GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Sep. 26, 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 September 26, 2021 and June 27, 2021. As of September 26, 2021 and June 27, 2021, $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:

	September 26, 2021						June 27, 2021
	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
	(in thousands)
Customer relationships	$	630,268	$	(593,497)	$	36,771	$	630,303	$	(581,406)	$	48,897
Existing technology	669,285		(660,915)		8,370		669,359		(659,898)		9,461
Patents and other intangible assets	144,650		(64,777)		79,873		132,774		(58,767)		74,007
Total intangible assets	$	1,444,203	$	(1,319,189)	$	125,014	$	1,432,436	$	(1,300,071)	$	132,365

The Company recognized $19.1 million and $16.8 million in intangible asset amortization expense during the three months ended September 26, 2021 and September 27, 2020, respectively.

The estimated future amortization expense of intangible assets as of September 26, 2021, is reflected in the table below. The table excludes $12.0 million of capitalized costs for internal-use software that have not been placed into service.

Fiscal Year	Amount
	(in thousands)
2022 (remaining 9 months)	$	54,972
2023	28,079
2024	17,194
2025	8,863
2026	3,203
Thereafter	724
	$	113,035