Goodwill And Intangible Assets, Net

12 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets, Net

GOODWILL AND INTANGIBLE ASSETS, NETChanges in goodwill for the fiscal years ended June 30, 2023 and 2022 are as follows:

	Employer Services		PEO Services		Total
Balance at June 30, 2021	$	2,333.6	$	4.8	$	2,338.4
Additions and other adjustments	11.1		—		11.1
Currency translation adjustments	(49.0)		—		(49.0)
Balance at June 30, 2022	$	2,295.7	$	4.8	$	2,300.5
Additions and other adjustments	26.2		—		26.2
Currency translation adjustments	12.7		—		12.7
Balance at June 30, 2023	$	2,334.6	$	4.8	$	2,339.4

Components of intangible assets, net, are as follows:

June 30,	2023		2022
Intangible assets:
Software and software licenses	$	3,548.9	$	3,271.3
Customer contracts and lists	1,140.6		1,104.7
Other intangibles	241.9		241.2
	4,931.4		4,617.2
Less accumulated amortization:
Software and software licenses	(2,442.6)		(2,251.9)
Customer contracts and lists	(907.5)		(798.9)
Other intangibles	(237.7)		(233.3)
	(3,587.8)		(3,284.1)
Intangible assets, net	$	1,343.6	$	1,333.1

Other intangibles consist primarily of purchased rights, purchased content, 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 1 year for other intangibles). Amortization of intangible assets was $372.8 million, $344.1 million, and $327.4 million for fiscal 2023, 2022, and 2021, respectively.

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

	Amount
Twelve months ending June 30, 2024	$	470.5
Twelve months ending June 30, 2025	$	236.8
Twelve months ending June 30, 2026	$	164.8
Twelve months ending June 30, 2027	$	136.1
Twelve months ending June 30, 2028	$	98.5