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Goodwill & Intangible Assets

12 Months Ended

Sep. 26, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table outlines changes to the carrying amount of goodwill (in thousands):

			Goodwill
Balance as of September 29, 2023			$	408,409
Acquired goodwill (1)			120,667
Translation adjustments			4,132
Balance as of September 27, 2024			$	533,208
Translation adjustments			1,757
Measurement period adjustments			(5,065)
Balance as of September 26, 2025			$	529,900

(1)     Refer to Note 15 "Business Combinations" for additional information related to our acquired goodwill.

Intangible Assets

Intangible assets are stated at their original cost less accumulated amortization, and principally consist of acquired patents, technology, and customer relationships and contracts. Intangible assets subject to amortization consisted of the following (in thousands):

			September 26, 2025												September 27, 2024
Intangible Assets, Net			Cost			Accumulated Amortization			Net						Cost			Accumulated Amortization			Net
Acquired patents and technology			$	587,743		$	(324,507)		$	263,236					$	579,768		$	(293,389)		$	286,379
Customer relationships			221,007			(87,401)			133,606						220,200			(72,374)			147,826
Other intangible assets			23,171			(22,956)			215						23,125			(22,816)			309
Total			$	831,921		$	(434,864)		$	397,057					$	823,093		$	(388,579)		$	434,514

During fiscal 2025, we purchased various patents for purchase consideration of $5.6 million and upon acquisition, these intangible assets had a weighted-average useful life of 14 years. During fiscal 2024, we acquired $274.2 million and $24.6 million of identifiable intangible assets in connection with the acquisitions of GE Licensing and THEO, respectively. Refer to Note 15 "Business Combinations" for additional information.

Amortization expense for our intangible assets is included in cost of licensing, cost of products and services, R&D, S&M, and G&A expenses in our consolidated statements of operations. Amortization expense was $45.3 million, $33.2 million, and $28.6 million in fiscal 2025, fiscal 2024, and fiscal 2023, respectively. As of September 26, 2025, expected amortization expense of our intangible assets in future fiscal periods was as follows (in thousands):

Fiscal Year			Amortization Expense
2026			$	44,751
2027			44,051
2028			42,014
2029			41,889
2030			40,567
Thereafter			183,785
Total			$	397,057

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- References

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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