XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.22.2

Goodwill and Acquired Intangibles (Tables) | 6 Months Ended
--- | ---
Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Changes in the carrying amount of 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 |
Schedule of acquired intangibles with finite and indefinite lives (excluding goodwill) | 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 of acquired intangibles | 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 |
Estimated amortization expense | 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 |

X
- Definition Tabular disclosure of amortization expense of assets, excluding financial assets, that lack physical substance, having a limited useful life. + References No definition available. + Details
Name: | us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration