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Goodwill and Intangible Assets (Notes)
3 Months Ended
Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and intangible assets
Goodwill and intangible assets
The changes in the carrying amount of goodwill for the three months ended September 30, 2016 are as follows:
 
 
Diversified Industrial
Segment
 
Aerospace
Systems
Segment
 
Total
Balance at June 30, 2016
$
2,804,403

 
$
98,634

 
$
2,903,037

Acquisitions
7,202

 

 
7,202

Foreign currency translation and other
523

 
3

 
526

Balance at September 30, 2016
$
2,812,128

 
$
98,637

 
$
2,910,765


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:
 
 
September 30, 2016
 
June 30, 2016
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Patents
$
151,845

 
$
99,007

 
$
150,914

 
$
95,961

Trademarks
340,429

 
183,227

 
340,805

 
179,156

Customer lists and other
1,366,705

 
674,806

 
1,362,521

 
656,552

Total
$
1,858,979

 
$
957,040

 
$
1,854,240

 
$
931,669


Total intangible amortization expense for the three months ended September 30, 2016 was $26,083. The estimated amortization expense for the five years ending June 30, 2017 through 2021 is $96,161, $92,189, $85,385, $78,582 and $70,549, 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 three months ended September 30, 2016.