Goodwill and Intangible Assets

12 Months Ended

Mar. 25, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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