GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Mar. 28, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The balance of goodwill is approximately $1.5 billion as of March 28, 2021 and June 28, 2020. As of March 28, 2021 and June 28, 2020, $61.1 million of the goodwill balance is tax deductible and the remaining balance is not tax deductible due to purchase accounting and applicable foreign law.

Intangible Assets

The following table provides the Company’s intangible assets, other than goodwill:

	March 28, 2021						June 28, 2020
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Customer relationships	$	630,278	$	(569,203)	$	61,075	$	630,137	$	(532,550)	$	97,587
Existing technology	669,302		(658,632)		10,670		668,992		(654,382)		14,610
Patents and other intangible assets	125,383		(53,864)		71,519		98,342		(42,007)		56,335
Total intangible assets	$	1,424,963	$	(1,281,699)	$	143,264	$	1,397,471	$	(1,228,939)	$	168,532

The Company recognized $17.9 million and $16.6 million in intangible asset amortization expense during the three months ended March 28, 2021 and March 29, 2020, respectively. The Company recognized $52.3 million and $49.3 million in intangible asset amortization expense during the nine months ended March 28, 2021 and March 29, 2020, respectively.

The estimated future amortization expense of intangible assets as of March 28, 2021, is reflected in the table below. The table excludes $13.9 million of capitalized costs for internal-use software that have not been placed into service.

Fiscal Year	Amount
	(in thousands)
2021 (remaining 3 months)	$	18,019
2022	68,138
2023	22,274
2024	12,089
2025	6,681
Thereafter	2,164
	$	129,365