Intangible Assets

In connection with our acquisitions of Silicon Image, Inc. ("Silicon Image") in March 2015 and SiliconBlue Technologies, Inc. ("SiliconBlue") in December 2011, we recorded identifiable intangible assets related to developed technology, customer relationships, licensed technology, patents, and in-process research and development based on guidance for determining fair value under the provisions of ASC 820, "Fair Value Measurements." Additionally, during fiscal 2015, we licensed additional third-party technology.

We monitor the carrying value of our intangible assets for potential impairment and test the recoverability of such assets annually during the fourth quarter and whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. When we are required to determine the fair value of intangible assets other than goodwill, we use the income approach. We start with a forecast of all expected net cash flows associated with the asset and then apply a discount rate to arrive at fair value. No impairment charges related to intangible assets were recorded for the first three months of either fiscal 2018 or fiscal 2017 as no indicators of impairment were present.

In the first quarter of fiscal 2017, we sold a portfolio of patents that had been acquired in our acquisition of Silicon Image for $18.0 million. This amount was received in two installments over the first and second quarters of fiscal 2017, and was recognized as licensing and services revenue in our Consolidated Statements of Operations during the respective periods in which the installment payments were received. As a result of this transaction, Intangible assets, net was reduced by approximately $3.5 million on our Consolidated Balance Sheets.

On our Consolidated Balance Sheets at March 31, 2018 and December 30, 2017, Intangible assets, net are shown net of accumulated amortization of $106.1 million and $100.3 million, respectively.

We recorded amortization expense related to intangible assets on the Consolidated Statements of Operations as presented in the following table:



	Three Months Ended
(In thousands)	March 31, 2018		April 1, 2017
Research and development	$	127	$	173
Amortization of acquired intangible assets	5,636		8,514
	$	5,763	$	8,687