Goodwill and Intangible Assets (Tables)

3 Months Ended

Sep. 26, 2020

Sep. 28, 2019

Goodwill [Line Items]

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 during the three months ended September 26, 2020.

No indicators or instances of impairment were identified during the three months and fiscal year ended September 26, 2020 and June 27, 2020, respectively.

Intangible Assets

Intangible assets consisted of the following:

	September 26, 2020						June 27, 2020
	Original Cost		Accumulated Amortization		Net		Original Cost		Accumulated Amortization		Net
	(in thousands)
Intellectual property	$	525,196	$	462,780	$	62,416	$	525,196	$	458,418	$	66,778
Customer relationships	118,335		109,321		9,014		118,335		108,603		9,732
Trade name	11,374		9,393		1,981		11,374		9,265		2,109
Backlog	170		97		73		170		25		145
Patents	2,500		2,500		—		2,500		2,500		—
Total amortizable purchased intangible assets	657,575		584,091		73,484		657,575		578,811		78,764
In-process research & development (IPR&D)	9,195		—		9,195		9,195		—		9,195
Total purchased intangible assets	$	666,770	$	584,091	$	82,679	$	666,770	$	578,811	$	87,959

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

	Three Months Ended
	September 26, 2020		September 28, 2019
	(in thousands)
Cost of goods sold	$	4,361	$	3,111
Intangible asset amortization	919		756
Total intangible asset amortization expenses	$	5,280	$	3,867

The following table represents the estimated future amortization expense of intangible assets as of September 26, 2020:

	Amount
Fiscal Year	(in thousands)
Remainder of 2021	$	13,999
2022	13,454
2023	12,970
2024	9,995
2025	9,716
Thereafter	13,350
Total intangible assets	$	73,484

Schedule of intangible assets [Table Text Block]

Intangible assets consisted of the following:

	September 26, 2020						June 27, 2020
	Original Cost		Accumulated Amortization		Net		Original Cost		Accumulated Amortization		Net
	(in thousands)
Intellectual property	$	525,196	$	462,780	$	62,416	$	525,196	$	458,418	$	66,778
Customer relationships	118,335		109,321		9,014		118,335		108,603		9,732
Trade name	11,374		9,393		1,981		11,374		9,265		2,109
Backlog	170		97		73		170		25		145
Patents	2,500		2,500		—		2,500		2,500		—
Total amortizable purchased intangible assets	657,575		584,091		73,484		657,575		578,811		78,764
In-process research & development (IPR&D)	9,195		—		9,195		9,195		—		9,195
Total purchased intangible assets	$	666,770	$	584,091	$	82,679	$	666,770	$	578,811	$	87,959

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 26, 2020		September 28, 2019
	(in thousands)
Cost of goods sold	$	4,361	$	3,111
Intangible asset amortization	919		756
Total intangible asset amortization expenses	$	5,280	$	3,867

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 26, 2020:

	Amount
Fiscal Year	(in thousands)
Remainder of 2021	$	13,999
2022	13,454
2023	12,970
2024	9,995
2025	9,716
Thereafter	13,350
Total intangible assets	$	73,484