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Intangible Assets, Goodwill and Other | 6 Months Ended
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Jul. 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 for a total purchase consideration of $48.8 billion. 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) for a total purchase consideration of $1.7 billion. 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:
| July 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 |  |  | $ | (1,157) |  |  | $ | 11,203 |  |  | $ | 12,360 |  |  | $ | (738) |  |  | $ | 11,622 |
Customer relationships | 12,324 |  |  | (2,925) |  |  | 9,399 |  |  | 12,324 |  |  | (1,973) |  |  | 10,351 |
Customer backlog | 809 |  |  | (809) |  |  | — |  |  | 809 |  |  | (712) |  |  | 97 |
Corporate trade name | 65 |  |  | (65) |  |  | — |  |  | 65 |  |  | (57) |  |  | 8 |
Product trademarks | 914 |  |  | (108) |  |  | 806 |  |  | 914 |  |  | (68) |  |  | 846 |
Identified intangible assets subject to amortization | 26,472 |  |  | (5,064) |  |  | 21,408 |  |  | 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 |  |  | $ | (5,064) |  |  | $ | 22,598 |  |  | $ | 27,666 |  |  | $ | (3,548) |  |  | $ | 24,118 |
Acquisition-related intangible amortization expense was $693 million and $1.5 billion for the three and six months ended July 1, 2023, respectively. Acquisition-related intangible amortization expense was $1.0 billion and $1.5 billion for the three and six months ended June 25, 2022, respectively. Based on the carrying value of acquisition-related intangibles recorded as of July 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 | $ | 1,288 |
2024 | 2,286 |
2025 | 2,061 |
2026 | 1,951 |
2027 | 1,844 |
2028 and thereafter | 11,978 |
Total | $ | 21,408 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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