Acquisition-Related Intangible Assets, Net

Acquisition-related intangible assets, net were as follows:



	June 26, 2015
(In thousands)	Gross Assets		Accumulated Amortization			Net		Weighted-Average Amortization Period
Developed technology	$	67,670	$	(15,189	)	$	52,481	9.4 years
Customer relationships	12,910		(4,442		)	8,468		6.8 years
Trade name	3,700		(877		)	2,823		8.9 years
Non-competition agreements	700		(700		)	—		2.0 years
Other intangible assets	930		(802		)	128		1.2 years
Acquisition-related intangible assets, net subject to amortization	85,910		(22,010		)	63,900
In-process research & development	3,500		—			3,500
Total acquisition-related intangible assets, net	$	89,410	$	(22,010	)	$	67,400



	December 31, 2014
(In thousands)	Gross Assets		Accumulated Amortization			Net		Weighted-Average Amortization Period
Developed technology	$	67,670	$	(11,607	)	$	56,063	9.4 years
Customer relationships	12,910		(3,493		)	9,417		6.8 years
Trade name	3,700		(670		)	3,030		8.9 years
Non-competition agreements	700		(563		)	137		2.0 years
Other intangible assets	930		(786		)	144		1.2 years
Acquisition-related intangible assets subject to amortization, net	85,910		(17,119		)	68,791
In-process research & development	3,500		—			3,500
Total acquisition-related intangible assets, net	$	89,410	$	(17,119	)	$	72,291

In-process research & development ("IPR&D") assets represent the fair value of incomplete research and development projects that had not reached technological feasibility as of the date of acquisition. In 2013, we capitalized IPR&D of $28.1 million related to two acquisitions. Initially, these assets are classified as indefinite-lived intangible assets that are not subject to amortization. IPR&D assets related to projects that have been completed are transferred to the developed technology intangible asset to begin amortization, while IPR&D assets related to abandoned projects are impaired and expensed to Research and development expense in the consolidated statements of comprehensive income. No projects were abandoned in 2014 or 2015. The remaining IPR&D project as of June 26, 2015 is expected to be completed in the fourth quarter of 2015.

Based on the carrying value of Acquisition-related intangible assets, net as of June 26, 2015, the annual amortization expense for Acquisition-related intangible assets, net is expected to be as follows:



Fiscal Year	Amortization Expense
	(In thousands)
2015 (remaining six months)	$	4,755
2016	9,327
2017	9,151
2018	9,039
2019	8,938
2020 and Thereafter	22,690
Total	$	63,900