GOODWILL AND PURCHASED INTANGIBLE ASSETS (Tables)

6 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill Balances

The following table presents changes in goodwill carrying value by reporting unit during the six months ended December 31, 2023:

(In thousands)	Wafer Inspection and Patterning		Global Service and Support (“GSS”)		Specialty Semiconductor Process		PCB and Display		PCB		Display		Component Inspection		Total
Balances as of June 30, 2023
Goodwill	1,004,700		25,908		826,037		942,819		—		—		13,575		2,813,039
Accumulated impairment losses	(277,570)		—		(144,179)		(112,470)		—		—		—		(534,219)
	$	727,130	$	25,908	$	681,858	$	830,349	$	—	$	—	$	13,575	$	2,278,820
Activity for the six months ended December 31, 2023
Goodwill impairment	—		—		—		(192,600)		—		—		—		(192,600)
Reallocation due to change in reporting units	—		—		—		(637,749)		567,275		70,474		—		—
Foreign currency adjustments	(16)		—		—		—		—		—		—		(16)
Balances as of December 31, 2023
Goodwill	1,004,684		25,908		826,037		305,070		567,275		70,474		13,575		$	2,813,023
Accumulated impairment losses	(277,570)		—		(144,179)		(305,070)		—		—		—		(726,819)
	$	727,114	$	25,908	$	681,858	$	—	$	567,275	$	70,474	$	13,575	$	2,086,204

Schedule of Components of Purchased Intangible Assets

The components of purchased intangible assets as of the dates indicated below were as follows:

(In thousands)		As of December 31, 2023						As of June 30, 2023
Category	Range of Useful  Lives (in years)	Gross Carrying Amount		Accumulated Amortization and Impairment		Net Amount		Gross Carrying Amount		Accumulated Amortization and Impairment		Net Amount
Existing technology	4-8	$	1,552,074	$	954,790	$	597,284	$	1,536,826	$	841,815	$	695,011
Customer relationships	4-9	358,567		229,736		128,831		358,567		205,037		153,530
Trade name / Trademark	4-7	119,083		89,770		29,313		116,583		78,749		37,834
Order backlog and other	<1-7	83,336		82,639		697		85,836		82,264		3,572
Intangible assets subject to amortization		2,113,060		1,356,935		756,125		2,097,812		1,207,865		889,947
In-process research and development		46,074		15,966		30,108		61,322		15,966		45,356
Total		$	2,159,134	$	1,372,901	$	786,233	$	2,159,134	$	1,223,831	$	935,303

Purchased intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be fully recoverable. We identified an impairment indicator for the long-lived assets in our PCB and Display operating segment during the second quarter of fiscal 2024 due to the downward revision of financial outlook for the businesses as noted above.

In connection with the evaluation of the goodwill impairment in the PCB and Display reporting unit, the Company assessed tangible and intangible assets for impairment prior to performing the goodwill impairment test. The Company first performed a recoverability test for each asset group identified in the PCB and Display operating segment by comparing projected undiscounted cash flows from the use and eventual disposition of each asset group to its carrying value. This test indicated that the undiscounted cash flows were not sufficient to recover the carrying value of the asset groups. We then compared the carrying value of the individual long-lived assets within those asset groups against their fair value in order to measure the impairment loss. Determining the fair value involved the use of significant estimates and assumptions, including revenue forecasts, terminal growth rate, tax rate and a weighted average cost of capital adjusted for company-specific risk.

Schedule of Amortization Expense for Purchased Intangible Assets

Amortization expense for purchased intangible assets for the periods indicated below was as follows:

	Three Months Ended December 31,				Six Months Ended December 31,
(In thousands)	2023		2022		2023		2022
Amortization expense - Costs of revenues	$	46,087	$	45,446	$	92,175	$	90,512
Amortization expense - SG&A	13,279		20,128		30,495		40,256
Amortization expense - Research and development	—		31		—		62
Total	$	59,366	$	65,605	$	122,670	$	130,830

Schedule of Remaining Estimated Amortization Expense

Based on the purchased intangible assets gross carrying amount recorded as of December 31, 2023, the remaining estimated annual amortization expense is expected to be as follows:

Fiscal year ending June 30:	Amortization (In thousands)
2024 (remaining six months)	$	113,610
2025	214,968
2026	199,055
2027	130,794
2028	49,027
2029 and thereafter	48,671
Total	$	756,125