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Goodwill and Intangible Assets (Notes)
6 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets
Goodwill and intangible assets
The changes in the carrying amount of goodwill for the six months ended December 31, 2015 are as follows:
 
 
Diversified Industrial
Segment
 
Aerospace
Systems
Segment
 
Total
Balance at June 30, 2015
$
2,844,045

 
$
98,634

 
$
2,942,679

Acquisitions
31,134

 

 
31,134

Foreign currency translation and other
(60,741
)
 
(7
)
 
(60,748
)
Balance at December 31, 2015
$
2,814,438

 
$
98,627

 
$
2,913,065


Acquisitions represent the original goodwill allocation and final adjustments to purchase price allocations during the measurement period subsequent to the applicable acquisition dates. The impact of final purchase price allocation adjustments on the Company's results of operations and financial position were immaterial.




10. Goodwill and intangible assets cont'd
Intangible assets are amortized on the straight-line method over their legal or estimated useful lives. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets:
 
 
December 31, 2015
 
June 30, 2015
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Patents
$
150,579

 
$
91,131

 
$
149,066

 
$
88,540

Trademarks
341,997

 
171,325

 
355,108

 
172,187

Customer lists and other
1,361,048

 
615,653

 
1,369,380

 
599,388

Total
$
1,853,624

 
$
878,109

 
$
1,873,554

 
$
860,115


Total intangible amortization expense for the six months ended December 31, 2015 was $55,024. The estimated amortization expense for the five years ending June 30, 2016 through 2020 is $101,542, $97,228, $92,425, $84,899 and $77,274, respectively.
Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value. No such events or circumstances occurred during the six months ended December 31, 2015.