Goodwill and Purchased Intangible Assets

12 Months Ended

Dec. 26, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Purchased Intangible Assets

6. Goodwill and Purchased Intangible Assets:

Goodwill and purchased intangible assets with indefinite useful lives are not amortized, but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The process of evaluating the potential impairment of goodwill and intangible assets requires significant judgment. The Company regularly monitors current business conditions and considers other factors including, but not limited to, adverse industry or economic trends, restructuring actions and lower projections of profitability that may impact future operating results. The Company performed its annual assessment in the fourth quarter of fiscal 2020 and concluded that no impairment charge was required.

Goodwill

The changes in the carrying amount of goodwill are as follows:

Balance at December 31, 2018	$	22,495
Acquired goodwill (Note 3)		284,653
Balance at December 31, 2019		307,148
Goodwill adjustments (Note 3)		(516	)
Balance at December 26, 2020	$	306,632

Purchased Intangible Assets

Purchased intangible assets as of December 26, 2020 and December 31, 2019 are as follows:

	Gross Carrying Amount		Accumulated Amortization		Net
December 26, 2020
Finite-lived intangible assets:
Developed technology	$	326,877	$	110,851	$	216,026
Customer and distributor relationships		69,261		20,654		48,607
Trademarks and trade names		12,461		5,337		7,124
Total finite-lived intangible assets		408,599		136,842		271,757
In-process research and development		46,600		—		46,600
Total identifiable intangible assets	$	455,199	$	136,842	$	318,357
December 31, 2019
Finite-lived intangible assets:
Developed technology	$	326,726	$	67,861	$	258,865
Customer and distributor relationships		69,261		11,078		58,183
Trademarks and trade names		12,461		4,156		8,305
Total finite-lived intangible assets		408,448		83,095		325,353
In-process research and development		46,600		—		46,600
Total identifiable intangible assets	$	455,048	$	83,095	$	371,953

Intangible asset amortization expense amounted to $53,746, $10,445 and $1,534 for the years ended December 26, 2020, December 31, 2019 and December 31, 2018, respectively. Assuming no change in the gross carrying value of identifiable intangible assets and estimated lives, estimated amortization expenses are $48,024 for 2021, $47,625 for 2022, $47,150 for 2023, $41,465 for 2024, and $24,915 for 2025.