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Intangible Assets Including Goodwill (Notes) | 6 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets Including Goodwill | Goodwill and Other Intangible Assets Goodwill The changes in the carrying value of goodwill by segment are as follows:
| Utility and Power Infrastructure |  | Process and Industrial Facilities |  | Storage and Terminal Solutions |  | Total
| (In thousands)
Net balance at June 30, 2021 | $ | 6,984 |  |  | $ | 26,878 |  |  | $ | 26,774 |  |  | $ | 60,636 |
Translation adjustment(1) | (28) |  |  | (7) |  |  | (55) |  |  | (90) |
Net balance at December 31, 2021 | $ | 6,956 |  |  | $ | 26,871 |  |  | $ | 26,719 |  |  | $ | 60,546 |
(1)The translation adjustments relate to the periodic translation of Canadian Dollar and South Korean Won denominated goodwill recorded as a part of prior acquisitions in Canada and South Korea, in which the local currency was determined to be the functional currency. We test our goodwill for impairment annually as of May 31st. While there continues to be uncertainty around the near-term level of spending by some of our customers due to the impacts of the COVID-19 pandemic and the timing of the economic recovery in certain energy markets, we concluded, that based on the totality of both positive and negative factors, no impairment indicators existed at December 31, 2021. However, based on future operating performance and economic factors, including our future share price, we may need to perform an interim goodwill impairment test, which could result in an impairment. Other Intangible Assets Information on the carrying value of other intangible assets is as follows:
|  |  | At December 31, 2021
| Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (Years) |  | (In thousands)
Intellectual property | 10 to 15 |  | $ | 2,483 |  |  | $ | (2,116) |  |  | $ | 367 |
Customer-based | 6 to 15 |  | 17,274 |  |  | (11,981) |  |  | 5,293 |
Total amortizing intangible assets |  |  | $ | 19,757 |  |  | $ | (14,097) |  |  | $ | 5,660 |
|  |  | At June 30, 2021
| Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (Years) |  | (In thousands)
Intellectual property | 10 to 15 |  | $ | 2,483 |  |  | $ | (2,031) |  |  | $ | 452 |
Customer-based | 6 to 15 |  | 17,354 |  |  | (11,192) |  |  | 6,162 |
Total amortizing intangible assets |  |  | $ | 19,837 |  |  | $ | (13,223) |  |  | $ | 6,614 |
Amortization expense totaled $0.4 million and $1.0 million during the three and six months ended December 31, 2021 and $0.5 million and $1.1 million during the three and six months ended December 31, 2020, respectively. We estimate that the remaining amortization expense related to December 31, 2021 amortizing intangible assets will be as follows (in thousands):
Period ending: |
Remainder of Fiscal 2022 | $ | 864 |
Fiscal 2023 | 1,729 |
Fiscal 2024 | 1,416 |
Fiscal 2025 | 1,096 |
Fiscal 2026 | 555 |
Total estimated remaining amortization expense at December 31, 2021 | $ | 5,660 |

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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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