GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Sep. 27, 2020

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 27, 2020 and June 28, 2020. As of September 27, 2020 and June 28, 2020, $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, other than goodwill:

	September 27, 2020						June 28, 2020
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Customer relationships	$	630,171	$	(544,753)	$	85,418	$	630,137	$	(532,550)	$	97,587
Existing technology	669,068		(655,826)		13,242		668,992		(654,382)		14,610
Patents and other intangible assets	108,326		(45,272)		63,054		98,342		(42,007)		56,335
Total intangible assets	$	1,407,565	$	(1,245,851)	$	161,714	$	1,397,471	$	(1,228,939)	$	168,532

The Company recognized $16.8 million and $16.2 million in intangible asset amortization expense during the three months ended September 27, 2020 and September 29, 2019, respectively.

The estimated future amortization expense of intangible assets as of September 27, 2020, is reflected in the table below. The table excludes $16.7 million of capitalized costs for intangible assets that have not been placed into service.

Fiscal Year	Amount
	(in thousands)
2021 (remaining 9 months)	$	50,270
2022	62,918
2023	17,275
2024	9,269
2025	4,577
Thereafter	697
	$	145,006