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Note 2 - Goodwill and Purchased Intangible Assets

9 Months Ended

Sep. 24, 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 nine-month period ended September 24, 2022, by segment, were as follows (in thousands):

	Semiconductor
	& 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		(17,077	)		-			(17,077	)
Balance, September 24, 2022	$	202,714		$	-		$	202,714

(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):

	September 24, 2022						December 25, 2021
					Remaining
					Weighted
	Gross				Average		Gross
	Carrying		Accum.		Amort.		Carrying		Accum.
	Amount		Amort.		Period (years)		Amount		Amort.
Developed technology	$	214,975	$	117,096		3.8	$	229,131	$	104,855
Customer relationships		62,138		28,381		6.8		65,916		26,189
Trade names		19,616		8,580		6.5		20,877		7,714
Covenant not-to-compete		246		141		4.3		308		154
Total intangible assets	$	296,975	$	154,198			$	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 $8.2 million in the third quarter of fiscal 2022 and $25.1 million in the first nine months of fiscal 2022. Amortization expense related to intangible assets was approximately $8.9 million in the third quarter of fiscal 2021 and $27.2 million in the first nine months of fiscal 2021.