INTANGIBLE ASSETS

12 Months Ended

Jun. 28, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

INTANGIBLE ASSETS

NOTE 10: INTANGIBLE ASSETS

Unless otherwise specified, all disclosures in this Note relate to Harris Corporation as of June 28, 2019 and exclude any information related to and any potential impact that has resulted or may result from the L3Harris Merger (as described in Note 1: Significant Accounting Policies under “Principles of Consolidation” and Note 26: Subsequent Events).

We assess the recoverability of the carrying value of our long-lived assets, including intangible assets with finite useful lives, whenever events or changes in circumstances indicate the carrying amount of the assets may not be recoverable.

Intangible assets are summarized below:

	June 28, 2019						June 29, 2018
	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(In millions)
Customer relationships	$	1,203	$	419	$	784	$	1,206	$	327	$	879
Developed technologies	206		136		70		208		119		89
Trade names	42		26		16		43		22		21
Other	2		2		—		2		2		—
Total intangible assets	$	1,453	$	583	$	870	$	1,459	$	470	$	989

Amortization expense related to intangible assets was $115 million, $117 million and $126 million in fiscal 2019, 2018 and 2017, respectively, including approximately $101 million, $101 million and $109 million, respectively, of amortization expense for intangible assets related to our acquisition of Exelis.

Future estimated amortization expense for intangible assets is as follows:

	(In millions)
Year 1	$	101
Year 2	101
Year 3	101
Year 4	101
Year 5	101
Thereafter	365
Total	$	870