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Other Intangible Assets
3 Months Ended
Sep. 28, 2013
Other Intangible Assets

NOTE 6. OTHER INTANGIBLE ASSETS

In connection with our sale of the Zurich Business during the first quarter of fiscal year 2014, we transferred certain of our other intangible assets to II-VI. As of September 12, 2013, the date of the sale, and June 29, 2013, these other intangible assets had no carrying value. For the three months ended September 29, 2012, we recorded $0.1 million in amortization related to these intangible assets, which has been reclassified to discontinued operations in the condensed consolidated statements of operations.

 

In connection with our acquisition of Opnext on July 23, 2012, we recorded $16.4 million in other intangible assets as our estimate of the fair value of acquired intangible assets. The intangible assets acquired from Opnext consist of $8.7 million of developed technology with an estimated weighted average useful life of 6 years, $0.2 million of contract backlog with an estimated weighted average useful life of 1 year, $4.9 million of customer relationships with an estimated weighted average useful life of 11 years, and $2.7 million of trademarks and other with an estimated weighted average useful life of 6 years.

During the first quarter of fiscal year 2013, we determined that a portion of the technology we acquired in connection with our acquisition of Mintera in July 2010 was redundant, following the acquisition of Opnext and its product lines. We recorded $0.9 million for the impairment loss related to these intangibles in our condensed consolidated statements of operations for the three months ended September 29, 2012.

The following table summarizes the activity related to our intangible assets for the three months ended September 28, 2013:

 

     Core and      Development                                    
     Current      and Supply      Customer      Patent      Other               
     Technology      Agreements      Relationships      Portfolio      Intangibles      Amortization     Total  
     (Thousands)  

Balance at June 29, 2013

   $ 8,333       $ 4,556       $ 5,198       $ 915       $ 3,338       $ (12,107   $ 10,233   

Amortization

     —           —           —           —           —           (422     (422

Translations and adjustments

     38         58         —           —           —           —          96   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Balance at September 28, 2013

   $ 8,371       $ 4,614       $ 5,198       $ 915       $ 3,338       $ (12,529   $ 9,907