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Goodwill and Intangible Assets

6 Months Ended

Jul. 26, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The carrying amounts of goodwill by applicable reporting unit were as follows:

(in thousands)			Signal Integrity						Wireless and Sensing						Protection						Total
Balance at January 26, 2020			$	274,085					$	72,128					$	4,928					$	351,141
Balance at July 26, 2020			$	274,085					$	72,128					$	4,928					$	351,141

Goodwill is not amortized, but is tested for impairment at the reporting unit level using either a qualitative or quantitative assessment on an annual basis during the fourth quarter of each fiscal year, and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. The recoverability of goodwill is measured at the reporting unit level by comparing the reporting unit’s carrying amount, including goodwill, to the fair market value of the reporting unit. As of July 26, 2020, there was no indication of impairment of the Company's goodwill balances.

Purchased Intangibles

The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions, which are amortized over their estimated useful lives:

									July 26, 2020																														January 26, 2020
(in thousands, except estimated useful life)			Estimated Useful Life						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Core technologies			3-8 years						$	43,300					$	(28,148)					$	15,152					$	82,857					$	(63,434)					$	19,423
Customer relationships									—						—						—						6,000						(5,411)						589
Total finite-lived intangible assets									$	43,300					$	(28,148)					$	15,152					$	88,857					$	(68,845)					$	20,012

 Amortization expense of finite-lived intangible assets recorded in the Statements of Income for each period was as follows:

			Three Months Ended																		Six Months Ended
(in thousands)			July 26, 2020						July 28, 2019						July 26, 2020						July 28, 2019
Core technologies			$	1,798					$	3,475					$	4,271					$	7,634
Customer relationships			222						433						589						1,417
Total amortization expense			$	2,020					$	3,908					$	4,860					$	9,051

Future amortization expense of finite-lived intangible assets is expected as follows:

(in thousands)
Fiscal Year Ending:
Fiscal year 2021 (remaining six months)			$	3,406
Fiscal year 2022			4,942
Fiscal year 2023			4,002
Fiscal year 2024			1,676
Fiscal year 2025			287
Thereafter			839
Total expected amortization expense			$	15,152

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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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