GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS:

Changes in the carrying amount of goodwill are presented below:






Balance at June 30, 2024	$	766,653


Foreign currency translation	(749)
Balance at December 31, 2024	$	765,904

Components of intangible assets were as follows:


	December 31, 2024		June 30, 2024
Cost:
Technology	$	153,854	$	153,562
Customer relationships	470,844		469,583
Trade name	105,670		105,670
Naming rights	66,698		66,698
Total cost	$	797,066	$	795,513
Accumulated amortization:
Technology	$	(146,659)	$	(144,870)
Customer relationships	(459,392)		(431,101)
Trade name	(43,454)		(39,932)
Naming rights	(10,234)		(8,117)
Total accumulated amortization	$	(659,739)	$	(624,020)
Intangible assets, net	$	137,327	$	171,493

Amortization expense for intangible assets was approximately $12,023 and $24,963 for the three months ended December 31, 2024 and 2023, respectively. Amortization expense for intangible assets was approximately $35,719 and $50,673 for the six months ended December 31, 2024 and 2023, respectively.

The following is a schedule of future amortization expense as of December 31, 2024:


2025 (remaining six months)	$	11,919
2026	19,650
2027	12,897
2028	12,368
2029	12,244
Thereafter	68,249
	$	137,327

PAYCOR HCM, INC. 10-Q