Goodwill and Other Intangible Assets

12 Months Ended

Jun. 28, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the activity related to the carrying amount of goodwill:



	Carrying Amount
	(in millions)
Balance at June 30, 2017	$	10,014
Goodwill recorded in connection with acquisitions	61
Balance at June 29, 2018	10,075
Foreign currency translation adjustment	1
Balance at June 28, 2019	$	10,076

The following tables present intangible assets as of June 28, 2019 and June 29, 2018:



	June 28, 2019
	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in years)	(in millions)
Finite:
Existing technology	3	$	4,332	$	(3,316	)	$	1,016
Trade names and trademarks	7	648		(310		)	338
Customer relationships	6	635		(372		)	263
Other	2	180		(180		)	—
Leasehold interests	31	29		(7		)	22
Total finite intangible assets		5,824		(4,185		)	1,639
In-process research and development		72		—			72
Total intangible assets		$	5,896	$	(4,185	)	$	1,711



	June 29, 2018
	Weighted Average Amortization Period	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in years)	(in millions)
Finite:
Existing technology	3	$	4,323	$	(2,528	)	$	1,795
Trade names and trademarks	7	648		(222		)	426
Customer relationships	6	635		(299		)	336
Other	2	180		(161		)	19
Leasehold interests	31	32		(8		)	24
Total finite intangible assets		5,818		(3,218		)	2,600
In-process research and development		80		—			80
Total intangible assets		$	5,898	$	(3,218	)	$	2,680

As part of prior acquisitions, the Company recorded at the time of the acquisition acquired IPR&D for projects in progress that had not yet reached technological feasibility. IPR&D is initially accounted for as an indefinite-lived intangible asset. Once a project reaches technological feasibility, the Company reclassifies the balance to existing technology and begins to amortize the intangible asset over its estimated useful life. During 2019, the Company reclassified $8 million of acquired IPR&D to existing technology and commenced amortization over its estimated useful life of 2 years.

During 2019, 2018 and 2017, the Company did not record any impairment charges related to intangible assets.

Intangible assets are amortized over the estimated useful lives based on the pattern in which the economic benefits are expected to be received. Intangible asset amortization was as follows:



	2019		2018		2017
	(In millions)
Intangible asset amortization	$	968	$	1,185	$	1,169

The following table presents estimated future amortization expense for intangible assets currently subject to amortization as of June 28, 2019:



	Future Intangible Asset Amortization Expense
	(in millions)
Fiscal year
2020	$	758
2021	503
2022	226
2023	134
2024 and thereafter	18
Total future amortization expense	$	1,639