Goodwill and intangible assets

3 Months Ended

Oct. 02, 2021

3. Goodwill and intangible assets

Goodwill

The following table presents the change in goodwill by reportable segment for the three months ended October 2, 2021.


	Electronic
	Components		Farnell		Total

	(Thousands)
Carrying value at July 3, 2021 ⁽¹⁾	$	310,582	$	527,523	$	838,105
Foreign currency translation		(3,489)		(10,663)		(14,152)
Carrying value at October 2, 2021 ⁽¹⁾	$	307,093	$	516,860	$	823,953

(1)	Includes accumulated impairments of $1,482,677 from prior fiscal years.

Intangible Assets

The following table presents the Company’s acquired intangible assets at October 2, 2021 and July 3, 2021, respectively.


	October 2, 2021						July 3, 2021
	Acquired		Accumulated		Net Book		Acquired		Accumulated		Net Book
	Amount		Amortization		Value		Amount⁽¹⁾		Amortization		Value

	(Thousands)
Customer related	$	318,429	$	(307,121)	$	11,308	$	324,416	$	(312,392)	$	12,024
Trade name		56,024		(46,340)		9,684		57,184		(45,019)		12,165
Technology and other		56,697		(54,615)		2,082		57,809		(53,459)		4,350
	$	431,150	$	(408,076)	$	23,074	$	439,409	$	(410,870)	$	28,539

⁽¹⁾Acquired amount reduced by impairment of $17,473 from prior fiscal years.

Intangible asset amortization expense was $5.2 million and $20.1 million for the first quarters of fiscal 2022 and 2021, respectively.

The following table presents the estimated future amortization expense for the remainder of fiscal 2022 and the next five fiscal years (in thousands):


Fiscal Year
Remainder of fiscal 2022	$	10,037
2023		6,534
2024		3,191
2025		1,472
2026		1,472
2027		368
Total	$	23,074