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Intangible Assets Including Goodwill (Notes)
3 Months Ended
Sep. 30, 2021
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 InfrastructureProcess and Industrial FacilitiesStorage and Terminal SolutionsTotal
 (In thousands)
Net balance at June 30, 2021$6,984 $26,878 $26,774 $60,636 
Translation adjustment(1)
(30)(8)(58)(96)
Net balance at September 30, 2021$6,954 $26,870 $26,716 $60,540 
(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.
We test our goodwill for impairment annually as of May 31st. 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 and the timing of the economic recovery in certain energy markets, we concluded, that based on the totality of both positive and negative factors, no impairment indicators existed at September 30, 2021. However, if customer spending levels do not improve or if the outlook in certain key markets deteriorates, we may need to perform an interim goodwill impairment test, which could result in an impairment.
Other Intangible Assets
Information on the carrying value of other intangible assets is as follows:
  At September 30, 2021
  
Useful LifeGross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
 (Years)(In thousands)
Intellectual property10 to 15$2,483 $(2,074)$409 
Customer-based6 to 1517,260 (11,575)5,685 
Total amortizing intangible assets$19,743 $(13,649)$6,094 
 
  At June 30, 2021
 Useful LifeGross Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
 (Years)(In thousands)
Intellectual property10 to 15$2,483 $(2,031)$452 
Customer-based6 to 1517,354 (11,192)6,162 
Total amortizing intangible assets$19,837 $(13,223)$6,614 
Amortization expense totaled $0.5 million and $0.6 million during the three months ended September 30, 2021 and September 30, 2020, respectively.
We estimate that the remaining amortization expense related to September 30, 2021 amortizing intangible assets will be as follows (in thousands):
Period ending:
Remainder of Fiscal 2022$1,297 
Fiscal 20231,729 
Fiscal 20241,416 
Fiscal 20251,097 
Fiscal 2026555 
Total estimated remaining amortization expense at September 30, 2021$6,094