GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Dec. 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 December 27, 2020 and June 28, 2020. As of December 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:

	December 27, 2020						June 28, 2020
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Customer relationships	$	630,251	$	(557,001)	$	73,250	$	630,137	$	(532,550)	$	97,587
Existing technology	669,245		(657,370)		11,875		668,992		(654,382)		14,610
Patents and other intangible assets	120,304		(49,339)		70,965		98,342		(42,007)		56,335
Total intangible assets	$	1,419,800	$	(1,263,710)	$	156,090	$	1,397,471	$	(1,228,939)	$	168,532

The Company recognized $17.6 million and $16.5 million in intangible asset amortization expense during the three months ended December 27, 2020 and December 29, 2019, respectively. The Company recognized $34.5 million and $32.7 million in intangible asset amortization expense during the six months ended December 27, 2020 and December 29, 2019, respectively.

The estimated future amortization expense of intangible assets as of December 27, 2020, is reflected in the table below. The table excludes $14.5 million of capitalized costs for internal-use software that have not been placed into service.

Fiscal Year	Amount
	(in thousands)
2021 (remaining 6 months)	$	35,370
2022	66,713
2023	20,983
2024	11,135
2025	5,756
Thereafter	1,606
	$	141,563