XML 27 R15.htm IDEA: XBRL DOCUMENT v3.6.0.2
GOODWILL AND INTANGIBLE ASSETS
6 Months Ended
Dec. 25, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS
Goodwill
The balance of goodwill is approximately $1.4 billion as of December 25, 2016 and June 26, 2016. As of December 25, 2016, $61.1 million of the goodwill balance is tax deductible and the remaining balance is not tax deductible due to purchase accounting and applicable foreign law.
Intangible Assets
The following table provides the Company’s intangible assets as of December 25, 2016:
 
Gross
 
Accumulated
Amortization
 
Net
(in thousands)
Customer relationships
$
615,167

 
$
(333,561
)
 
$
281,606

Existing technology
643,200

 
(444,018
)
 
199,182

Patents
36,553

 
(29,970
)
 
6,583

Other intangible assets
36,114

 
(35,588
)
 
526

Total intangible assets
$
1,331,034

 
$
(843,137
)
 
$
487,897


The following table provides the Company’s intangible assets as of June 26, 2016:
 
Gross
 
Accumulated
Amortization
 
Net
(in thousands)
Customer relationships
$
615,272

 
$
(300,711
)
 
$
314,561

Existing technology
643,433

 
(401,036
)
 
242,397

Patents
36,053

 
(28,701
)
 
7,352

Other intangible assets
36,114

 
(35,503
)
 
611

Total intangible assets
$
1,330,872

 
$
(765,951
)
 
$
564,921


The Company recognized $38.6 million and $39.3 million in intangible asset amortization expense during the three months ended December 25, 2016 and December 27, 2015, respectively. The Company recognized $77.3 million and $78.3 million in intangible asset amortization expense during the six months ended December 25, 2016 and December 27, 2015, respectively.
The estimated future amortization expense of intangible assets, excluding those with indefinite lives, as of December 25, 2016 was as follows:
Fiscal Year
Amount
 
(in thousands)
2017 (remaining 6 months)
$
77,275

2018
153,446

2019
115,152

2020
50,332

2021
47,687

Thereafter
44,005

 
$
487,897