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Intangible Assets, Goodwill and Other | 3 Months Ended
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Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets Disclosure | Acquisition-related Intangible Assets and Goodwill Xilinx Acquisition On February 14, 2022, the Company completed the acquisition of Xilinx, Inc. (Xilinx), a leading provider of adaptive computing solutions, for a total purchase consideration of $48.8 billion. The acquisition of Xilinx expands the Company’s product portfolio, which now includes FPGAs, Adaptive SoC products and ACAP products. The Company allocated the purchase price to $27.3 billion of identified intangible assets and $1.3 billion of net liabilities, with the excess purchase price of $22.8 billion recorded as goodwill. Pensando Acquisition On May 26, 2022, the Company completed the acquisition of Pensando Systems, Inc. (Pensando), a leader in next-generation distributed computing, for a total purchase consideration of $1.7 billion. The acquisition of Pensando and its leading distributed services platform expands the Company’s ability to offer leadership solutions for cloud, enterprise, and edge customers. The Company allocated the purchase price to $349 million of identified intangible assets and $208 million of other net assets, with the excess purchase price of $1.1 billion recorded as goodwill. Acquisition-related Intangible Assets Acquisition-related intangibles were as follows:
| April 1, 2023 |  | December 31, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (In millions) |  | (In millions)
Developed technology | $ | 12,360 |  |  | $ | (948) |  |  | $ | 11,412 |  |  | $ | 12,360 |  |  | $ | (738) |  |  | $ | 11,622 |
Customer relationships | 12,324 |  |  | (2,464) |  |  | 9,860 |  |  | 12,324 |  |  | (1,973) |  |  | 10,351 |
Customer backlog | 809 |  |  | (806) |  |  | 3 |  |  | 809 |  |  | (712) |  |  | 97 |
Corporate trade name | 65 |  |  | (65) |  |  | — |  |  | 65 |  |  | (57) |  |  | 8 |
Product trademarks | 914 |  |  | (88) |  |  | 826 |  |  | 914 |  |  | (68) |  |  | 846 |
Identified intangible assets subject to amortization | 26,472 |  |  | (4,371) |  |  | 22,101 |  |  | 26,472 |  |  | (3,548) |  |  | 22,924 |
IPR&D not subject to amortization | 1,190 |  |  | — |  |  | 1,190 |  |  | 1,194 |  |  |  |  | 1,194 |
Total acquisition-related intangible assets | $ | 27,662 |  |  | $ | (4,371) |  |  | $ | 23,291 |  |  | $ | 27,666 |  |  | $ | (3,548) |  |  | $ | 24,118 |
Acquisition-related intangible amortization expense was $823 million and $479 million for the three months ended April 1, 2023 and March 26, 2022, respectively. Based on the carrying value of acquisition-related intangibles recorded as of April 1, 2023, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for acquisition-related intangibles is expected to be as follows:
Fiscal Year | (In millions)
Remainder of 2023 | $ | 1,981 |
2024 | 2,286 |
2025 | 2,061 |
2026 | 1,951 |
2027 | 1,844 |
2028 and thereafter | 11,978 |
Total | $ | 22,101 |

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