GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the three months ended September 30, 2023 are as follows:


(in 000s)
	Goodwill		Accumulated Impairment Losses		Net
Balances as of July 1, 2023	$	913,750	$	(138,297)	$	775,453

Acquisitions(1)	3,081		—		3,081
Disposals and foreign currency changes, net	(7,714)		—		(7,714)
Impairments	—		—		—
Balances as of September 30, 2023	$	909,117	$	(138,297)	$	770,820

(1) All goodwill added during the period is expected to be tax-deductible for federal income tax reporting.

We test goodwill for impairment annually as of February 1, or more frequently if events occur or circumstances change which would, more likely than not, reduce the fair value of a reporting unit below its carrying value.

Components of intangible assets are as follows:


(in 000s)
	Gross Carrying Amount		Accumulated Amortization		Net
As of September 30, 2023:
Reacquired franchise rights	$	394,535	$	(216,277)	$	178,258
Customer relationships	355,271		(306,460)		48,811
Internally-developed software	133,273		(123,220)		10,053
Noncompete agreements	42,751		(40,097)		2,654
Franchise agreements	19,201		(19,068)		133
Purchased technology	122,700		(98,432)		24,268
Trade name	5,800		(2,465)		3,335
	$	1,073,531	$	(806,019)	$	267,512
As of June 30, 2023:
Reacquired franchise rights	$	392,452	$	(212,495)	$	179,957
Customer relationships	351,695		(301,062)		50,633
Internally-developed software	133,380		(120,054)		13,326
Noncompete agreements	42,596		(39,617)		2,979
Franchise agreements	19,201		(18,668)		533
Purchased technology	122,700		(96,565)		26,135
Trade name	5,800		(2,320)		3,480
	$	1,067,824	$	(790,781)	$	277,043

We made payments to acquire businesses totaling $6.9 million and $16.5 million during the three months ended September 30, 2023 and 2022, respectively. The amounts and weighted-average lives of intangible assets acquired during the three months ended September 30, 2023 are as follows:


(dollars in 000s)
	Amount		Weighted-Average Life (in years)

Customer relationships	$	4,098	5
Reacquired franchise rights	2,159		5
Noncompete agreements	176		5
Total	$	6,433	5

Amortization of intangible assets for the three months ended September 30, 2023 was $15.8 million compared to $18.4 million for the three months ended September 30, 2022. Estimated amortization of intangible assets for fiscal years ending June 30, 2024, 2025, 2026, 2027, and 2028 is $56.9 million, $34.3 million, $25.0 million, $19.0 million and $11.7 million, respectively.