Intangible Assets Including Goodwill

Goodwill

The changes in the carrying value of goodwill by segment are as follows:



	Electrical Infrastructure		Oil Gas & Chemical			Storage Solutions		Industrial		Total
	(In thousands)
Net balance at June 30, 2018	$	24,826	$	33,604		$	16,760	$	20,972	$	96,162
Disposal of business⁽¹⁾	—		(2,775		)	—		—		(2,775		)
Translation adjustment⁽²⁾	21		—			39		4		64
Net balance at September 30, 2018	$	24,847	$	30,829		$	16,799	$	20,976	$	93,451


(1)	The Company disposed of a business that marketed process heating equipment. See Note 3 - Disposals for more information about the disposal. The business disposed of constituted its own reporting unit and the amount of goodwill written off was all of the goodwill assigned to that reporting unit. None of the goodwill was considered impaired since the Company recorded a gain on the disposal.


(2)	The translation adjustments relate to the periodic translation of Canadian Dollar and South Korean Won denominated goodwill recorded as a part of prior acquisitions in Canada and South Korea, in which the local currency was determined to be the functional currency.

The Company did not note any impairment indicators as of September 30, 2018. However, if our market view of project opportunities or gross margins deteriorates materially from the date of our last test, the Company may need to perform an interim analysis, which could result in the recognition of an additional material impairment to goodwill.

Other Intangible Assets

Information on the carrying value of other intangible assets is as follows:



		At September 30, 2018
	Useful Life	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Years)	(In thousands)
Intellectual property	10 to 15	$	2,579	$	(1,647	)	$	932
Customer-based	6 to 15	38,632		(17,590		)	21,042
Non-compete agreements	4	1,453		(1,420		)	33
Total amortizing intangible assets		$	42,664	$	(20,657	)	$	22,007



		At June 30, 2018
	Useful Life	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Years)	(In thousands)
Intellectual property	9 to 15	$	2,579	$	(1,603	)	$	976
Customer-based	6 to 15	38,562		(16,763		)	21,799
Non-compete agreements	4	1,453		(1,414		)	39
Total amortizing intangible assets		$	42,594	$	(19,780	)	$	22,814

Amortization expense totaled $0.8 million and $1.6 million during the three months ended September 30, 2018 and September 30, 2017, respectively.

We estimate that the remaining amortization expense related to September 30, 2018 amortizing intangible assets will be as follows (in thousands):



Period ending:
Remainder of Fiscal 2019	$	2,872
Fiscal 2020	3,697
Fiscal 2021	3,678
Fiscal 2022	2,823
Fiscal 2023	2,369
Fiscal 2024	2,094
Thereafter	4,474
Total estimated remaining amortization expense at September 30, 2018	$	22,007