Intangible Assets, Goodwill and Other

3 Months Ended

Sep. 24, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

Acquisition-related Intangible Assets and Goodwill

Acquisition-related Intangible Assets

Acquisition-related intangibles as of September 24, 2022 were as follows:

	Weighted-average Remaining Useful Life	September 24, 2022
		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
		(In millions)
Developed technology	15 years	$	12,360	$	(512)	$	11,848
Customer relationships	14 years	12,324		(1,411)		10,913
Customer backlog	5 months	809		(494)		315
Corporate trade name	5 months	65		(40)		25
Product trademarks	11 years	914		(47)		867
Identified intangible assets subject to amortization		26,472		(2,504)		23,968
IPR&D not subject to amortization	N/A	1,194		—		1,194
Total acquisition-related intangible assets		$	27,666	$	(2,504)	$	25,162

Acquisition-related intangible asset balance as of September 25, 2021 was not material.

Acquisition-related intangible amortization expense was $1.0 billion and $2.5 billion for the three and nine months ended September 24, 2022, respectively.

Based on the carrying value of acquisition-related intangibles recorded as of September 24, 2022, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for acquisition-related intangibles is expected to be as follows:

Fiscal Year	(In millions)
Remainder of 2022	$	1,044
2023	2,804
2024	2,286
2025	2,061
2026	1,951
2027 and thereafter	13,822
Total	$	23,968

Goodwill

In the second quarter of fiscal year 2022, the Company reassigned goodwill balances among the updated reportable segments to reflect changes in its segment reporting structure. The Company performed a goodwill impairment test immediately prior to and after the segment change and determined that no indicators of impairment to goodwill existed.

The carrying amount of goodwill as of September 24, 2022 and December 25, 2021 was $24.2 billion and $289 million, respectively, and was assigned to reporting units within the following reportable segments:

	December 26, 2021		Acquisitions and related adjustments		Reassignment due to segment change		September 24, 2022
	(In millions)
Reportable segments before segment change:
Enterprise, Embedded and Semi-Custom	$	289	$	—	$	(289)	$	—
Xilinx	—		22,794		(22,794)		—
Reportable segments after segment change:
Data Center	—		1,104		1,782		2,886
Gaming	—		—		238		238
Embedded	—		—		21,063		21,063
Total	$	289	$	23,898	$	—	$	24,187