Goodwill and Intangible Assets (Tables)

12 Months Ended

Jun. 27, 2020

Activity and goodwill balances for the fiscal years ended June 27, 2020 and June 29, 2019 were as follows:

The useful lives of amortizing intangible assets are as follows:

Intangible assets consisted of the following:



	June 27, 2020						June 29, 2019
	Original Cost		Accumulated Amortization		Net		Original Cost		Accumulated Amortization		Net
	(in thousands)
Intellectual property	$	525,196	$	458,418	$	66,778	$	487,346	$	445,558	$	41,788
Customer relationships	118,335		108,603		9,732		116,505		105,901		10,604
Trade name	11,374		9,265		2,109		9,974		8,914		1,060
Backlogs	170		25		145		—		—		—
Patent	2,500		2,500		—		2,500		2,500		—
Total amortizable intangible assets	657,575		578,811		78,764		616,325		562,873		53,452
In-process Research and Development	9,195		—		9,195		2,790		—		2,790
Total intangible assets	$	666,770	$	578,811	$	87,959	$	619,115	$	562,873	$	56,242

The following table presents the amortization expense of intangible assets and its presentation in the Consolidated Statements of Income:



	For the Year Ended
	June 27, 2020		June 29, 2019		June 30, 2018
	(in thousands)
Cost of goods sold	$	12,860	$	21,689	$	46,063
Intangible asset amortization	3,078		3,041		4,467
Total intangible asset amortization expenses	$	15,938	$	24,730	$	50,530

The following table represents the estimated future amortization expense of intangible assets as of June 27, 2020:



	Amount
Fiscal Year	(in thousands)
2021	$	19,279
2022	13,454
2023	12,970
2024	9,995
2025	9,716
Thereafter	13,350
Total amortizable intangible assets	$	78,764