Goodwill and Acquired Intangible Assets, Net

9 Months Ended

Nov. 01, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangible Assets, Net

Goodwill

Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. The carrying value of goodwill as of November 1, 2025 and February 1, 2025 was $11.1 billion and $11.6 billion, respectively. On August 14, 2025, the Company completed the sale of its automotive ethernet business to Infineon Technologies AG. In connection with the transaction, during the quarter ended November 1, 2025, the Company derecognized $524.7 million of goodwill, which was previously classified as assets held for sale based on the relative fair value of the automotive ethernet business. See “Note 1 – Basis of Presentation” for discussion of the automotive ethernet business divestiture.

Acquired Intangible Assets, Net

As of November 1, 2025 and February 1, 2025, net carrying amounts excluding fully amortized intangible assets are as follows (in millions, except for weighted-average remaining amortization period):


	November 1, 2025
	Gross Carrying Amounts		Accumulated Amortization and Impairment		Net Carrying Amounts		Weighted-Average Remaining Amortization Period (Years)
Developed technologies	$	4,722.0	$	(3,516.2)	$	1,205.8	3.3
Customer contracts and related relationships	2,001.0		(1,555.2)		445.8		1.7

Trade names	50.0		(45.3)		4.7		0.5
Total acquired amortizable intangible assets	$	6,773.0	$	(5,116.7)	$	1,656.3	2.9
In-process research and development	322.0		—		322.0		n/a
Total acquired intangible assets	$	7,095.0	$	(5,116.7)	$	1,978.3


	February 1, 2025
	Gross Carrying Amounts		Accumulated Amortization and Impairment		Net Carrying Amounts		Weighted-Average Remaining Amortization Period (Years)
Developed technologies	$	5,162.0	$	(3,466.1)	$	1,695.9	3.6
Customer contracts and related relationships	2,039.0		(1,372.5)		666.5		2.4
Trade names	50.0		(37.8)		12.2		1.2

Total acquired amortizable intangible assets	$	7,251.0	$	(4,876.4)	$	2,374.6	3.3
In-process research and development	336.0		—		336.0		n/a
Total acquired intangible assets	$	7,587.0	$	(4,876.4)	$	2,710.6

The Company regularly assesses the results of its business to determine whether events or circumstances exist that indicate whether the carrying amount of the acquired intangible assets may not be recoverable. During fiscal 2025, impairment charges of $240.1 million related to certain acquired developed technologies intangible assets were recognized as part of restructuring actions. The gross carrying amounts and accumulated amortization of fully impaired intangible assets were excluded from the table above. See “Note 7 – Restructuring” for further information.

The intangible assets are amortized on a straight-line basis over the estimated useful lives, except for certain customer contracts and related relationships, which are amortized using an accelerated method of amortization over the expected customer lives, which more closely align with the pattern of realization of economic benefits expected to be obtained. The in-process research and development (“IPR&D”) will be accounted for as an indefinite-lived intangible asset and will not be amortized until the underlying project reaches technological feasibility and commercial production, at which point, the IPR&D is reclassified as an amortizable acquired intangible asset and amortized over the asset’s estimated useful life. Useful lives for these IPR&D projects are expected to range between 8 to 9 years. In the event the IPR&D is abandoned, the related assets will be written off.

Amortization expense for acquired intangible assets for the three and nine months ended November 1, 2025 was $229.0 million and $718.4 million, respectively. Amortization expense for acquired intangible assets for the three and nine months ended November 2, 2024 was $264.9 million and $805.5 million, respectively.

The following table presents the estimated future amortization expense of acquired amortizable intangible assets as of November 1, 2025 (in millions):


Fiscal Year	Amount
Remainder of 2026	$	223.3
2027	811.3
2028	282.1
2029	129.0
2030	106.8
Thereafter	103.8
	$	1,656.3