Intangibles, net and Goodwill

12 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

In the fourth quarter of fiscal 2023, due to the prolonged weakness in the China smartphone market, which has had an adverse effect on sales of our general market battery and power products associated with the acquisition of Lion Semiconductor, Inc. ("Lion") (the "Acquisition"), the Company was prompted to assess the recoverability and fair value of the acquired intangible assets recorded in purchase accounting. The Company determined that a replacement cost approach was the most appropriate method to evaluate remaining fair value of the technology. As a result, the Company recorded an intangibles impairment charge of $85.8 million in fiscal year 2023.

The following information details the gross carrying amount, accumulated amortization, and net carrying value of our intangible assets subject to amortization (in thousands):


	March 30, 2024						March 25, 2023
Intangible Category / Weighted-Average Remaining Amortization Period (in years)	Gross Amount		Accumulated Amortization		Net Carrying Value		Gross Amount		Accumulated Amortization		Net Carrying Value


Existing technology (4.4)	146,146		(117,595)		28,551		146,146		(110,792)		35,354
Trademarks and tradename (a)	3,037		(3,037)		—		3,037		(2,973)		64
Customer relationships (0.4)	15,381		(14,840)		541		15,381		(13,422)		1,959


Technology licenses (2.9)	10,692		(10,206)		486		15,841		(14,342)		1,499
Total	$	175,256	$	(145,678)	$	29,578	$	180,405	$	(141,529)	$	38,876

(a)Intangible assets are fully amortized as of March 30, 2024.

Amortization expense for intangibles in fiscal years 2024, 2023, and 2022 was $9.0 million, $33.7 million, and $29.0 million, respectively. The following table details the estimated aggregate amortization expense for all intangibles owned as of March 30, 2024, for each of the five succeeding fiscal years and in the aggregate thereafter (in thousands):


Fiscal Year
2025	$	7,478
2026	$	6,725
2027	$	6,590
2028	$	6,589
2029	$	2,196
Thereafter	$	—

The goodwill balance included on the consolidated balance sheet was $435.9 million and $435.9 million at March 30, 2024 and March 25, 2023, respectively.