XML 36 R14.htm IDEA: XBRL DOCUMENT v3.21.2
Intangible Assets and Goodwill
 12 Months Ended
Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets and Goodwill INTANGIBLE ASSETS AND GOODWILL
Intangible assets—The Company's intangible assets include those acquired as part of the acquisitions listed in the table below (refer to Note 2 to the consolidated financial statements for further details). The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. During the years ended June 30, 2021, 2020, and 2019, there were no such indicators.

Goodwill—The Company recorded as goodwill the excess of the purchase price over the estimated fair values of identifiable assets and liabilities acquired as part of the acquisitions listed in the table below (refer to Note 2 to the consolidated financial statements for further details). There were no goodwill impairment charges recorded during the years ended June 30, 2021, 2020, and 2019.

Goodwill is assigned to reporting units that are expected to benefit from the synergies of the business combination as of the acquisition date and becomes identified with that reporting unit in its entirety. As such, the reporting unit as a whole supports the recovery of its goodwill. For the following acquisitions, the reporting units to which goodwill has been assigned and the associated reportable segments are as follows:

AcquisitionReporting UnitReportable Segment
Auto & Home-controlling interestAuto & HomeAuto & Home
InsideResponseSeniorSenior
Lead distribution companySeniorSenior
Express Med PharmaceuticalsSeniorSenior

The carrying amounts, accumulated amortization, net carrying value, and weighted average remaining life of our definite-lived amortizable intangible assets as well as our goodwill are presented in the tables below as of June 30 (dollars in thousands, useful life in years):
20212020
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful LifeGross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life
Total intangible assets subject to amortization
Customer relationships$17,122 $(3,448)$13,674 $16,922 $(1,011)$15,911 
Trade name2,680 (625)2,055 2,680 (88)2,592 
Proprietary software1,592 (382)1,210 1,042 (48)994 
Non-compete agreements1,292 (163)1,129 192 (16)176 
Vendor relationships23,700 (1,098)22,602 — — — 
Total intangible assets$46,386 $(5,716)$40,670 7.1$20,836 $(1,163)$19,673 6.4
Total indefinite-lived assets
Goodwill-Auto & Home$5,364 $5,364 
Goodwill-Senior62,655 41,213 
Total goodwill$68,019 $46,577 

For the years ended June 30, 2021, 2020, and 2019, amortization expense related to intangible assets totaled $4.6 million, $0.5 million, and $0.1 million, respectively.

Changes in the balance of goodwill for the year ended June 30, 2021, are as follows (in thousands):

Balance, June 30, 2020
$46,577 
Measurement period adjustments(1)
(122)
Goodwill from the acquisition of a lead distribution company3,500 
Goodwill from the acquisition of Express Med Pharmaceuticals18,064 
Balance, June 30, 2021
$68,019 
(1) Represents measurement period adjustments related to the InsideResponse acquisition (refer to Note 2 to the consolidated financial statements for further details).

As of June 30, 2021, expected amortization expense in future fiscal periods were as follows (in thousands):

Trade NameProprietary SoftwareNon-compete agreementsVendor RelationshipsCustomer relationshipsTotal
2022$536 $432 $282 $2,633 $2,476 $6,359 
2023536 339 273 2,633 2,324 6,105 
2024536 308 220 2,633 2,319 6,016 
2025447 131 220 2,633 2,316 5,747 
2026— — 134 2,633 2,313 5,080 
Thereafter— — — 9,437 1,926 11,363 
Total$2,055 $1,210 $1,129 $22,602 $13,674 $40,670