Goodwill and Intangible Assets, net

6 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill for the six months ended December 31, 2022 are as follows:


	Employer Services		PEO Services		Total
Balance at June 30, 2022	$	2,295.7	$	4.8	$	2,300.5
Additions and other adjustments	11.6		—		11.6
Currency translation adjustments	2.9		—		2.9

Balance at December 31, 2022	$	2,310.2	$	4.8	$	2,315.0

Components of intangible assets, net, are as follows:


	December 31,		June 30,
	2022		2022
Intangible assets:
Software and software licenses	$	3,435.9	$	3,271.3
Customer contracts and lists	1,121.3		1,104.7
Other intangibles	241.6		241.2
	4,798.8		4,617.2
Less accumulated amortization:
Software and software licenses	(2,346.2)		(2,251.9)
Customer contracts and lists	(851.5)		(798.9)
Other intangibles	(235.5)		(233.3)
	(3,433.2)		(3,284.1)
Intangible assets, net	$	1,365.6	$	1,333.1

Other intangibles consist primarily of purchased rights, trademarks and trade names (acquired directly or through acquisitions). All intangible assets have finite lives and, as such, are subject to amortization. The weighted average remaining useful life of the intangible assets is 5 years (6 years for software and software licenses, 3 years for customer contracts and lists, and 2 years for other intangibles). Amortization of intangible assets was $93.7 million and $84.3 million for the three months ended December 31, 2022 and 2021, respectively, and $186.1 million and $170.5 million for the six months ended December 31, 2022 and 2021, respectively.

Estimated future amortization expenses of the Company's existing intangible assets are as follows:


	Amount
Six months ending June 30, 2023	$	227.0
Twelve months ending June 30, 2024	$	345.8
Twelve months ending June 30, 2025	$	230.4
Twelve months ending June 30, 2026	$	160.7
Twelve months ending June 30, 2027	$	133.3
Twelve months ending June 30, 2028	$	86.9