2. BALANCE SHEET ITEMS

Inventories

The components of inventories, net of applicable lower of cost or market write-downs, were as follows:

	As of		As of
	June 28, 2013		March 31, 2013
	(In thousands)
Raw materials	$	1,946,361	$	1,683,098
Work-in-progress	510,900		421,706
Finished goods	695,136		617,696
	$	3,152,397	$	2,722,500

Goodwill and Other Intangibles

The following table summarizes the activity in the Company’s goodwill account during the three-month period ended June 28, 2013:

	Amount
	(In thousands)
Balance, beginning of the year	$	262,005
Additions (1)	2,256
Purchase accounting adjustments	1,724
Balance, end of the quarter	$	265,985

(1) The goodwill generated from the Company’s business combinations completed during the three-month period ended June 28, 2013 is not significant, and is primarily related to value placed on the employee workforce, service offerings and capabilities, and expected synergies. The goodwill is not deductible for income tax purposes.

The components of acquired intangible assets are as follows:

	As of June 28, 2013							As of March 31, 2013
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
	(In thousands)
Intangible assets:
Customer-related intangibles	$	298,711	$	(227,037	)	$	71,674	$	294,310	$	(224,517	)	$	69,793
Licenses and other intangibles	21,040		(10,034		)	11,006		21,040		(9,286		)	11,754
Total	$	319,751	$	(237,071	)	$	82,680	$	315,350	$	(233,803	)	$	81,547

The gross carrying amounts of intangible assets are removed when the recorded amounts have been fully amortized. During the three-month period ended June 28, 2013, the Company acquired customer-related intangibles in connection with an acquisition as further discussed under note 11 to the condensed consolidated financial statements. The estimated future annual amortization expense for acquired intangible assets is as follows:

Fiscal Year Ending March 31,	Total
	(In thousands)
2014 (1)	$	20,509
2015	24,547
2016	19,889
2017	10,847
2018	5,179
Thereafter	1,709
Total amortization expense	$	82,680

(1) Represents estimated amortization for the remaining nine-month period ending March 31, 2014.