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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Dec. 24, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS Goodwill The balance of goodwill is approximately $1.6 billion as of December 24, 2023 and June 25, 2023. As of December 24, 2023 and June 25, 2023, $65.4 million of the goodwill balance is tax deductible and the remaining balance is not tax deductible due to purchase accounting and applicable foreign law. Intangible Assets The following table provides the Company’s intangible assets, other than goodwill:
| December 24, 2023 |  | June 25, 2023
| Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
| (in thousands)
Customer relationships | $ | 644,126 |  |  | $ | (632,781) |  |  | $ | 11,345 |  |  | $ | 644,138 |  |  | $ | (631,420) |  |  | $ | 12,718 |
Existing technology | 734,937 |  |  | (680,302) |  |  | 54,635 |  |  | 717,331 |  |  | (674,549) |  |  | 42,782 |
Patents and other intangible assets | 200,063 |  |  | (127,409) |  |  | 72,654 |  |  | 199,532 |  |  | (116,659) |  |  | 82,873 |
Intangible assets subject to amortization | 1,579,126 |  |  | (1,440,492) |  |  | 138,634 |  |  | 1,561,001 |  |  | (1,422,628) |  |  | 138,373 |
In process research and development | 12,447 |  |  | — |  |  | 12,447 |  |  | 30,081 |  |  | — |  |  | 30,081 |
Total intangible assets | $ | 1,591,573 |  |  | $ | (1,440,492) |  |  | $ | 151,081 |  |  | $ | 1,591,082 |  |  | $ | (1,422,628) |  |  | $ | 168,454 |
The Company recognized $12.8 million and $12.2 million in intangible asset amortization expense during the three months ended December 24, 2023 and December 25, 2022, respectively. The Company recognized $26.8 million and $23.8 million in intangible asset amortization expense during the six months ended December 24, 2023 and December 25, 2022, respectively. The estimated future amortization expense of intangible assets as of December 24, 2023, is reflected in the table below. The table excludes $22.4 million of capitalized costs for intangible assets that have not been placed into service.
Fiscal Year | Amount
| (in thousands)
2024 (remaining 6 months) | $ | 22,082 |
2025 | 30,938 |
2026 | 20,098 |
2027 | 15,200 |
2028 | 11,951 |
Thereafter | 15,985 |
| $ | 116,254 |

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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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