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Goodwill and Acquired Intangibles | 6 Months Ended
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Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND ACQUIRED INTANGIBLES | GOODWILL AND ACQUIRED INTANGIBLES Goodwill The changes in the carrying amount of goodwill during the six months ended July 2, 2022 were as follows:
| Gross Carrying Amount
| (In thousands)
Balance as of January 1, 2022 | $ | 928,358 |
Goodwill resulting from acquisitions | 9,984 |
Effect of foreign currency translation | (13,882) |
Balance as of July 2, 2022 | $ | 924,460 |
Acquired Intangibles, Net Acquired intangibles as of July 2, 2022 were as follows, excluding intangibles that were fully amortized as of January 1, 2022:
| Gross Carrying Amount |  | Accumulated Amortization |  | Acquired Intangibles, Net
| (In thousands)
Existing technology | $ | 397,401 |  |  | $ | (259,372) |  |  | $ | 138,029 |
Agreements and relationships | 193,674 |  |  | (129,517) |  |  | 64,157 |
Tradenames, trademarks and patents | 9,048 |  |  | (2,253) |  |  | 6,795 |
Total acquired intangibles with definite lives | 600,123 |  |  | (391,142) |  |  | 208,981 |
In-process technology | 6,800 |  |  | — |  |  | 6,800 |
Total acquired intangibles | $ | 606,923 |  |  | $ | (391,142) |  |  | $ | 215,781 |
In-process technology as of July 2, 2022 consisted of acquired projects that, if completed, will contribute to Cadence’s existing product offerings. As of July 2, 2022, these projects were expected to be completed during the second quarter of fiscal 2023. During the three and six months ended July 2, 2022, there were no transfers from in-process technology to existing technology. Acquired intangibles as of January 1, 2022 were as follows, excluding intangibles that were fully amortized as of January 2, 2021:
| Gross Carrying Amount |  | Accumulated Amortization |  | Acquired Intangibles, Net
| (In thousands)
Existing technology | $ | 405,481 |  |  | $ | (254,599) |  |  | $ | 150,882 |
Agreements and relationships | 205,057 |  |  | (130,187) |  |  | 74,870 |
Tradenames, trademarks and patents | 10,666 |  |  | (3,153) |  |  | 7,513 |
Total acquired intangibles | $ | 621,204 |  |  | $ | (387,939) |  |  | $ | 233,265 |
Amortization expense from existing technology and maintenance agreements is included in cost of product and maintenance. Amortization expense for the three and six months ended July 2, 2022 and July 3, 2021 by condensed consolidated income statement caption was as follows:
| Three Months Ended |  | Six Months Ended
| July 2, 2022 |  | July 3, 2021 |  | July 2, 2022 |  | July 3, 2021
| (In thousands)
Cost of product and maintenance | $ | 10,068 |  |  | $ | 12,232 |  |  | $ | 22,039 |  |  | $ | 24,000 |
Amortization of acquired intangibles | 4,633 |  |  | 5,030 |  |  | 9,597 |  |  | 9,661 |
Total amortization of acquired intangibles | $ | 14,701 |  |  | $ | 17,262 |  |  | $ | 31,636 |  |  | $ | 33,661 |
As of July 2, 2022, the estimated amortization expense for intangible assets with definite lives was as follows for the following five fiscal years and thereafter:
| (In thousands)
2022 - remaining period | $ | 20,763 |
2023 | 37,432 |
2024 | 35,672 |
2025 | 23,744 |
2026 | 18,379 |
2027 | 16,862 |
Thereafter | 56,129 |
Total estimated amortization expense | $ | 208,981 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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