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Goodwill and Intangible Assets

3 Months Ended

Jun. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

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

			Total
Balance at March 26, 2021			$	20,106
Currency translation			12
Balance at June 25, 2021			$	20,118

Intangible assets, net is as follows:

						June 25, 2021
Description						Gross						Accumulated Amortization						Net Carrying Amount						Weighted- Average Lives
Patents						$	33,703					$	13,013					$	20,690					10 years
Customer relationships						6,923						6,610						313						9 years
Process technology						13,100						924						12,176						12 years
Indefinite-lived and legacy process technology						4,050						1,650						2,400
Trademarks						200						34						166						5 years
Legacy trademarks						627						71						556
Other						32						32						—
Total						$	58,635					$	22,334					$	36,301

						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

Intangible assets amortization expense was $1,019 and $713 for the three months ended June 25, 2021 and June 26, 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 10 years. There were no such costs capitalized during either of the first three months of fiscal years 2022 or 2021.

As of June 25, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:

Remainder of 2022			$	2,626
2023			3,363
2024			3,244
2025			3,042
2026			2,826
Thereafter			21,200
Total			$	36,301

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-URI http://asc.fasb.org/topic&trid=2144416

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