Goodwill and Other Identifiable Intangible Assets

In accordance with ASC 350, Intangibles - Goodwill and Other Intangible Assets, the Company performs its annual goodwill impairment test during the fourth quarter of each fiscal year, or whenever indicators of impairment are present. The reporting units utilized for goodwill impairment tests align directly with our operating segments, Worldwide Barcode, Networking & Security and Worldwide Communications & Services. The testing includes the determination of each reporting unit's fair value using a discounted cash flows model compared to each reporting unit's carrying value. Key assumptions used in determining fair value include projected growth and operating margin, working capital requirements and discount rates. During fiscal years ended June 30, 2018, 2017 and 2016, no impairment charges related to goodwill were recorded.

Changes in the carrying amount of goodwill for the years ended June 30, 2018 and 2017, by reportable segment, are set forth in the table below. Additions to goodwill for fiscal years 2018 and 2017 are due to the acquisitions of POS Portal and Intelisys, respectively.



	Worldwide Barcode, Networking & Security Segment			Worldwide Communications & Services Segment			Total
	(in thousands)
Balance at June 30, 2016	$	36,434		$	56,281		$	92,715
Additions	—			109,005			109,005
Unrealized loss on foreign currency translation	(174		)	(665		)	(839		)
Balance at June 30, 2017	$	36,260		$	164,621		$	200,881
Additions	101,198			—			101,198
Unrealized loss on foreign currency translation	(244		)	(3,661		)	(3,905		)
Balance at June 30, 2018	$	137,214		$	160,960		$	298,174

The following table shows the Company’s identifiable intangible assets as of June 30, 2018 and 2017, respectively.



	June 30, 2018						June 30, 2017
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
	(in thousands)
Amortized intangible assets:
Customer relationships	$	139,479	$	40,337	$	99,142	$	110,691	$	27,977	$	82,714
Trade names	27,123		12,224		14,899		23,256		8,691		14,565
Non-compete agreements	3,064		1,221		1,843		1,160		608		552
Distributor agreements	363		188		175		355		158		197
Supplier partner program	3,583		456		3,127		3,583		98		3,485
Encryption key library	19,900		2,280		17,620		—		—		—
Total intangibles	$	193,512	$	56,706	$	136,806	$	139,045	$	37,532	$	101,513

During fiscal year 2018, the Company acquired customer relationships, trade names, intellectual property, non-compete agreements and an encryption key library related to the acquisition of POS Portal.

The weighted-average amortization period for all intangible assets was approximately 10 years for years ended June 30, 2018, 2017 and 2016, respectively. Amortization expense for the years ended June 30, 2018, 2017 and 2016 was $20.7 million, $15.5 million and $9.8 million, respectively, all of which relates to selling, general and administrative costs, not the cost of selling goods, and has been presented as such in the accompanying Consolidated Income Statements.

Estimated future amortization expense is as follows:



	Amortization Expense
	(in thousands)
Year Ended June 30,
2019	$	18,920
2020	18,308
2021	18,200
2022	16,564
2023	15,591
Thereafter	49,223
Total	$	136,806