Acquired Developed Technology and Other Intangibles

9 Months Ended

Apr. 02, 2016

Acquired Developed Technology and Other Intangibles

Acquired Developed Technology and Other Intangibles

Note 9. Acquired Developed Technology and Other Intangibles

The following tables present details of the Company’s acquired developed technology, customer relationships and other intangibles (in millions):

As of April 2, 2016	Gross Carrying Amount		Accumulated Amortization			Net
Acquired developed technology	$	421.9	$	(385.1	)	$	36.8
Customer relationships	175.4		(144.0		)	31.4
Other	19.3		(18.9		)	0.4
Total intangibles subject to amortization	616.6		(548.0		)	68.6
In-process research and development assets	0.8		—			0.8
Total intangibles	$	617.4	$	(548.0	)	$	69.4

As of June 27, 2015	Gross Carrying Amount		Accumulated Amortization			Net
Acquired developed technology	$	418.9	$	(373.6	)	$	45.3
Customer relationships	178.7		(135.8		)	42.9
Other	19.5		(18.9		)	0.6
Total intangibles subject to amortization	617.1		(528.3		)	88.8
In-process research and development assets	1.8		—			1.8
Total intangibles	$	618.9	$	(528.3	)	$	90.6

During the first quarter of fiscal 2016, the Company completed its in-process research and development (“IPR&D”) project related to the fiscal 2014 acquisition of Trendium. Accordingly, $1.8 million was transferred from indefinite life intangible assets to acquired developed technology intangible assets with a useful life of thirty-six months.

The following table presents the amortization recorded relating to acquired developed technology, customer relationships and other intangibles (in millions):

	Three Months Ended				Nine Months Ended
	April 2, 2016		March 28, 2015		April 2, 2016		March 28, 2015
Amortization of acquired developed technologies	$	4.1	$	9.0	$	13.0	$	26.3
Amortization of other intangibles	3.6		4.8		11.1		14.7
Total amortization of intangible assets	$	7.7	$	13.8	$	24.1	$	41.0

Based on the carrying amount of acquired developed technology, customer relationships and other intangibles as of April 2, 2016, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows (in millions):

Fiscal Years
Remainder of 2016	$	7.6
2017	29.2
2018	20.8
2019	9.3
2020	1.3
Thereafter	0.4
Total amortization	$	68.6

The acquired developed technology, customer relationships and other intangibles balance are adjusted quarterly to record the effect of currency translation adjustments.