GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Sep. 25, 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 September 25, 2022 and June 26, 2022. As of September 25, 2022 and June 26, 2022, $62.0 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 25, 2022						June 26, 2022
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Customer relationships	$	633,152	$	(628,075)	$	5,077	$	633,252	$	(627,376)	$	5,876
Existing technology	676,701		(665,506)		11,195		676,924		(664,278)		12,646
Patents and other intangible assets	188,277		(94,164)		94,113		167,821		(84,493)		83,328
Total intangible assets	$	1,498,130	$	(1,387,745)	$	110,385	$	1,477,997	$	(1,376,147)	$	101,850

The Company recognized $11.6 million and $19.1 million in intangible asset amortization expense during the three months ended September 25, 2022 and September 26, 2021, respectively.

The estimated future amortization expense of intangible assets as of September 25, 2022, is reflected in the table below. The table excludes $28.9 million of capitalized costs for internal-use software that have not been placed into service.

Fiscal Year	Amount
	(in thousands)
2023 (remaining 9 months)	$	28,451
2024	25,452
2025	14,626
2026	6,429
2027	4,103
Thereafter	2,469
	$	81,530