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Goodwill and Intangible Assets | 12 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets [Abstract] |
Goodwill and Intangible Assets |
8. Goodwill and Intangible Assets |  | The changes in the carrying amount of goodwill are as follows (in thousands):
Balance at June 30, 2022 |  | $ | 71,039 |
Goodwill from fiscal 2023 acquisitions (as described in Note 3) |  |  | 2,246 |
Working capital adjustments (1) |  |  | 103 |
Balance at June 30, 2023 |  | $ | 73,388 |
Goodwill from fiscal 2024 acquisitions (as described in Note 3) |  |  | 1,739 |
Working capital adjustments (2) |  |  | (25 | )
Balance at June 30, 2024 |  | $ | 75,102 |
|  | (1) | Relates to working capital adjustments from business acquisitions consummated by the Company during fiscal 2023.
|  | (2) | Relates to working capital adjustments from business acquisitions consummated by the Company during fiscal 2024.
|  | Customer-related intangibles, tradenames and other intangible assets as of June 30, 2024 and 2023 consisted of the following (dollars in thousands):
June 30, |  | Estimated Useful Lives (in years) |  |  | 2024 |  |  | 2023 |
Customer-related intangibles |  | 8-10 |  |  | $ | 20,887 |  |  | $ | 20,887 |
Tradenames |  | Indefinite |  |  |  | 13,005 |  |  |  | 13,005 |
Covenants not to compete |  | 5 |  |  |  | 566 |  |  |  | 566 |
License agreements |  | 10 |  |  |  | 529 |  |  |  | 529 |
Trademarks and patents |  | 10-15 |  |  |  | 176 |  |  |  | 176 |
|  |  |  |  |  | 35,163 |  |  |  | 35,163 |
Accumulated amortization |  |  |  |  |  | (13,141 | ) |  |  | (11,035 | )
|  |  |  |  | $ | 22,022 |  |  | $ | 24,128 |
|  | Amortization expense was approximately $2.1 million in both fiscal 2024 and fiscal 2023, and is included in selling, general and administrative expenses in the consolidated statements of operations. As of June 30, 2024, the weighted average remaining estimated useful lives for customer-related intangibles, covenants not to compete, license agreements, and trademarks and patents were 4.3 years, 0 years, 0 years and 0 years, respectively.
|  | Based on the carrying amount of intangible assets as of June 30, 2024, and assuming no future impairment of the underlying assets, the estimated future amortization at the end of each fiscal year in the five-year period ending June 30, 2029 and thereafter is as follows (in thousands):
Fiscal years ending June 30, |  |  |
2025 |  | $ | 2,102 |
2026 |  |  | 2,101 |
2027 |  |  | 1,778 |
2028 |  |  | 1,256 |
2029 |  |  | 716 |
Thereafter |  |  | 1,064 |
Total |  | $ | 9,017 |

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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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