| Selected Balance Sheet Data |
Note 3. Selected Balance Sheet Data: Inventories: Inventories consist of (in thousands): | | | | | | | | | March 31, | | June 30, | | | 2026 | | 2025 | Raw materials | | $ | 94,898 | | $ | 89,080 | Finished goods(1) | | | 111,890 | | | 106,188 | Inventories | | $ | 206,788 | | $ | 195,268 |
(1) Finished goods inventory of $5,613 and $5,822 is included within Other long-term assets in the respective March 31, 2026 and June 30, 2025. The inventory is included in long-term assets as it is forecasted to be sold after the 12 months subsequent to the Condensed Consolidated Balance Sheets dates. Property and Equipment: Property and equipment consist of (in thousands): | | | | | | | | | March 31, | | June 30, | | | 2026 | | 2025 | Land | | $ | 8,132 | | $ | 8,151 | Buildings and improvements | | | 258,172 | | | 254,355 | Machinery and equipment | | | 247,666 | | | 245,924 | Construction in progress | | | 19,837 | | | 23,420 | Property and equipment, cost | | | 533,807 | | | 531,850 | Accumulated depreciation and amortization | | | (300,817) | | | (286,131) | Property and equipment, net | | $ | 232,990 | | $ | 245,719 |
Intangible Assets: Intangible assets consist of (in thousands): | | | | | | | | | March 31, | | June 30, | | | 2026 | | 2025 | Developed technology | | $ | 578,976 | | $ | 620,062 | Tradenames | | | 94,340 | | | 152,648 | Customer relationships | | | 210,119 | | | 212,800 | Patents | | | 5,304 | | | 4,967 | Other intangibles | | | 7,144 | | | 7,174 | Definite-lived intangible assets | | | 895,883 | | | 997,651 | Accumulated amortization | | | (576,809) | | | (632,052) | Total intangible assets, net | | $ | 319,074 | | $ | 365,599 |
Changes to the carrying amount of net intangible assets for the period ended March 31, 2026 consist of (in thousands): | | | | | | March 31, | | | 2026 | Beginning balance | | $ | 365,599 | Other additions | | | 338 | Amortization expense | | | (46,561) | Currency translation | | | (302) | Ending balance | | $ | 319,074 |
Amortization expense related to intangible assets was as follows (in thousands): | | | | | | | | | | | | | | | Quarter Ended | | Nine Months Ended | | | March 31, | | March 31, | | | 2026 | | 2025 | | 2026 | | 2025 | Amortization expense | | $ | 15,534 | | $ | 19,158 | | $ | 46,561 | | $ | 58,267 |
The estimated future amortization expense for intangible assets as of March 31, 2026 is as follows (in thousands): | | | | Remainder 2026 | | $ | 15,219 | 2027 | | | 58,681 | 2028 | | | 54,950 | 2029 | | | 40,870 | 2030 | | | 26,911 | Thereafter | | | 122,443 | Total | | $ | 319,074 |
Goodwill: Changes to the carrying amount of goodwill for the period ended March 31, 2026 consist of (in thousands): | | | | | | | | | | | | | | Diagnostics and | | | | | Protein Sciences | | Spatial Biology | | Total | June 30, 2025 | | $ | 426,776 | | $ | 554,159 | | $ | 980,935 | Currency translation | | | (2,593) | | | (542) | | | (3,135) | March 31, 2026 | | $ | 424,183 | | $ | 553,617 | | $ | 977,800 |
We evaluate the carrying value of goodwill in the fourth quarter of each fiscal year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. The Company performed a qualitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2025. No indicators of impairment were identified as part of our assessment. Other Assets: Other assets consist of (in thousands): | | | | | | | | | March 31, | | June 30, | | | 2026 | | 2025 | Equity method investment in Wilson Wolf | | $ | 231,028 | | $ | 235,983 | Long-term inventory | | | 5,613 | | | 5,822 | Investment in Spear Bio | | | 15,000 | | | 15,000 | Notes receivable(1) | | | 8,119 | | | 2,184 | Other | | | 4,611 | | | 24,927 | Other assets | | $ | 264,371 | | $ | 283,916 |
| (1) | Amounts relate to the divestiture of our businesses held-for-sale. |
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