GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 5: GOODWILL AND INTANGIBLE ASSETS

Changes in the carrying amount of goodwill for the six months ended December 31, 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)	13,514		—		13,514
Disposals and foreign currency changes, net	101		—		101
Impairments	—		—		—
Balances as of December 31, 2023	$	927,365	$	(138,297)	$	789,068

(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 December 31, 2023:
Reacquired franchise rights	$	400,059	$	(220,263)	$	179,796
Customer relationships	372,328		(312,360)		59,968
Internally-developed software	133,388		(126,427)		6,961
Noncompete agreements	43,536		(40,623)		2,913
Franchise agreements	19,201		(19,201)		—
Purchased technology	122,700		(100,298)		22,402
Trade name	5,800		(2,610)		3,190
	$	1,097,012	$	(821,782)	$	275,230
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 $27.2 million and $39.8 million during the six months ended December 31, 2023 and 2022, respectively. The amounts and weighted-average lives of intangible assets acquired during the six months ended December 31, 2023 are as follows:


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

Customer relationships	$	20,933	5
Reacquired franchise rights	7,604		5
Noncompete agreements	942		5
Total	$	29,479	5

Amortization of intangible assets for the three and six months ended December 31, 2023 was $15.4 million and $31.2 million, respectively, compared to $18.5 million and $36.9 million for the three and six months ended December 31, 2022, respectively. Estimated amortization of intangible assets for fiscal years ending June 30, 2024, 2025, 2026, 2027, and 2028 is $59.9 million, $39.9 million, $30.2 million, $23.9 million and $16.3 million, respectively.