BALANCE SHEET ITEMS

3 Months Ended

Jun. 28, 2019

Balance Sheet Related Disclosures [Abstract]

Inventories

The components of inventories, net of applicable lower of cost and net realizable value write-downs, were as follows:



	As of June 28, 2019		As of March 31, 2019
	(In thousands)
Raw materials	$	2,897,291	$	2,922,101
Work-in-progress	383,473		366,135
Finished goods	464,936		434,618
	$	3,745,700	$	3,722,854

Goodwill and Other Intangible Assets

The following table summarizes the activity in the Company’s goodwill account for each of its four reporting units (which align to the Company's reportable segments) during the three-month period ended June 28, 2019:



	HRS			IEI		CEC		CTG		Total
	(In thousands)
Balance, beginning of the year	$	507,209		$	333,257	$	129,325	$	103,264	$	1,073,055
Divestitures	(1,102		)	—		—		—		(1,102		)
Foreign currency translation adjustments	5,278			—		—		—		5,278
Balance, end of the period	$	511,385		$	333,257	$	129,325	$	103,264	$	1,077,231

The components of acquired intangible assets are as follows:



	As of June 28, 2019							As of March 31, 2019
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(In thousands)
Intangible assets:
Customer-related intangibles	$	297,389	$	(122,884	)	$	174,505	$	297,306	$	(113,627	)	$	183,679
Licenses and other intangibles	266,493		(126,282		)	140,211		274,604		(127,288		)	147,316
Total	$	563,882	$	(249,166	)	$	314,716	$	571,910	$	(240,915	)	$	330,995

The gross carrying amounts of intangible assets are removed when fully amortized. The estimated future annual amortization expense for intangible assets is as follows:



Fiscal Year Ending March 31,	Amount
	(In thousands)
2020 (1)	$	47,807
2021	60,793
2022	52,261
2023	44,529
2024	42,964
Thereafter	66,362
Total amortization expense	$	314,716

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(1)	Represents estimated amortization for the remaining nine-month period ending March 31, 2020.

Other Current Assets

Other current assets include approximately $335.1 million and $292.5 million as of June 28, 2019 and March 31, 2019, respectively, for the deferred purchase price receivable from the Company's Asset-Backed Securitization programs. See note 12 for additional information.

Other Current Liabilities

Other current liabilities include customer working capital advances of $264.5 million and $266.3 million, customer-related accruals of $253.4 million and $260.1 million, and deferred revenue of $329.8 million and $271.8 million, as of June 28, 2019 and March 31, 2019, respectively. The customer working capital advances are not interest-bearing, do not have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production. Following the adoption of ASC 842, current operating lease liabilities were $135.2 million as of June 28, 2019.