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Goodwill and Intangible Assets | 12 Months Ended
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Mar. 25, 2022
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 27, 2020 | $ | 1,285 |
Goodwill arising from acquisition | 18,702 |
Currency translation | 119 |
Balance at March 26, 2021 | $ | 20,106 |
Currency translation | (97) |
Balance at March 25, 2022 | $ | 20,009 |
Intangible assets, net is as follows:
|  | March 25, 2022
Description |  | Gross |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted-Average Lives
Patents |  | $ | 36,577 |  |  | $ | 15,304 |  |  | $ | 21,273 |  |  | 10 years
Customer relationships |  | 6,582 |  |  | 6,348 |  |  | 234 |  |  | 9 years
Process technology |  | 13,100 |  |  | 1,742 |  |  | 11,358 |  |  | 12 years
Indefinite-lived and legacy process technology |  | 4,050 |  |  | 1,650 |  |  | 2,400 |  |  |
Trademarks |  | 200 |  |  | 64 |  |  | 136 |  |  | 5 years
Legacy trademarks |  | 627 |  |  | 58 |  |  | 569 |  |  |
Other |  | 32 |  |  | 32 |  |  | — |  |  |
Total |  | $ | 61,168 |  |  | $ | 25,198 |  |  | $ | 35,970 |  |  |
|  | 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 |  |  |
The Company completed the Voxtel 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 Voxtel 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. In addition, as a result of the Acquisition, the Company recorded indefinite-life intangible assets of $2,400. Intangible assets amortization expense was $4,219, $3,332 and $1,805 for the fiscal years ended March 25, 2022, 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 significant costs capitalized during either of the fiscal years 2022 or 2021. As of March 25, 2022, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:
2023 | $ | 3,741 |
2024 | 3,593 |
2025 | 3,356 |
2026 | 3,115 |
2027 | 2,807 |
Thereafter | 19,358 |
Total | $ | 35,970 |

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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 + Details
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