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Goodwill and Intangible Assets
12 Months Ended
Jan. 31, 2021
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 IntegrityWireless and SensingProtectionTotal
Balance at January 26, 2020$274,085 $72,128 $4,928 $351,141 
Balance at January 31, 2021$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. The reporting units are the same as the operating segments, which aggregate into a single reportable segment (see Note 16 on segment information). For fiscal year 2020, the Company performed a quantitative assessment that demonstrated that the fair value of the reporting units was higher than their respective carrying values. For fiscal years 2021 and 2019, the Company performed a qualitative assessment and concluded that it was more likely than not that the fair value of each of the three reporting units exceeded its carrying value. As of January 31, 2021 and January 26, 2020, there were no indications of impairment of the Company's goodwill balances, and no impairment to goodwill was recorded during fiscal years 2021, 2020 or 2019.
Purchased Intangibles
The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions and technology licenses purchased, which are amortized over their estimated useful lives:
 January 31, 2021January 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
$29,300 $(17,554)$11,746 $82,857 $(63,434)$19,423 
Customer relationships— — — 6,000 (5,411)589 
Total finite-lived intangible assets$29,300 $(17,554)$11,746 $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:
(in thousands)January 31, 2021January 26, 2020January 27, 2019
Core technologies$7,676 $14,263 $20,916 
Customer relationships589 2,283 5,733 
Total amortization expense$8,265 $16,546 $26,649 
Future amortization expense of finite-lived intangible assets is expected as follows:
(in thousands) 
To be recognized in:Total
Fiscal year 2022$4,942 
Fiscal year 20234,002 
Fiscal year 20241,676 
Fiscal year 2025288 
Fiscal year 2026288 
Thereafter550 
Total expected amortization expense$11,746 
The following table sets forth the Company’s indefinite-lived intangible assets resulting from additions to IPR&D:
(in thousands)Net Carrying Amount
Value at January 27, 2019$2,300 
Transfers to core technologies(2,300)
Value at January 26, 2020$— 
Value at January 31, 2021$— 
The Company reviews indefinite-lived intangible assets for impairment during the fourth quarter of each fiscal year by comparing the carrying amount of the asset to the future discounted cash flows that the asset is expected to generate. There was no impairment to the Company's indefinite-lived intangible assets during fiscal years 2021, 2020 or 2019. During the fourth quarter of fiscal year 2020, the IPR&D acquired by the Company in connection with the Aptovision Technologies, Inc. acquisition became fully developed and was, therefore, transferred to finite-lived intangible assets as part of core technologies.