Goodwill and Intangible Assets

9 Months Ended

Jul. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table outlines changes to the carrying amount of goodwill (in thousands):

	Goodwill
Balance at September 24, 2021	$	340,694
Acquired goodwill (1)	31,638
Translation adjustments	(4,050)
Balance at July 1, 2022	$	368,282

(1)     Refer to Note 16 "Business Combination" for additional information related to our acquired goodwill.

Intangible Assets

Our intangible assets are stated at their original cost less accumulated amortization, and principally consist of acquired patents, technology, customer relationships and contracts, and trademarks. Intangible assets subject to amortization consisted of the following (in thousands):

	July 1, 2022						September 24, 2021
Intangible Assets	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Acquired patents and technology	$	361,497	$	(252,896)	$	108,601	$	343,280	$	(233,789)	$	109,491
Customer relationships	66,178		(55,717)		10,461		65,822		(52,730)		13,092
Other intangible assets	23,012		(22,823)		189		22,972		(22,665)		307
Total	$	450,687	$	(331,436)	$	119,251	$	432,074	$	(309,184)	$	122,890

During the fiscal year-to-date period ended July 1, 2022, we purchased various patents for purchase consideration of $11.5 million and upon acquisition, these intangible assets had a weighted-average useful life of 16.0 years. These intangible assets facilitate our R&D efforts, technologies, and potential product offerings.

We also acquired various identifiable intangible assets, which primarily consisted of developed technology, as a part of the business combination completed during the second quarter of fiscal 2022. Refer to Note 16, "Business Combination" for additional information on this transaction.

Amortization expense for our intangible assets is included in cost of licensing, cost of products and services, R&D, S&M, and G&A expenses in our condensed consolidated statements of operations. Amortization expense was $6.6 million and $7.3 million in the third quarter of fiscal 2022 and 2021, respectively, and $22.2 million and $21.9 million in the fiscal year-to-date period ended July 1, 2022 and June 25, 2021, respectively. As of July 1, 2022, expected amortization expense of our intangible assets in future fiscal periods was as follows (in thousands):

Fiscal Year	Amortization Expense
Remainder of 2022	$	7,045
2023	26,083
2024	23,954
2025	8,884
2026	7,993
Thereafter	45,292
Total	$	119,251