Inventories consist of (in thousands):

 

		December 31, 2018				June 30, 2018
Raw materials		$	35,253			$	30,956
Finished goods			55,652				54,692
Inventories, net		$	90,905			$	85,648

 

 

Property and equipment consist of (in thousands): 

 

		December 31,				June 30,
		2018				2018
Land		$	7,065			$	7,065
Buildings and improvements			170,772				170,110
Machinery and equipment			118,487				107,625
Property and equipment, cost			296,324				284,800
Accumulated depreciation and amortization			(151,062	)			(139,452	)
Property and equipment, net		$	145,262			$	145,348

 

 

Intangible assets consist of (in thousands): 

 

		December 31,				June 30,
		2018				2018
Developed technology		$	497,546			$	305,303
Trade names			88,988				89,608
Customer relationships			209,674				212,228
Patents			1,850				1,401
Intangible assets			798,058				608,540
Accumulated amortization			(189,785	)			(162,208	)
Intangible assets, net		$	608,273			$	446,332

 

Changes to the carrying amount of net intangible assets for the months ended consist of (in thousands):

 

Beginning balance		$	446,332
Acquisitions			193,400
Other additions			409
Amortization expense			(29,354	)
Currency translation			(2,514	)
Ending balance		$	608,273

 

The estimated future amortization expense for intangible assets as of is as follows (in thousands):

 

2019 (remainder)		$	30,193
2020			59,752
2021			59,406
2022			57,746
2023			55,871
Thereafter			345,305
Total		$	608,273

 

 

Changes to the carrying amount of goodwill for the months ended consist of (in thousands):

 

		Protein Sciences				Diagnostics and Genomics				Total
Beginning balance		$	347,918			$	249,972			$	597,890
Acquisitions (Note 4)			13,554				99,027				112,581
Currency translation			(4,061	)			(55	)			(4,116	)
Ending balance		$	357,411			$	348,944			$	706,355

 

We evaluate the carrying value of goodwill in the 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 quantitative assessment for all of its reporting units during the quarter of fiscal The quantitative assessment indicated that all of the reporting units had substantial headroom as of

 

triggering events were identified during the months ended There has been impairment of goodwill since the adoption of Financial Accounting Standards Board (“FASB”) ASC guidance for goodwill and other intangibles on