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Note 2 - Goodwill and Purchased Intangible Assets

6 Months Ended

Jun. 25, 2022

Goodwill and Intangible Assets Disclosure [Text Block]

2.	Goodwill and Purchased Intangible Assets

Goodwill and Intangible Assets

Changes in the carrying value of goodwill during the year ended December 25, 2021, and the six-month period ended June 25, 2022, by segment, were as follows (in thousands):

	Semiconductor Test
	& Inspection			PCB Test			Total
Balance, December 26, 2020	$	230,724		$	21,580		$	252,304
Sale of PCB Test Business⁽¹⁾		-			(21,899	)		(21,899	)
Impact of currency exchange		(10,933	)		319			(10,614	)
Balance, December 25, 2021		219,791			-			219,791
Impact of currency exchange		(8,257	)		-			(8,257	)
Balance, June 25, 2022	$	211,534		$	-		$	211,534

(1)

On June 24, 2021, we completed the sale of our PCB Test business. See Note 12, “Business Divestitures” for additional information.

Purchased intangible assets, subject to amortization are as follows (in thousands):

	June 25, 2022						December 25, 2021
					Remaining
					Weighted
	Gross				Average		Gross
	Carrying		Accum.		Amort.		Carrying		Accum.
	Amount		Amort.		Period (in years)		Amount		Amort.
Developed technology	$	222,240	$	114,503		4	$	229,131	$	104,855
Customer relationships		64,027		27,939		7		65,916		26,189
Trade names		20,220		8,366		6.8		20,877		7,714
Covenant not-to-compete		261		143		4.5		308		154
Total intangible assets	$	306,748	$	150,951			$	316,232	$	138,912

Changes in the carrying values of purchased intangible assets presented above are a result of the impact of fluctuation in currency exchange rates.

Amortization expense related to intangible assets was approximately $8.3 million in the second quarter of fiscal 2022 and $16.9 million in the first six months of fiscal 2022. Amortization expense related to intangible assets was approximately $9.0 million in the second quarter of fiscal 2021 and $18.3 million in the first six months of fiscal 2021.