Goodwill and Intangible Assets (Tables)

3 Months Ended

Sep. 29, 2018

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company monitors the recoverability of goodwill recorded in connection with acquisitions, by reporting unit, annually, or more often if events or changes in circumstances indicate that the carrying amount may not be recoverable.

There were no changes to goodwill for the three months ended September 29, 2018.

No indicators or instances of impairment were identified in the three months ended September 29, 2018 and June 30, 2018, respectively.

Intangible assets consisted of the following:



	September 29, 2018						June 30, 2018
	Original Cost		Accumulated Amortization		Net		Original Cost		Accumulated Amortization		Net
	(in thousands)
Intellectual property	$	488,846	$	430,784	$	58,062	$	485,465	$	423,869	$	61,596
Customer relationships	116,505		103,885		12,620		116,294		103,217		13,077
Trade name	9,974		8,661		1,313		9,340		8,588		752
Patents	2,500		2,500		—		2,500		2,469		31
Total amortizable purchased intangible assets	617,825		545,830		71,995		613,599		538,143		75,456
IPR&D	2,790		—		2,790		2,790		—		2,790
Total purchased intangible assets	$	620,615	$	545,830	$	74,785	$	616,389	$	538,143	$	78,246

The following table presents the amortization expense of intangible assets and its presentation in the Condensed Consolidated Statements of Income:



	Three Months Ended
	September 29, 2018		September 23, 2017
	(in thousands)
Cost of goods sold	$	6,915	$	11,064
Intangible asset amortization	773		1,752
Total intangible asset amortization expenses	$	7,688	$	12,816

The following table represents the estimated future amortization expense of intangible assets as of September 29, 2018:



Fiscal Year	Amount
	(in thousands)
Remaining nine months of 2019	$	17,267
2020	15,368
2021	13,669
2022	7,989
2023	7,505
Thereafter	10,197
Total intangible assets	$	71,995

Schedule of Goodwill [Table Text Block]

he Company monitors the recoverability of goodwill recorded in connection with acquisitions, by reporting unit, annually, or more often if events or changes in circumstances indicate that the carrying amount may not be recoverable.

There were no changes to goodwill for the three months ended September 29, 2018.

Schedule of intangible assets [Table Text Block]

Intangible assets consisted of the following:



	September 29, 2018						June 30, 2018
	Original Cost		Accumulated Amortization		Net		Original Cost		Accumulated Amortization		Net
	(in thousands)
Intellectual property	$	488,846	$	430,784	$	58,062	$	485,465	$	423,869	$	61,596
Customer relationships	116,505		103,885		12,620		116,294		103,217		13,077
Trade name	9,974		8,661		1,313		9,340		8,588		752
Patents	2,500		2,500		—		2,500		2,469		31
Total amortizable purchased intangible assets	617,825		545,830		71,995		613,599		538,143		75,456
IPR&D	2,790		—		2,790		2,790		—		2,790
Total purchased intangible assets	$	620,615	$	545,830	$	74,785	$	616,389	$	538,143	$	78,246

Schedule of amortization expense allocation of intangible assets [Table Text Block]

The following table presents the amortization expense of intangible assets and its presentation in the Condensed Consolidated Statements of Income:



	Three Months Ended
	September 29, 2018		September 23, 2017
	(in thousands)
Cost of goods sold	$	6,915	$	11,064
Intangible asset amortization	773		1,752
Total intangible asset amortization expenses	$	7,688	$	12,816

Estimated future amortization expense of intangible assets [Table Text Block]

The following table represents the estimated future amortization expense of intangible assets as of September 29, 2018:



Fiscal Year	Amount
	(in thousands)
Remaining nine months of 2019	$	17,267
2020	15,368
2021	13,669
2022	7,989
2023	7,505
Thereafter	10,197
Total intangible assets	$	71,995

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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