v3.23.1

Intangibles (Tables)

9 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The following tables present details of the Company’s intangibles:

(in thousands)			Gross Carrying Amount						Accumulated Amortization												Foreign Currency Translation Adjustment						Net
As of March 31, 2023
Software			$	10,379					$	(7,908)											$	—					$	2,471
Total intangibles (1)			$	10,379					$	(7,908)											$	—					$	2,471

(1)Customer relationships and backlog were written-off in March 2023.

(in thousands)			Gross Carrying Amount						Accumulated Amortization						Foreign Currency Translation Adjustment						Net
As of June 24, 2022
Software			$	10,484					$	(7,681)					$	—					$	2,803
Customer relationships			4,373						(3,610)						(58)						705
Backlog			119						(119)						—						—
Total intangibles			$	14,976					$	(11,410)					$	(58)					$	3,508

Schedule of Weighted-Average Remaining Life of Intangible Assets

The weighted-average remaining life of software and customer relationships was:

(years)			As of March 31, 2023						As of June 24, 2022
Software			3.2						3.8
Customer relationships			—						3.1
Total intangibles			3.2						3.8

Schedule of Estimated Future Amortization of Intangibles Assets

Based on the carrying amount of intangibles as of March 31, 2023, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows:

(in thousands)
2023 (remaining three months)			$	235
2024			847
2025			660
2026			438
2027			230
Thereafter			61
Total			$	2,471

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- Definition

Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
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