GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Mar. 31, 2024

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, 2024 are as follows:


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

Acquisitions(1)	18,929		—		18,929
Disposals and foreign currency changes, net	(6,748)		—		(6,748)
Impairments	—		—		—
Balances as of March 31, 2024	$	925,931	$	(138,297)	$	787,634

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

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, 2024:
Reacquired franchise rights	$	403,242	$	(224,204)	$	179,038
Customer relationships	385,290		(318,502)		66,788
Internally-developed software	133,289		(128,487)		4,802
Noncompete agreements	44,158		(41,148)		3,010
Franchise agreements	19,201		(19,201)		—
Purchased technology	122,700		(102,165)		20,535
Trade name	5,800		(2,755)		3,045
	$	1,113,680	$	(836,462)	$	277,218
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 $43.2 million and $47.7 million during the nine months ended March 31, 2024 and 2023, respectively. The amounts and weighted-average lives of intangible assets acquired during the nine months ended March 31, 2024 are as follows:


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

Customer relationships	$	34,084	5
Reacquired franchise rights	10,856		5
Noncompete agreements	1,581		5
Total	$	46,521	5

Amortization of intangible assets for the three and nine months ended March 31, 2024 was $15.0 million and $46.2 million, respectively, compared to $17.8 million and $54.7 million for the three and nine months ended March 31, 2023, respectively. Estimated amortization of intangible assets for fiscal years ending June 30, 2024, 2025, 2026, 2027, and 2028 is $61.1 million, $42.8 million, $33.1 million, $26.5 million and $18.7 million, respectively.