Goodwill and intangible assets

9 Months Ended

Apr. 02, 2022

3. Goodwill and intangible assets

Goodwill

The following table presents the change in goodwill by reportable segment for the nine months ended April 2, 2022.


	Electronic
	Components		Farnell		Total

	(Thousands)
Carrying value at July 3, 2021 ⁽¹⁾	$	310,582	$	527,523	$	838,105
Foreign currency translation		(9,057)		(23,664)		(32,721)
Carrying value at April 2, 2022 ⁽¹⁾	$	301,525	$	503,859	$	805,384

(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 April 2, 2022 and July 3, 2021, respectively.


	April 2, 2022						July 3, 2021
	Acquired		Accumulated		Net Book		Acquired		Accumulated		Net Book
	Amount		Amortization		Value		Amount⁽¹⁾		Amortization		Value

	(Thousands)
Customer related	$	311,226	$	(301,348)	$	9,878	$	324,416	$	(312,392)	$	12,024
Trade name		54,569		(49,486)		5,083		57,184		(45,019)		12,165
Technology and other		55,120		(54,106)		1,014		57,809		(53,459)		4,350
	$	420,915	$	(404,940)	$	15,975	$	439,409	$	(410,870)	$	28,539

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

Intangible asset amortization expense was $3.1 million and $5.3 million for the third quarters of fiscal 2022 and 2021, respectively, and $12.0 million and $35.7 million for the first nine months 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	$	3,059
2023		6,428
2024		3,176
2025		1,472
2026		1,472
2027		368
Total	$	15,975