GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the nine months ended March 31, 2023 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2022	$	898,698	$	(138,297)	$	760,401

Acquisitions	23,829		—		23,829
Disposals and foreign currency changes, net	(14,673)		—		(14,673)
Impairments	—		—		—
Balances as of March 31, 2023	$	907,854	$	(138,297)	$	769,557

In conjunction with our annual impairment test, we tested goodwill for impairment during the quarter and did not identify any impairment.

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of March 31, 2023:
Reacquired franchise rights	$	392,274	$	(208,401)	$	183,873
Customer relationships	351,427		(295,094)		56,333
Internally-developed software	140,268		(123,125)		17,143
Noncompete agreements	42,575		(39,099)		3,476
Franchise agreements	19,201		(18,348)		853
Purchased technology	122,700		(94,556)		28,144
Trade name	5,800		(2,175)		3,625
	$	1,074,245	$	(780,798)	$	293,447










As of June 30, 2022:
Reacquired franchise rights	$	379,114	$	(197,068)	$	182,046
Customer relationships	331,020		(278,717)		52,303
Internally-developed software	137,638		(107,111)		30,527
Noncompete agreements	41,789		(37,684)		4,105
Franchise agreements	19,201		(17,388)		1,813
Purchased technology	122,700		(87,910)		34,790
Trade name	5,800		(1,740)		4,060

	$	1,037,262	$	(727,618)	$	309,644

We made payments to acquire businesses totaling $47.7 million and $25.5 million during the nine months ended March 31, 2023 and 2022, respectively. The amounts and weighted-average lives of intangible assets acquired during the nine months ended March 31, 2023, including amounts capitalized related to internally-developed software, are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)
Internally-developed software	$	2,822	2
Customer relationships	22,015		5
Reacquired franchise rights	13,460		4
Noncompete agreements	833		5
Total	$	39,130	5

Amortization of intangible assets for the three and nine months ended March 31, 2023 was $17.8 million and $54.7 million, respectively, compared to $19.5 million and $58.7 million for the three and nine months ended March 31, 2022, respectively. Estimated amortization of intangible assets for fiscal years ending June 30, 2023, 2024, 2025, 2026, and 2027 is $71.9 million, $55.2 million, $32.6 million, $23.6 million and $17.8 million, respectively.