Goodwill and Other Intangible Assets, Net

Goodwill

The Company conducts goodwill impairment testing at least annually as of June 30, or more often if events, changes or circumstances indicate that the carrying amount may not be recoverable.

The Company has determined there was no goodwill impairment for the years ended June 30, 2019 and 2018.

The changes in the carrying amount of goodwill by reportable segment for fiscal years 2019 and 2018 were as follows:



($ in millions)	June 30, 2017			Acquisition		June 30, 2018			Acquisition		June 30, 2019
Goodwill	$	310.6		$	5.3	$	315.9		$	57.7	$	373.6
Accumulated impairment losses	(47.2		)	—		(47.2		)	—		(47.2		)
Total goodwill	$	263.4		$	5.3	$	268.7		$	57.7	$	326.4

Specialty Alloys Operations	$	195.5		$	—	$	195.5		$	—	$	195.5
Performance Engineered Products	67.9			5.3		73.2			57.7		130.9
Total goodwill	$	263.4		$	5.3	$	268.7		$	57.7	$	326.4

Other Intangible Assets, Net



		June 30, 2019							June 30, 2018
($ in millions)	Useful Life (in Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Trademarks and trade names	15 - 30	$	33.5	$	(24.3	)	$	9.2	$	33.5	$	(23.2	)	$	10.3
Customer relationships	10 - 15	76.9		(36.0		)	40.9		76.9		(30.8		)	46.1
Non-compete agreements	5	0.2		(0.1		)	0.1		0.2		(0.1		)	0.1
Technology	15	7.3		(1.0		)	6.3		7.3		(0.5		)	6.8
Patents	14 - 20	11.4		(0.7		)	10.7		—		—			—
Total		$	129.3	$	(62.1	)	$	67.2	$	117.9	$	(54.6	)	$	63.3

The Company recorded $7.3 million of amortization expense related to intangible assets during fiscal year 2019, $6.8 million during fiscal year 2018 and $6.8 million during fiscal year 2017. The estimated annual amortization expense related to intangible assets for each of the succeeding five fiscal years is $7.6 million in fiscal years 2020, 2021, 2022, 2023 and 2024.