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GOODWILL AND PURCHASED INTANGIBLE ASSETS
 12 Months Ended
Apr. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND PURCHASED INTANGIBLE ASSETS GOODWILL AND PURCHASED INTANGIBLE ASSETS

Goodwill

During the fourth quarter of Fiscal Year 2021, the Company performed an initial assessment of qualitative factors to determine whether the existence of events and circumstances lead to a determination that it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount. After assessing the totality of relevant events and circumstances, the Company determined that it is more-likely-than-not that the fair value of all reporting units exceed carrying value. Therefore, no further impairment testing was performed and no impairment charges were recognized.

During the fourth quarter of Fiscal Year 2020, the Company experienced a sustained decrease in its stock price and determined that it was more-likely-than-not that the carrying value of the Company's reporting units exceeded their fair value. During the fourth quarter of Fiscal Year 2020, the Company made key changes to its executive management, which ultimately resulted in a change to the composition of its reportable segments and consequently a change from one to four reporting units: Headsets, Voice, Video, and Services (see Note 20, Segment Reporting and Geographic Information for additional information). As a result of the quantitative impairment test performed on a one reporting unit basis, the Company recorded a goodwill impairment loss of $323.1 million due to changes in the estimate of long-term future financial performance to reflect lower expectations for growth in revenue and earnings than previously estimated. Additionally, after the reallocation of goodwill to its four reporting units, the Company recorded an additional goodwill impairment loss of $47.8 million and $112.8 million to its Voice and Video reporting units, respectively. The fair value of the Company's reporting units was estimated using a discounted cash flow model (income approach), which used Level 3 inputs. The income approach included assumptions for, among others, forecasted revenue, operating income, and discount rates, all of which require significant judgment by management. These assumptions also consider the current industry environment and outlook, and the resulting impact on the Company's expectations for the performance of its business.

The changes in the carrying amount of goodwill allocated to the Company's reportable segments for Fiscal Year 2021 and Fiscal Year 2020 are as follows:
(in thousands)Poly Reportable SegmentProducts Reportable SegmentServices Reportable SegmentTotal Consolidated
Balance as of March 30, 2019$1,278,380 $— $— $1,278,380 
Acquisition measurement period adjustments1,517 1,517 
Impairment prior to re-segmentation(323,088)— — (323,088)
Allocation due to re-segmentation(956,809)789,561 167,248 — 
Impairment after re-segmentation— (160,593)(160,593)
Balance as of March 28, 2020— 628,968 167,248 796,216 
Balance as of April 3, 2021$— $628,968 $167,248 $796,216 

Purchased Intangibles, net

Purchased Intangibles, net consists primarily of existing technology, customer relationships, and trade names acquired in business combinations. Intangible assets with finite lives are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of the related asset group may not be recoverable. As a result of the sustained decrease in stock price experienced in Fiscal Year 2020, the Company determined the Voice products asset group to not be recoverable and a quantitative impairment test was performed. The fair value of the Company's Voice products asset group was estimated using a discounted cash flow model (income approach) which used Level 3 inputs. The income approach included assumptions for, among others, forecasted revenue, operating income, and discount rates, all of which require significant judgment by management. The Company compared the fair value of the Voice products asset group to its carrying value and determined the existing technology and customer relationships intangible assets and certain machinery and equipment to be completely impaired. As a result, the Company recorded an impairment of long-lived assets totaling $179.6 million in the fourth quarter of Fiscal Year 2020 within its Product segment, of which $174.2 million and $5.4 million was classified as Cost of Revenues and Operating Expenses, respectively, in the Consolidated Statements of Operations. Impairment of long-lived assets was comprised of $175.0 million of intangible assets and $4.6 million of machinery and equipment. No impairment charges were recognized in Fiscal Year 2021.
As of April 3, 2021 and March 28, 2020, the carrying value of Purchased Intangibles, excluding fully amortized assets, is as follows:
April 3, 2021March 28, 2020
(in thousands)Gross Carrying ValueAccumulated AmortizationNet Carrying ValueWeighted Average Remaining Useful LifeGross Carrying ValueAccumulated AmortizationNet Carrying Amount
Existing technology$427,123 $(277,071)$150,052 2.3 years$427,123 $(208,848)$218,275 
Customer relationships240,024 (128,740)111,284 3.2 years240,024 (84,506)155,518 
Trade names/Trademarks115,600 (35,322)80,278 6.3 years115,600 (22,478)93,122 
Purchased intangibles$782,747 $(441,133)$341,614 3.5 years$782,747 $(315,832)$466,915 

Intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets. Amortization is charged to Cost of Revenues and Operating Expenses in the Consolidated Statements of Operations. The Company recognized $124.9 million and $183.7 million of amortization expense in Fiscal Year 2021 and Fiscal Year 2020, respectively.

As of April 3, 2021, expected amortization expense attributable to Purchased Intangibles for each of the next five years and thereafter is as follows:
in thousandsAmount
2022$113,858 
2023111,232 
202465,936 
202521,688 
202612,844 
Thereafter16,056 
Total$341,614