GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Mar. 27, 2022

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 March 27, 2022 and June 27, 2021. As of March 27, 2022 and June 27, 2021, $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:

	March 27, 2022						June 27, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Customer relationships	$	633,506	$	(617,790)	$	15,716	$	630,303	$	(581,406)	$	48,897
Existing technology	677,455		(663,208)		14,247		669,359		(659,898)		9,461
Patents and other intangible assets	160,889		(77,546)		83,343		132,774		(58,767)		74,007
Total intangible assets	$	1,471,850	$	(1,358,544)	$	113,306	$	1,432,436	$	(1,300,071)	$	132,365

The Company recognized $20.4 million and $17.9 million in intangible asset amortization expense during the three months ended March 27, 2022 and March 28, 2021, respectively. The Company recognized $58.9 million and $52.3 million in intangible asset amortization expense during the nine months ended March 27, 2022 and March 28, 2021, respectively.

The estimated future amortization expense of intangible assets as of March 27, 2022, is reflected in the table below. The table excludes $19.9 million of capitalized costs for internal-use software that have not been placed into service.

Fiscal Year	Amount
	(in thousands)
2022 (remaining 3 months)	$	17,977
2023	32,788
2024	20,764
2025	11,154
2026	5,272
Thereafter	5,480
	$	93,435