Goodwill is an intangible asset that arises when a company acquires an existing business or assets (net of assumed liabilities) which comprise a business. In general, the amount of goodwill recorded in an acquisition is calculated as the purchase price of the business minus the fair market value of the tangible assets and the identifiable intangible assets, net of the assumed liabilities. Goodwill and intangibles can also be established by push-down accounting.

The carrying value of goodwill and other purchased intangibles are described below (dollar amounts in thousands):


			March 31, 2026										June 30, 2025
	Estimated Useful Lives (Years)	Remaining Weighted-Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Accumulated Impairment			Net Book Value
Identifiable intangible assets:
Existing customer relationships	4 - 15	4.3	$	136,274	$	(81,402	)	$	—		$	54,872	$	116,568	$	(66,215	)	$	—		$	50,353
Developed technology	4	2.7		24,136		(15,631	)		—			8,505		21,836		(13,362	)		—			8,474
Non-compete and other	3 - 5	1.5		2,310		(2,307	)		—			3		2,310		(2,306	)		—			4
Employment agreement	1 - 3	0.0		295		(295	)		—			—		295		(295	)		—			—
Intangibles subject to amortization				163,015		(99,635	)		—			63,380		141,009		(82,178	)		—			58,831
Trade names and trademarks	Indefinite	Indefinite		75,458		—			(1,290	)		74,168		69,658		—			(1,290	)		68,368
Domain name	Indefinite	Indefinite		8,629		—			—			8,629		8,615		—			—			8,615
In-process research and development	Indefinite	Indefinite		1,500		—			—			1,500		1,500		—			—			1,500
Identifiable intangible assets			$	248,602	$	(99,635	)	$	(1,290	)	$	147,677	$	220,782	$	(82,178	)	$	(1,290	)	$	137,314

Goodwill	Indefinite	Indefinite	$	245,099	$	—		$	(1,364	)	$	243,735	$	230,014	$	—		$	(1,364	)	$	228,650

The Company's intangible assets are subject to amortization except for trade names, trademarks, domain names and in-process research and development assets, which have indefinite lives. Amortization expense related to the Company's intangible assets was $7.0 million and $4.0 million for the three months ended March 31, 2026 and 2025, respectively, and $17.4 million and $11.7 million for the nine months ended March 31, 2026 and 2025, respectively. For the presented periods, amortization expense allocable to cost of sales was not significant.

We recorded a non-recurring impairment charge of $2.7 million (goodwill and indefinite-lived intangible assets) in fiscal 2018 related to Goldline. Other than the impairment charge related to Goldline, we have not recorded any impairment of goodwill or indefinite-lived intangible assets.