Intangible Assets and Goodwill (Notes) |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets and Goodwill | INTANGIBLE ASSETS AND GOODWILL Intangible assets consist of the following (amounts in thousands):
The Company amortizes intangible assets over their expected useful lives, which range between 1 and 15 years. During the year ended March 31, 2016, as a result of the acquisition of Micrel, the Company acquired $175.8 million of core and developed technology which has a weighted average amortization period of 10 years, $71.1 million of customer-related intangible assets which have a weighted average amortization period of 5 years, $5.6 million of intangible assets related to backlog with an amortization period of 1 year and $21.0 million of in-process technology which has a weighted average amortization period of 10 years and will begin amortization once the technology reaches technological feasibility. In fiscal 2016, $33.8 million of in-process technology reached technological feasibility and was reclassified as core and developed technology and began being amortized over its estimated useful life. The following is an expected amortization schedule for the intangible assets for fiscal 2017 through fiscal 2021, absent any future acquisitions or impairment charges (amounts in thousands):
Amortization expense attributed to intangible assets was $179.3 million, $181.0 million and $99.4 million for fiscal years 2016, 2015 and 2014, respectively. In fiscal 2016, $3.6 million was charged to cost of sales and $175.7 million was charged to operating expenses. In fiscal 2015, $3.8 million was charged to cost of sales and $177.2 million was charged to operating expenses. In fiscal 2014, $4.7 million was charged to cost of sales and $94.7 million was charged to operating expenses. The Company recognized impairment charges of $0.6 million, $1.9 million and $0.4 million in fiscal years 2016, 2015 and 2014, respectively. Goodwill activity for fiscal years 2016 and 2015 was as follows (amounts in thousands):
At March 31, 2016, the Company applied a qualitative goodwill impairment screen to its two reporting units, concluding it was not more likely than not that goodwill was impaired. Through March 31, 2016, the Company has never recorded an impairment charge against its goodwill balance. |