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Goodwill and Intangible Assets
 12 Months Ended
Dec. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
Goodwill is recorded when the purchase price of an acquisition exceeds the fair value of the net tangible and identified intangible assets acquired.
The following table presents details of the Company’s goodwill for the year ended December 28, 2019 (in thousands):
Balance as of December 29, 2018
$
227,231

Foreign currency translation adjustments
(8,299
)
Measurement period adjustments
30,916

Balance as of December 28, 2019
$
249,848



The gross carrying amount of goodwill may change due to the effects of foreign currency fluctuations as a portion of these assets are denominated in foreign currency. To date, the Company has zero accumulated impairment loss on goodwill.
Intangible Assets

The following table presents details of the Company’s intangible assets as of December 28, 2019 and December 29, 2018 (in thousands):
 
December 28, 2019
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Weighted Average Remaining Useful Life (In Years)
Intangible assets with finite lives:
 
 
 
 
 
 
 
Trade names
$
1,000

 
$
(1,000
)
 
$
—

 
NMF*
Customer relationships and backlog
155,942

 
(68,119
)
 
87,823

 
5.8
Developed technology
179,593

 
(97,070
)
 
82,523

 
3.5
Total intangible assets
$
336,535

 
$
(166,189
)
 
$
170,346

 
 
*NMF = Not meaningful
 
December 29, 2018
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Weighted Average Remaining Useful Life (In Years)
Intangible assets with finite lives:
 
 
 
 
 
 
 
Trade names
$
1,000

 
$
(250
)
 
$
750

 
NMF*
Customer relationships and backlog
158,110

 
(42,478
)
 
115,632

 
6.5
Developed technology
166,355

 
(67,368
)
 
98,987

 
3.8
Total intangible assets with finite lives
$
325,465

 
$
(110,096
)
 
$
215,369

 
 
Acquired in-process technology
17,750

 
—

 
17,750

 
 
Total intangible assets
$
343,215

 
$
(110,096
)
 
$
233,119

 


*NMF = Not meaningful
In connection with the Acquisition, the Company acquired intangible assets for a total of $200.7 million, which is included in the gross carrying amount of intangible assets as of each of the periods ended December 28, 2019 and December 29, 2018. See Note 7, "Business Combination" to the Notes to Consolidated Financial Statements for more information.
The gross carrying amount of intangible assets and the related amortization expense of intangible assets may change due to the effects of foreign currency fluctuations as a portion of these assets are denominated in foreign currency. Amortization expense was $59.9 million and $52.8 million for the years ended December 28, 2019 and December 29, 2018, respectively.
Intangible assets are carried at cost less accumulated amortization. Amortization expenses are recorded to the appropriate cost and expense categories. During the year ended December 28, 2019, the Company transferred $17.8 million of its in-process technology to developed technology, which is being amortized over a useful life of five years.
The following table summarizes the Company’s estimated future amortization expense of intangible assets with finite lives as of December 28, 2019 (in thousands):
 
 
 
Fiscal Years
 
Total
 
2020
 
2021
 
2022
 
2023
 
2024 and Thereafter
Total future amortization expense
$
170,346

 
$
47,681

 
$
35,275

 
$
32,755

 
$
26,876

 
$
27,759