IDENTIFIED INTANGIBLE ASSETS

12 Months Ended

Dec. 28, 2024

IDENTIFIED INTANGIBLE ASSETS

IDENTIFIED INTANGIBLE ASSETS

NOTE 11  IDENTIFIED INTANGIBLE ASSETS

	As of
	December 28, 2024						December 30, 2023
	Gross		Accumulated				Gross		Accumulated
U.S. dollars in millions	Assets		Amortization		Net		Assets		Amortization		Net
Developed technology	$	3,705	$	2,384	$	1,321	$	3,705	$	2,008	$	1,697
Customer relationships & brands		786		498		288		786		430		356
Total	$	4,491	$	2,882	$	1,609	$	4,491	$	2,438	$	2,053

Amortization expenses recorded for developed technology and customer relationships and brands were recorded in cost of revenue and sales and marketing, respectively, in the consolidated statements of operations and comprehensive income (loss) for each year presented.

During the third quarter of 2024, we performed an impairment assessment of intangible assets and concluded that the sum of the expected future undiscounted cash flows expected to be generated by the intangible assets is substantially above their carrying amount and therefore no impairment was identified. The Company did not record any impairment of intangible assets for any of the periods presented.

The following table presents the amortization expenses recorded for these identified intangible assets and their weighted average useful lives:

	Year ended
							Weighted Average
U.S. dollars in millions	December 28, 2024		December 30, 2023		December 31, 2022		Useful Life
Developed technology	$	376	$	406	$	469	10
Customer relationships & brands		68		68		75	12
Total amortization expenses	$	444	$	474	$	544

The Company expects future amortization expenses for the next five years and thereafter to be as follows:

U.S. dollars in millions	2025		2026		2027		2028		2029		Thereafter		Total
Future amortization expenses	$	443	$	332	$	179	$	176	$	131	$	348	$	1,609