Goodwill and Acquisition-Related Intangibles

3 Months Ended

Jun. 27, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquisition-Related Intangibles

A summary of the goodwill and acquisitions-related intangibles balances as of June 27, 2020 and March 28, 2020 was as follows:

					Weighted-Average
(In thousands)	June 27, 2020		March 28, 2020		Amortization Life
Goodwill	$	619,196	$	619,196
Core technology, gross	209,131		209,131
Less accumulated amortization	(111,703)		(105,007)
Core technology, net	97,428		104,124		3.9 years
Other intangibles, gross	95,759		95,759
Less accumulated amortization	(59,394)		(56,531)
Other intangibles, net	36,365		39,228		3.9 years
In-process research and development	56,992		56,992
Total acquisition-related intangibles, gross	361,882		361,882
Less accumulated amortization	(171,097)		(161,538)
Total acquisition-related intangibles, net	$	190,785	$	200,344

Based on the carrying value of acquisition-related intangibles recorded as of June 27, 2020, and assuming no subsequent acquisition or impairment of the underlying assets, the annual amortization expense for acquisition-related intangibles is expected to be as follows:

Fiscal	(In thousands)
2021 (remaining nine months)	$	28,653
2022	35,401
2023	33,693
2024	29,443
2025	6,603
Total	$	133,793

In-process research and development is not subject to amortization prior to the completion of the projects and therefore the balance is excluded from the above annual amortization expense schedule.