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
	September 26, 2014		March 31, 2014
	(In thousands)
Raw materials	$	2,422,415	$	2,349,278
Work-in-progress	578,211		608,284
Finished goods	626,014		641,446
	$	3,626,640	$	3,599,008

Goodwill and Other Intangibles

The following table summarizes the activity in the Company’s goodwill account during the six-month period ended September 26, 2014:

	Amount
	(In thousands)
Balance, beginning of the year	$	292,758
Additions (1)	21,707
Purchase accounting adjustments (2)	8,651
Foreign currency translation adjustments	(2,059		)
Balance, end of the period	$	321,057

(1) The goodwill generated from the Company’s business combinations completed during the six-month period ended September 26, 2014 is primarily related to value placed on the acquired employee workforces, service offerings and capabilities of the acquired businesses and expected synergies. The goodwill is not deductible for income tax purposes. See note 12 to the condensed consolidated financial statements for additional information.

(2) Fair value adjustment made to certain assets acquired in connection with the Company’s acquisition of Riwisa AG.

The components of acquired intangible assets are as follows:

	As of September 26, 2014							As of March 31, 2014
	Gross					Net		Gross					Net
	Carrying		Accumulated			Carrying		Carrying		Accumulated			Carrying
	Amount		Amortization			Amount		Amount		Amortization			Amount
	(In thousands)
Intangible assets:
Customer-related intangibles	$	211,852	$	(152,259	)	$	59,593	$	204,369	$	(140,713	)	$	63,656
Licenses and other intangibles	47,789		(15,202		)	32,587		32,564		(11,760		)	20,804
Total	$	259,641	$	(167,461	)	$	92,180	$	236,933	$	(152,473	)	$	84,460

The gross carrying amounts of intangible assets are removed when the recorded amounts have been fully amortized. During the six-month period ended September 26, 2014, the value of customer-related intangible assets increased by $8.5 million in connection with the Company’s acquisitions, and licenses and other intangibles increased by $15.7 million primarily as a result of the purchase of certain technology rights. The estimated future annual amortization expense for intangible assets is as follows:

Fiscal Year Ending March 31,	Amount
	(In thousands)
2015 (1)	$	15,741
2016	27,133
2017	18,786
2018	12,825
2019	8,498
Thereafter	9,197
Total amortization expense	$	92,180

(1) Represents estimated amortization for the remaining six-month period ending March 31, 2015.

Other Current Assets / Liabilities

Other current assets include certain assets purchased on behalf of a customer and financed by a third party banking institution of $267.5 million as of both September 26, 2014 and March 31, 2014, respectively, with a corresponding liability recorded to other current liabilities of $289.6 million and $286.5 million as of September 26, 2014 and March 31, 2014, respectively.

Other current liabilities also includes customer working capital advances of $213.2 million and $754.7 million as of September 26, 2014 and March 31, 2014, 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.