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Note 6 - Intangible Assets

12 Months Ended

Dec. 30, 2023

Intangible Assets Disclosure [Text Block]

Note 6 - Intangible Assets and Goodwill

In connection with our previous acquisitions, we have recorded identifiable intangible assets related to existing technology, customer relationships, trade names, and trademarks, based on guidance for determining fair value under the provisions of ASC 820, "Fair Value Measurements." We are amortizing the intangible assets using the straight-line method over their estimated useful lives. Additionally, we have entered into license agreements for third-party technology and recorded them as intangible assets. These licenses are being amortized to Research and development expense over their estimated useful lives. No impairment charges relating to acquired intangible assets were recorded for fiscal 2023, 2022, or 2021.

The following tables summarize the details of our Intangible assets, net as of December 30, 2023 and December 31, 2022:

	*December 30, 2023*
(In thousands)	*Weighted Average Amortization Period (in years)*	*Gross*		*Accumulated Amortization*			*Intangible assets, net*
Existing technology	5.1	$	124,487	$	(115,085	)	$	9,402
Customer relationships	6.1		32,734		(25,909	)		6,825
Trade name / trademarks	10.0		1,500		(319	)		1,181
Licensed technology	6.2		7,127		(3,561	)		3,566
Total identified intangible assets		$	165,848	$	(144,874	)	$	20,974

	*December 31, 2022*
(In thousands)	*Weighted Average Amortization Period (in years)*	*Gross*		*Accumulated Amortization*			*Intangible assets, net*
Existing technology	5.1	$	124,487	$	(113,157	)	$	11,330
Customer relationships	6.1		32,734		(24,509	)		8,225
Trade name / trademarks	10.0		1,500		(169	)		1,331
Licensed technology	6.3		6,671		(2,487	)		4,184
Total identified intangible assets		$	165,392	$	(140,322	)	$	25,070

We recorded amortization expense related to intangible assets on the Consolidated Statements of Operations as presented in the following table:

	*Year Ended*
	*December 30,*		*December 31,*		*January 1,*
(In thousands)	*2023*		*2022*		*2022*
Research and development	$	1,074	$	1,054	$	901
Amortization of acquired intangible assets		3,478		3,778		2,613
	$	4,552	$	4,832	$	3,514

The annual expected amortization expense of acquired intangible assets is as follows:

Fiscal year	(In thousands)
2024	$	4,417
2025		4,370
2026		4,362
2027		4,268
2028		3,125
Thereafter		432
Total	$	20,974

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the underlying net tangible and intangible assets. The goodwill balance at December 30, 2023 is comprised of approximately $315.4 million from prior acquisitions. No impairment charges relating to goodwill were recorded for fiscal 2023, 2022, or 2021.