Intangible Assets (Policies)

9 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

We include in our amortizable intangible assets those intangible assets acquired in our business and asset acquisitions. We amortize acquired intangible assets with finite lives over their estimated economic lives, generally using the straight-line method. Each period, we evaluate the estimated remaining useful lives of acquired intangible assets to determine whether events or changes in circumstances warrant a revision to the remaining period of amortization. Acquired intangibles are removed from the accounts when fully amortized and no longer in use.

Intangible assets consisted of the following as of March 31, 2017 and June 30, 2016:



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Dollars in Thousands)
March 31, 2017:
Technology and patents	$	19,253	$	(2,917	)	$	16,336
In process research & development	3,097		—			3,097
Customer relationships	1,432		(118		)	1,314
Non-compete agreements	553		(77		)	476
Total	$	24,335	$	(3,112	)	$	21,223
June 30, 2016:
Technology and patents	$	3,696	$	(2,596	)	$	1,100
In process research & development	3,200		—			3,200
Customer relationships	700		—			700
Total	$	7,596	$	(2,596	)	$	5,000

Total amortization expense related to intangible assets is included in operating expenses and amounted to approximately $0.4 million and $0.5 million for the three and nine months ended March 31, 2017 and $0.1 million for the three and nine months ended March 31, 2016, respectively. Amortization expense is expected to be approximately $1.0 million in fiscal 2017, $2.1 million in fiscal 2018, $2.1 million in fiscal 2019, $2.1 million in fiscal 2020, $2.2 million in fiscal 2021, and $12.2 million thereafter.