Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):

Balance at June 30, 2019		54,501
Goodwill from fiscal 2020 acquisitions (as described in Note 3)		2,094
Other		83
Balance at June 30, 2020	$	56,678
Goodwill from YES Acquisition (as described in Note 3)		7,230
Working capital adjustments (1)		(27	)
Balance at June 30, 2021		63,881
(1) Relates to working capital adjustments from business acquisitions consummated by the Company during fiscal 2020

Schedule of License, Trademarks and Other Intangible Assets

57

EVI Industries, Inc. and Subsidiaries

Notes to Consolidated Financial Statements

 

Customer-related intangibles, tradenames and other intangible assets as of June 30, 2021 and 2020 consisted of the following (dollars in thousands):

June 30,	Estimated Useful Lives (in years)		2021			2020
Customer-related intangibles		8-10	$	18,237		$	16,037
Tradenames		Indefinite		11,155			9,555
Covenants not to compete		5		566			566
License agreements		10		529			529
Trademarks and patents		10-15		176			176
				30,663			26,863
Accumulated amortization				(6,986	)		(5,109	)
			$	23,677		$	21,754

Schedule of Estimated Future Amortization

Based on the carrying amount of intangible assets as of June 30, 2021, and assuming no future impairment of the underlying assets, the estimated future amortization at the end of each fiscal year in the five-year period ending June 30, 2026 and thereafter is as follows (in thousands):

Fiscal years ending June 30,
2022	$	1,884
2023		1,841
2024		1,841
2025		1,837
2026		1,836
Thereafter		3,283
Total	$	12,522