Goodwill and Acquisition-Related Intangibles

9 Months Ended

Jan. 02, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquisition-Related Intangibles

A summary of the goodwill and acquisitions-related intangibles balances as of January 2, 2021 and March 28, 2020 was as follows:

					Weighted-Average
(In thousands)	January 2, 2021		March 28, 2020		Amortization Life
Goodwill	$	620,697	$	619,196
Core technology, gross	219,847		209,131
Less accumulated amortization	(125,275)		(105,007)
Core technology, net	94,572		104,124		3.6 years
Other intangibles, gross	95,759		95,759
Less accumulated amortization	(65,112)		(56,531)
Other intangibles, net	30,647		39,228		3.6 years
In-process research and development	56,992		56,992
Total acquisition-related intangibles, gross	372,598		361,882
Less accumulated amortization	(190,387)		(161,538)
Total acquisition-related intangibles, net	$	182,211	$	200,344

During the quarter, the Company completed an immaterial business combination, which resulted in increases of goodwill and core technology intangibles.

Based on the carrying value of acquisition-related intangibles recorded as of January 2, 2021, 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 three months)	$	10,078
2022	37,544
2023	35,836
2024	31,586
2025	8,747
Thereafter	1,428
Total	$	125,219

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.