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Goodwill and Intangible Assets

6 Months Ended

Sep. 24, 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			(13)
Balance at September 24, 2021			$	20,093

Intangible assets, net is as follows:

						September 24, 2021
Description						Gross						Accumulated Amortization						Net Carrying Amount						Weighted- Average Lives
Patents						$	34,616					$	13,799					$	20,817					10 years
Customer relationships						6,951						6,668						283						9 years
Process technology						13,100						1,197						11,903						12 years
Indefinite-lived and legacy process technology						4,050						1,650						2,400
Trademarks						200						44						156						5 years
Legacy trademarks						629						57						572
Other						32						32						—
Total						$	59,578					$	23,447					$	36,131

						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 $1,084 and $2,103 for the three- and six-month periods ended September 24, 2021, respectively, and $671 and $1,384 for the three- and six-month periods ended September 25, 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 significant costs capitalized during either of the first six months of fiscal years 2022 or 2021.

As of September 24, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:

Remainder of 2022			$	2,326
2023			3,360
2024			3,241
2025			3,039
2026			2,823
Thereafter			21,342
Total			$	36,131

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- References

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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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