Goodwill and Intangible Assets

12 Months Ended

Jun. 25, 2011

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets [Text Block]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company classifies goodwill and acquired intangible assets within other assets in the Consolidated Balance Sheets. The Company's carrying value of goodwill was $265.1 million and $226.2 million at June 25, 2011 and June 26, 2010, respectively.



	Goodwill
Balance at June 26, 2010	$	226,223
Acquisition	42,564
Adjustments	(3,662		)
Balance at June 25, 2011	$	265,125

Intangible Assets

The useful lives of the significant definite lived intangible assets are as follows:



Asset		Life
Intellectual Property		5-10 years
Customer Relationships		5-10 years
Tradename		3 years
Backlog		1 year

Intangible assets consisted of the following:



	June 25, 2011						June 26, 2010
	Original Cost		Accumulated Amortization		Net		Original Cost		Accumulated Amortization		Net
	(in thousands)
Intellectual property	$	195,912	$	64,996	$	130,916	$	145,262	$	33,305	$	111,957
Customer relationships	88,630		24,915		63,715		87,030		11,745		75,285
Backlog	6,400		5,687		713		4,500		2,350		2,150
Tradename	1,700		981		719		1,400		264		1,136
Total amortizable purchased intangible assets	292,642		96,579		196,063		238,192		47,664		190,528
IPR&D	8,200		—		8,200		4,200		—		4,200
Total purchased intangible assets	$	300,842	$	96,579	$	204,263	$	242,392	$	47,664	$	194,728

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



	For the Year Ended
	June 25, 2011		June 26, 2010		June 27, 2009
	(in thousands)
Cost of goods sold	$	30,164	$	10,999	$	8,024
Intangible Asset Amortization	18,752		10,477		6,019
Total Intangible Asset Amortization Expenses	$	48,916	$	21,476	$	14,043



The following table represents the estimated future amortization expense of intangible assets as of the end of fiscal year 2011:

Fiscal Year	Amount
	(in thousands)
2012	$	46,853
2013	42,022
2014	35,439
2015	33,131
2016	21,011
Thereafter	17,607

Total intangible assets	$	196,063

- 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.

+ References+ Details