Goodwill

12 Months Ended

Dec. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Acquisition-related Intangible Assets and Goodwill

Acquisition-related Intangible Assets

The following table summarizes Acquisition-related Intangible Assets:

	December 28, 2024						December 30, 2023
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(In millions)						(In millions)
Developed technology	$	13,408	$	(2,529)	$	10,879	$	13,390	$	(1,583)	$	11,807
Customer relationships	12,324		(5,124)		7,200		12,324		(3,755)		8,569
Customer backlog	809		(809)		—		809		(809)		—
Corporate trade name	65		(65)		—		65		(65)		—
Product trademarks	914		(225)		689		914		(147)		767
Intangible assets subject to amortization	27,520		(8,752)		18,768		27,502		(6,359)		21,143
In-process Research and Development (IPR&D) not subject to amortization	162		—		162		220		—		220
Total acquisition-related intangible assets	$	27,682	$	(8,752)	$	18,930	$	27,722	$	(6,359)	$	21,363

Acquisition-related intangible amortization expense was $2.4 billion and $2.8 billion in fiscal year 2024 and 2023, respectively. During the fourth quarter of fiscal year 2024, the Company determined that the fair value of certain IPR&D recorded within the Data Center segment was not recoverable resulting from actions related to the 2024 Restructuring Plan, and recorded an impairment charge of $58 million within Restructuring charges in the Company’s Consolidated Statement of Operations.

Based on the carrying value of acquisition-related intangibles recorded as of December 28, 2024, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for acquisition-related intangibles is expected to be as follows:

Fiscal Year	(In millions)
2025	$	2,225
2026	2,111
2027	1,993
2028	1,885
2029	1,659
2030 and thereafter	8,895
Total	$	18,768

Goodwill

The following table summarizes changes in the carrying amount of Goodwill:

	December 31, 2022		Acquisitions		December 30, 2023		Acquisitions		December 28, 2024
	(In millions)				(In millions)
Data Center	$	2,884	$	58	$	2,942	$	461	$	3,403
Client	—		18		18		108		126
Gaming	238		—		238		—		238
Embedded	21,055		9		21,064		8		21,072
Total	$	24,177	$	85	$	24,262	$	577	$	24,839

During the fourth quarter of fiscal years 2024 and 2023, the Company conducted its annual qualitative impairment tests of goodwill and concluded that there was no goodwill impairment with respect to its reporting units.