Acquired Developed Technology and Other Intangibles (Tables)

9 Months Ended

Mar. 30, 2024

Acquired Developed Technology and Other Intangibles

Schedule of 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 March 30, 2024	Gross Carrying Amount		Accumulated Amortization		Net
Acquired developed technology	$	438.0	$	(400.3)	$	37.7
Customer relationships	194.9		(189.8)		5.1
Other (1)	39.7		(39.5)		0.2
Total intangibles	$	672.6	$	(629.6)	$	43.0

As of July 1, 2023	Gross Carrying Amount		Accumulated Amortization		Net
Acquired developed technology	$	438.5	$	(390.2)	$	48.3
Customer relationships	195.2		(185.9)		9.3
Other (1)	39.8		(38.8)		1.0
Total intangibles	$	673.5	$	(614.9)	$	58.6

(1)Other intangibles consist of customer backlog, patents, proprietary know-how and trade secrets, trademarks and trade names.

Finite-lived Intangible Assets Amortization Expense

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
	March 30, 2024		April 1, 2023		March 30, 2024		April 1, 2023
Cost of revenues	$	3.5	$	5.9	$	10.4	$	18.7
Operating expenses	1.5		2.1		5.0		6.5
Total amortization of intangible assets	$	5.0	$	8.0	$	15.4	$	25.2

Schedule of Estimated Future Amortization

Based on the carrying amount of acquired developed technology, customer relationships and other intangibles as of March 30, 2024, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows (in millions):

Fiscal Years
Remainder of 2024	$	4.8
2025	15.8
2026	11.3
2027	7.5
2028	3.0
Thereafter	0.6
Total amortization	$	43.0