Intangible Assets

9 Months Ended

Mar. 31, 2021

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, 2021 and June 30, 2020:


	Gross Carrying Amount		Accumulated Amortization		Effect of Currency Translation		Net Carrying Amount
	(Dollars in Thousands)
March 31, 2021:
Technology	$	55,288	$	(17,786)	$	614	$	38,116
Customer relationships	12,038		(4,277)		119		7,880
Non-compete agreements	553		(553)		—		—
Total	$	67,879	$	(22,616)	$	733	$	45,996
June 30, 2020:
Technology	$	51,269	$	(13,245)	$	(842)	$	37,182
Customer relationships	9,148		(3,171)		(308)		5,669
Non-compete agreements	553		(553)		—		—
Total	$	60,970	$	(16,969)	$	(1,150)	$	42,851

Total amortization expense related to intangible assets is included in cost of license revenue (for technology) and general and administrative expense (for customer relationships and non-compete agreements) and amounted to approximately $2.1 million and $1.9 million during the three months ended March 31, 2021 and 2020, respectively, and $5.7 million and $4.7 million during the nine months ended March 31, 2021 and 2020, respectively.

Future amortization expense as of March 31, 2021 is expected to be as follows:


Year Ended June 30,	Amortization Expense
	(Dollars in Thousands)
2021	$	2,005
2022	8,137
2023	8,118
2024	7,575
2025	7,490
Thereafter	12,671
Total	$	45,996