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Goodwill and intangible assets
3 Months Ended
Sep. 30, 2017
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, 2017 are as follows:
 
 
Diversified Industrial
Segment
 
Aerospace
Systems
Segment
 
Total
Balance at June 30, 2017
$
5,488,236

 
$
98,642

 
$
5,586,878

Acquisitions
39,629

 

 
39,629

Foreign currency translation and other
52,722

 
10

 
52,732

Balance at September 30, 2017
$
5,580,587

 
$
98,652

 
$
5,679,239


Acquisitions represent adjustments to purchase price allocations during the measurement period subsequent to the applicable acquisition dates. The impact of purchase price allocation adjustments made during the current-year quarter on the Company's results of operations and financial position were immaterial.
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, 2017
 
June 30, 2017
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Gross Carrying
Amount
 
Accumulated
Amortization
Patents
$
256,510

 
$
106,198

 
$
254,049

 
$
100,860

Trademarks
556,813

 
208,892

 
553,691

 
200,413

Customer lists and other
2,530,285

 
813,221

 
2,566,983

 
765,966

Total
$
3,343,608

 
$
1,128,311

 
$
3,374,723

 
$
1,067,239


Total intangible amortization expense for the three months ended September 30, 2017 was $54,469. The estimated amortization expense for the five years ending June 30, 2018 through 2022 is $215,343, $204,987, $196,124, $187,321 and $151,164, 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, 2017.