Goodwill and Intangible Assets

3 Months Ended

Apr. 26, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The carrying amounts of goodwill by applicable reporting unit were as follows:

(in thousands)	Signal Integrity		Wireless and Sensing		Protection		Total
Balance at January 26, 2020	$	274,085	$	72,128	$	4,928	$	351,141
Balance at April 26, 2020	$	274,085	$	72,128	$	4,928	$	351,141

Goodwill is not amortized, but is tested for impairment at the reporting unit level using either a qualitative or quantitative assessment on an annual basis during the fourth quarter of each fiscal year, and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair market value of the reporting unit. As of April 26, 2020, there was no indication of impairment of the Company's goodwill balances.

Purchased Intangibles

The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions, which are amortized over their estimated useful lives:

		April 26, 2020							January 26, 2020
(in thousands)	Estimated Useful Life	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Core technologies	3-8 years	$	43,300	$	(26,350	)	$	16,950	$	82,857	$	(63,434	)	$	19,423
Customer relationships	3 years	4,000		(3,778		)	222		6,000		(5,411		)	589
Total finite-lived intangible assets		$	47,300	$	(30,128	)	$	17,172	$	88,857	$	(68,845	)	$	20,012

 

Amortization expense of finite-lived intangible assets recorded in the Statements of Income for each period was as follows:

	Three Months Ended
(in thousands)	April 26, 2020		April 28, 2019
Core technologies	$	2,473	$	4,160
Customer relationships	367		983
Total amortization expense	$	2,840	$	5,143

Future amortization expense of finite-lived intangible assets is expected as follows:

(in thousands)
Fiscal Year Ending:	Core Technologies		Customer Relationships		Total
Fiscal year 2021 (remaining nine months)	$	5,204	$	222	$	5,426
Fiscal year 2022	4,942		—		4,942
Fiscal year 2023	4,002		—		4,002
Fiscal year 2024	1,676		—		1,676
Fiscal year 2025	287		—		287
Thereafter	839		—		839
Total expected amortization expense	$	16,950	$	222	$	17,172