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SEC Filings

10-K/A
ACETO CORP filed this Form 10-K/A on 11/09/2017
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ACETO CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

YEARS ENDED JUNE 30, 2017, 2016 AND 2015

(in thousands, except per-share amounts)

 

(6) Goodwill and Other Intangible Assets

 

As of June 30, 2017 and June 30, 2016, there was goodwill of $236,970 and $67,871, respectively.

 

Changes in the Company's goodwill during 2017 and 2016 are as follows:

 

   Human
Health
Segment
   Pharmaceutical
Ingredients
Segment
   Performance
Chemicals
Segment
   Total
Goodwill
 
Balance as of June 30, 2015  $66,039   $1,650   $181   $67,870 
Changes in foreign currency exchange rates   -    1    -    1 
Balance as of June 30, 2016   66,039    1,651    181    67,871 
Acquisitions   169,071    -    -    169,071 
Changes in foreign currency exchange rates   -    23    5    28 
Balance as of June 30, 2017  $235,110   $1,674   $186   $236,970 

 

Intangible assets subject to amortization as of June 30, 2017 and 2016 were as follows:

 

  

Gross
Carrying

Value

  

Accumulated

Amortization

  

Net Book

Value

 
June 30, 2017               
Customer relationships  $110,787   $13,968   $96,819 
Trademarks   2,218    2,195    23 
Product rights and related intangibles   221,335    37,677    183,658 
License agreements   6,537    6,035    502 
EPA registrations and related data   14,307    11,011    3,296 
   $355,184   $70,886   $284,298 

 

   Gross
Carrying
Value
   Accumulated
Amortization
   Net Book
Value
 
June 30, 2016               
Customer relationships  $21,761   $7,815   $13,946 
Trademarks   1,868    1,800    68 
Product rights and related intangibles   83,048    23,511    59,537 
License agreements   6,611    5,531    1,080 
EPA registrations and related data   13,591    9,927    3,664 
Technology-based intangibles   155    140    15 
   $127,034   $48,724   $78,310 

 

Intangible assets with definitive useful lives are amortized using the straight-line method over their estimated useful lives. The straight-line method is utilized as it best reflects the use of the asset. The estimated useful lives of customer relationships, trademarks, product rights and related intangibles, license agreements and EPA registrations are 7-11 years, 3-4 years, 3-14 years, 6-11 years and 10 years respectively.

 

As of June 30, 2017 and June 30, 2016, the Company also had $783 and $761, respectively, of intangible assets pertaining to trademarks which have indefinite lives and are not subject to amortization. The change in trademarks with indefinite lives is attributable to foreign currency exchange rates used to translate the financial statements of foreign subsidiaries.

 

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