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Goodwill and Intangible Assets
9 Months Ended
Mar. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

(6)

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company has recorded goodwill of $415.9 from the acquisitions of Counsyl that was completed on July 31, 2018, Assurex that was completed on August 31, 2016, Sividon Diagnostics GmbH (“Sividon”) that was completed on May 31, 2016, Privatklinik Dr. Robert Schindlbeck GmbH & Co. KG (the “Clinic”) that was completed on February 27, 2015, Crescendo Bioscience, Inc. that was completed on February 28, 2014 and Rules-Based Medicine, Inc. that was completed on May 31, 2011.  Of this goodwill, $350.4 relates to the Company’s diagnostic segment and $65.5 relates to the other segment.  The following summarizes changes to the goodwill balance for the nine months ended March 31, 2019:

 

 

 

Carrying

amount

 

Beginning balance July 1, 2018

 

$

318.6

 

Acquisitions (see Note 3)

 

 

98.3

 

Translation adjustments

 

 

(1.0

)

Ending balance March 31, 2019

 

$

415.9

 

 

Intangible Assets

Intangible assets primarily consist of amortizable assets of purchased licenses and technologies, customer relationships, and trade names as well as non-amortizable intangible assets of in-process technologies and research and development.  The following summarizes the amounts reported as intangible assets:

 

 

 

Gross

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

Accumulated

 

 

 

 

 

 

 

Amount

 

 

Amortization

 

 

Net

 

At March 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

Purchased licenses and technologies

 

$

815.3

 

 

$

(141.4

)

 

$

673.9

 

Customer relationships

 

 

4.6

 

 

 

(3.6

)

 

 

1.0

 

Trademarks

 

 

3.0

 

 

 

(1.2

)

 

 

1.8

 

Total amortized intangible assets

 

 

822.9

 

 

 

(146.2

)

 

 

676.7

 

In-process research and development

 

 

22.8

 

 

 

 

 

 

22.8

 

Total unamortized intangible assets

 

 

22.8

 

 

 

 

 

 

22.8

 

Total intangible assets

 

$

845.7

 

 

$

(146.2

)

 

$

699.5

 

 

 

 

Gross

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

Accumulated

 

 

 

 

 

 

 

Amount

 

 

Amortization

 

 

Net

 

At June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

Purchased licenses and technologies

 

$

526.4

 

 

$

(98.0

)

 

$

428.4

 

Customer relationships

 

 

4.6

 

 

 

(3.3

)

 

 

1.3

 

Trademarks

 

 

3.0

 

 

 

(1.0

)

 

 

2.0

 

Total amortized intangible assets

 

 

534.0

 

 

 

(102.3

)

 

 

431.7

 

In-process research and development

 

 

23.5

 

 

 

 

 

 

23.5

 

Total unamortized intangible assets

 

 

23.5

 

 

 

 

 

 

23.5

 

Total intangible assets

 

$

557.5

 

 

$

(102.3

)

 

$

455.2

 

 

The Company recorded amortization expense during the respective periods for these intangible assets as follows:

 

 

 

Three months ended

 

 

Nine months ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Amortization of intangible assets

 

$

15.2

 

 

$

9.3

 

 

$

44.0

 

 

$

28.0