Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 17

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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)(377,310)Intangible assets, net$272,578 $299,057 Amortization expense for intangible assets was approximately $13.9 million and $9.9 million for the three months ended December 31, 2024 and 2023, respectively and $27.8 million and $18.1 million for the six months ended December 31, 2024 and 2023, respectively.

16

The following table presents the estimated future amortization expense related to intangible assets held as of December 31, 2024 (in thousands):Fiscal Years:Remainder of 2025$27,738 202653,030 202747,861 202845,634 202940,128 Thereafter58,187 Total future amortization expense$272,578 

8. Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consist of the following (in thousands): December 31, 2024June 30, 2024Accrued expenses$164,390 $149,046 Employee benefits248,985 332,518 Tax liabilities46,294 55,203 Customer deposits15,328 19,279 Derivative liabilities37,310 1,694 Other payables18,976 19,619 Total accrued expenses and other current liabilities$531,283 $577,359 

9. DebtCredit FacilityIn August 2024, the Company’s principal U.S. operating subsidiary, Atlassian US, Inc., entered into an amended and restated credit agreement (the "2024 Credit Agreement") which eliminated a term loan facility and provides for a $750 million senior unsecured revolving credit facility (the “2024 Credit Facility”). The 2024 Credit Agreement replaced the Company's prior credit agreement entered into in October 2020 (“2020 Credit Agreement”) which provided for a $1 billion senior unsecured delayed-draw term loan facility and a $500 million senior unsecured revolving credit facility.The 2024 Credit Facility bears interest, at the Company’s option, at a base rate or the Secured Overnight Financing Rate, plus, in each case, a spread of 0.875% to 1.50% per annum. In each case the applicable margin will be determined by the consolidated leverage ratio of the Company and its subsidiaries, or, following the Company’s one time option, the Company’s credit