |  |  |  |  |
|  | Carrying |  |  | Accumulated |  |  |  |  |
At June 30, 2017: |  | Amount |  |  | Amortization |  |  | Net |
Purchased licenses and technologies |  | $ | 525.7 |  |  | $ | (61.3 | ) |  | $ | 464.4 |
Customer relationships |  |  | 4.6 |  |  |  | (2.8 | ) |  |  | 1.8 |
Trademarks |  |  | 3.0 |  |  |  | (0.8 | ) |  |  | 2.2 |
Total amortizable intangible assets |  |  | 533.3 |  |  |  | (64.9 | ) |  |  | 468.4 |
In-process research and development |  |  | 23.1 |  |  |  | — |  |  |  | 23.1 |
Total unamortized intangible assets |  |  | 23.1 |  |  |  | — |  |  |  | 23.1 |
Total intangible assets |  | $ | 556.4 |  |  | $ | (64.9 | ) |  | $ | 491.5 |
As of June 30, 2018 the weighted average remaining amortization period for purchased licenses and technologies, trademarks, and customer relationships is approximately 14 years. The Company recorded amortization during the respective periods for these intangible assets as follows:
|  | Years Ended June 30, |
|  |  | 2018 |  |  |  | 2017 |  |  |  | 2016 |
Amortization of intangible assets |  | $ | 37.3 |  |  | $ | 33.3 |  |  | $ | 12.7 |
Amortization expense of intangible assets is estimated to be $37.2 in 2019, $36.9 in 2020, $36.9 in 2021, $30.0 in 2022 and $28.6 in 2023 and $262.1 thereafter.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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