XML 23 R18.htm IDEA: XBRL DOCUMENT v3.19.3
GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Sep. 29, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Goodwill
The balance of goodwill is approximately $1.5 billion as of September 29, 2019 and June 30, 2019, respectively. As of September 29, 2019, $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:
 
September 29, 2019
 
June 30, 2019
 
Gross
 
Accumulated
Amortization
 
Net
 
Gross
 
Accumulated
Amortization
 
Net
 
(in thousands)
Customer relationships
$
630,129

 
$
(495,659
)
 
$
134,470

 
$
630,165

 
$
(483,204
)
 
$
146,961

Existing technology
669,318

 
(649,512
)
 
19,806

 
669,399

 
(647,837
)
 
21,562

Patents and other intangible assets
131,724

 
(79,744
)
 
51,980

 
126,235

 
(77,808
)
 
48,427

Total intangible assets
$
1,431,171

 
$
(1,224,915
)
 
$
206,256

 
$
1,425,799

 
$
(1,208,849
)
 
$
216,950

During the three months ended September 29, 2019 and September 23, 2018, the Company recognized $16.2 million and $36.4 million, respectively, in intangible asset amortization expense.
The estimated future amortization expense of intangible assets as of September 29, 2019, is reflected in the table below. The table excludes $14.6 million of capitalized costs for intangible assets that have not been placed into service.
Fiscal Year
Amount
 
(in thousands)
2020 (remaining 9 months)
$
48,497

2021
62,190

2022
57,891

2023
13,315

2024
6,955

Thereafter
2,852

 
$
191,700