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Acquired Developed Technology and Other Intangibles
9 Months Ended
Mar. 31, 2012
Acquired Developed Technology and Other Intangibles  
Acquired Developed Technology and Other Intangibles

Note 9. Acquired Developed Technology and Other Intangibles

 

The following tables present details of the Company’s acquired developed technology and other intangibles (in millions):

 

 

 

Gross

 

 

 

 

 

 

 

Carrying

 

Accumulated

 

 

 

As of March 31, 2012

 

Amount

 

Amortization

 

Net

 

Acquired developed technology

 

$

540.4

 

$

(388.4

)

$

152.0

 

Other

 

283.8

 

(214.9

)

68.9

 

Total intangibles

 

$

824.2

 

$

(603.3

)

$

220.9

 

 

 

 

Gross

 

 

 

 

 

 

 

Carrying

 

Accumulated

 

 

 

As of July 2, 2011

 

Amount

 

Amortization

 

Net

 

Acquired developed technology

 

$

530.8

 

$

(353.6

)

$

177.2

 

Other

 

287.1

 

(198.7

)

88.4

 

Total intangibles subject to amortization

 

817.9

 

(552.3

)

265.6

 

Indefinite life intangibles

 

9.8

 

 

9.8

 

Total intangibles

 

$

827.7

 

$

(552.3

)

$

275.4

 

 

During the three months ended March 31, 2012, the Company completed the $9.8 million in-process research and development (“IPR&D”) project related to the Network Solutions Division (“NSD”) business acquisition of fiscal 2010 and transferred it from indefinite life intangible assets to acquired developed technology and began amortizing the developed technology intangible asset over its useful life of five years.

 

During the three and nine months ended March 31, 2012, the Company recorded $21.6 million and $65.4 million, respectively, of amortization expense relating to acquired technology and other intangibles. During the three and nine months ended April 2, 2011, the Company recorded $22.3 million and $67.1 million, respectively, of amortization expense relating to acquired technology and other intangibles.

 

Based on the carrying amount of acquired technology and other intangibles as of March 31, 2012, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows (in millions):

 

Fiscal Years 

 

 

 

Remainder of 2012

 

$

22.2

 

2013

 

71.9

 

2014

 

45.5

 

2015

 

37.6

 

2016

 

15.7

 

Thereafter

 

28.0

 

Total amortization

 

$

220.9

 

 

The acquired developed technology and other intangibles balance are adjusted quarterly to record the effect of currency translation adjustments.