Goodwill and Intangible Assets

12 Months Ended

Mar. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The table below summarizes the changes in the carrying amount of goodwill as follows:


	Total
Balance at March 29, 2019	$	1,336
Currency translation	(51)
Balance at March 27, 2020	$	1,285
Goodwill arising from acquisition	18,702
Currency translation	119
Balance at March 26, 2021	$	20,106

Intangible assets, net is as follows:


	March 26, 2021
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted- Average Lives
Patents	$	32,751	$	12,307	$	20,444	10 years
Customer relationships	6,193		5,865		328		9 years
Process technology	13,100		651		12,449		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		24		176		5 years
Legacy trademarks	627		58		569
Other	32		32		—
Total	$	56,953	$	20,587	$	36,366


	March 27, 2020
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted- Average Lives
Patents	$	29,115	$	9,834	$	19,281	10 years
Customer relationships	5,462		5,335		127		9 years
Process technology	1,650		1,650		—
Legacy trademarks	608		58		550
Other	32		32		—
Total	$	36,867	$	16,909	$	19,958

As summarized in Note 3, “Acquisition,” the Company completed the Acquisition during the fiscal year ended March 26, 2021. The Company paid an amount of $34,980 to acquire Voxtel, which represents its fair value on that date. Any excess of the Acquisition consideration over the fair value of the assets acquired and liabilities assumed was allocated to goodwill, which amounted to $18,702. As a result of the Acquisition, the Company recorded finite-life intangible assets of $13,600, the types and lives of which are detailed in the above-referenced financial note. In addition, as a result of the Acquisition, the Company recorded indefinite-life intangible assets of $2,400.

Intangible assets amortization expense was $3,332 and $1,805 for the fiscal years ended March 26, 2021 and March 27, 2020, respectively. The majority of the Company’s intangible assets are related to patents as noted above. The Company capitalizes external legal costs incurred in the defense of its patents when it believes that a significant, discernible increase in value will result from the defense and a successful outcome of the legal action is probable. When the Company capitalizes patent defense costs it amortizes these costs over the remaining estimated useful life of the patent, which is generally ten years. There were no such costs capitalized during either of the fiscal years 2021 or 2020.

As of March 26, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:


2022	$	3,423
2023	3,271
2024	3,153
2025	2,956
2026	2,741
Thereafter	20,822
Total	$	36,366