Acquired Developed Technology and Other Intangibles

12 Months Ended

Jul. 01, 2023

Acquired Developed Technology and Other Intangibles

Acquired Developed Technology and Other Intangibles

Note 10. Acquired Developed Technology and Other Intangibles

The following tables present details of the Company’s acquired developed technology, customer relationships and other intangibles as of July 1, 2023, and July 2, 2022, (in millions):

As of July 1, 2023	Weighted-Average Remaining Useful Life	Gross Carrying Amount		Accumulated Amortization		Net
Acquired developed technology (1)	3.9 years	$	438.5	$	(390.2)	$	48.3
Customer relationships	2.0 years	195.2		(185.9)		9.3
Other (2)	0.7 years	39.8		(38.8)		1.0
Total intangibles		$	673.5	$	(614.9)	$	58.6

As of July 2, 2022	Weighted-Average Remaining Useful Life	Gross Carrying Amount		Accumulated Amortization		Net
Acquired developed technology	3.3 years	$	416.6	$	(375.8)	$	40.8
Customer relationships	2.8 years	189.7		(177.8)		11.9
Other (2)	0.7 years	36.0		(34.5)		1.5
Total intangibles		$	642.3	$	(588.1)	$	54.2

(1) During fiscal 2023, we recorded a $0.6 million non-cash charge due to the discontinued use of certain intellectual property. This charge has been recorded within SG&A in the Consolidated Statements of Operations.

(2) Other intangibles consist of customer backlog, patents, proprietary know-how and trade secrets, trademarks and trade names.

Based on the carrying amount of acquired developed technology, customer relationships and other intangibles as of July 1, 2023, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows (in millions):

Fiscal Years
2024	$	20.2
2025	15.9
2026	11.4
2027	7.5
2028	3.0
Thereafter	0.6
Total amortization	$	58.6