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Intangible Assets (Tables)
12 Months Ended
Jun. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Intangible Assets
Intangible assets consisted of the following:
Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Weighted
Average
Useful
Life
June 28, 2024
Customer relationships$342,610 $(155,903)$186,707 12.2 years
Licensing agreements and patents4,162 (2,254)1,908 5.0 years
Completed technologies122,680 (62,975)59,705 9.4 years
Other3,238 (1,046)2,192 5.0 years
$472,690 $(222,178)$250,512 
June 30, 2023
Customer relationships$349,120 $(130,756)$218,364 12.1 years
Licensing agreements and patents4,162 (1,423)2,739 5.0 years
Completed technologies134,983 (60,680)74,303 8.0 years
Backlog410 (325)85 2.0 years
Other3,236 (676)2,560 5.0 years
$491,911 $(193,860)$298,051 
Estimated Future Amortization Expense for Acquired Intangible Assets
Estimated future amortization expense for intangible assets remaining at June 28, 2024 is as follows:
Fiscal YearTotals
2025$42,836 
202638,199 
202735,093 
202831,169 
202927,874 
Thereafter73,949 
Total future amortization expense$249,120 
Estimated salvage value of identified intangible assets1,392 
Net carrying amount$250,512 
The Company reviews net intangible assets with finite lives for impairment when an event occurs indicating the potential for impairment. Based on the Company’s last assessment, the Company believes that the carrying values of net intangible assets were recoverable as of June 28, 2024. However, if business conditions deteriorate, the Company may be required to record impairment losses, and or increase the amortization of intangibles in the future. Any impairment charges that the Company may record in the future could be material to the results of operations and financial condition.