XML 36 R26.htm IDEA: XBRL DOCUMENT v3.21.4
Goodwill and Acquisition-Related Intangibles
 9 Months Ended
Jan. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Acquisition-Related Intangibles Goodwill and Acquisition-Related Intangibles
A summary of the goodwill and acquisitions-related intangibles balances as of January 1, 2022 and April 3, 2021 was as follows:
 
Weighted-Average
(In thousands)January 1, 2022April 3, 2021Amortization Life
Goodwill$633,200 $620,697 
Core technology, gross$279,763 $249,847 
Less accumulated amortization(162,282)(133,007)
Core technology, net117,481 116,840 3.4 years
Other intangibles, gross95,759 95,759 
Less accumulated amortization(75,092)(67,999)
Other intangibles, net20,667 27,760 2.7 years
In-process research and development17,088 26,992 
Total acquisition-related intangibles, gross392,610 372,598 
Less accumulated amortization(237,374)(201,006)
Total acquisition-related intangibles, net$155,236 $171,592 

During the first quarter of fiscal 2022, the Company completed an immaterial business combination, which resulted in increases to goodwill and core technology intangibles.

Based on the carrying value of acquisition-related intangibles recorded as of January 1, 2022, 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)
2022 (remaining three months)$11,955 
202347,819 
202443,569 
202520,729 
202612,912 
Thereafter1,164 
Total$138,148 
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.