Intangible Assets Including Goodwill (Notes)

6 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Including Goodwill

Intangible Assets Including Goodwill

Goodwill

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

	Utility and Power Infrastructure		Process and Industrial Facilities		Storage and Terminal Solutions		Total
	(In thousands)
Net balance at June 30, 2020	$	6,905	$	26,846	$	26,618	$	60,369
Translation adjustment(1)	72		22		142		236
Net balance at December 31, 2020	$	6,977	$	26,868	$	26,760	$	60,605

(1)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 tests its goodwill for impairment annually in May. While there continues to be uncertainty around the near-term level of spending by some of our customers due to the impacts of the COVID-19 pandemic on our markets and the economy, this uncertainty did not result in any impairment indicators as of December 31, 2020. We will continue to monitor the latest developments and perform interim tests for goodwill impairment as needed.

Other Intangible Assets

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

		At December 31, 2020
	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(Years)	(In thousands)
Intellectual property	10 to 15	$	2,483	$	(1,946)	$	537
Customer-based	6 to 15	17,243		(10,037)		7,206
Total amortizing intangible assets		$	19,726	$	(11,983)	$	7,743

		At June 30, 2020
	Useful Life	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(Years)	(In thousands)
Intellectual property	10 to 15	$	2,579	$	(1,956)	$	623
Customer-based	6 to 15	21,840		(13,626)		8,214
Total amortizing intangible assets		$	24,419	$	(15,582)	$	8,837

Amortization expense totaled $0.5 million and $1.1 million during the three and six months ended December 31, 2020 and $0.9 million and $1.9 million during the three and six months ended December 31, 2019, respectively.

We estimate that the remaining amortization expense related to December 31, 2020 amortizing intangible assets will be as follows (in thousands):

Period ending:
Remainder of Fiscal 2021	$	1,131
Fiscal 2022	1,816
Fiscal 2023	1,729
Fiscal 2024	1,416
Fiscal 2025	1,126
Fiscal 2026	167
Thereafter	358
Total estimated remaining amortization expense at December 31, 2020	$	7,743