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Goodwill and Intangible Assets | 3 Months Ended
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Apr. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill The following table summarizes goodwill by applicable operating segments:
| Balance as of April 27, 2025 |  | Balance as of January 26, 2025
(in thousands) | Goodwill |  | Accumulated Impairment Losses |  | Carrying Value |  | Goodwill |  | Accumulated Impairment Losses |  | Carrying Value
Signal Integrity | $ | 267,205 |  |  | $ | — |  |  | $ | 267,205 |  |  | $ | 267,205 |  |  | $ | — |  |  | $ | 267,205 |
Analog Mixed Signal and Wireless | 83,101 |  |  | — |  |  | 83,101 |  |  | 83,101 |  |  | — |  |  | 83,101 |
IoT Systems and Connectivity | 946,605 |  |  | (763,111) |  |  | 183,494 |  |  | 945,896 |  |  | (763,111) |  |  | 182,785 |
Total goodwill | $ | 1,296,911 |  |  | $ | (763,111) |  |  | $ | 533,800 |  |  | $ | 1,296,202 |  |  | $ | (763,111) |  |  | $ | 533,091 |
The following table summarizes the change in goodwill by applicable operating segments:
(in thousands) | Signal Integrity |  | Analog Mixed Signal and Wireless |  | IoT Systems and Connectivity |  |  |  |  |  |  |  |  |  |  |  | Total
Balance at January 26, 2025 | $ | 267,205 |  |  | $ | 83,101 |  |  | $ | 182,785 |  |  |  |  |  |  |  |  |  |  |  |  | $ | 533,091 |
Cumulative translation adjustment | — |  |  | — |  |  | 709 |  |  |  |  |  |  |  |  |  |  |  |  | 709 |
Balance at April 27, 2025 | $ | 267,205 |  |  | $ | 83,101 |  |  | $ | 183,494 |  |  |  |  |  |  |  |  |  |  |  |  | $ | 533,800 |
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. Impairment 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 April 27, 2025, there was no indication of impairment of the Company's goodwill balances. Purchased and Other Intangibles The following table sets forth the Company's finite-lived intangible assets, which are amortized over their estimated useful lives:
|  |  | April 27, 2025
(in thousands, except estimated useful life) | Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Amount
Core technologies | 1-8 years |  | $ | 155,568 |  |  | $ | (46,883) |  |  | $ | (91,792) |  |  | $ | 16,893 |
Customer relationships | 1-10 years |  | 52,302 |  |  | (13,993) |  |  | (34,777) |  |  | 3,532 |
Trade name | 2-10 years |  | 9,000 |  |  | (3,158) |  |  | (4,816) |  |  | 1,026 |
Capitalized development costs | 3 years |  | 1,523 |  |  | (405) |  |  | — |  |  | 1,118 |
Software licenses | 7 years |  | 240 |  |  | (24) |  |  | — |  |  | 216 |
Total finite-lived intangible assets |  |  | $ | 218,633 |  |  | $ | (64,463) |  |  | $ | (131,385) |  |  | $ | 22,785 |
|  |  | January 26, 2025
(in thousands, except estimated useful life) | Estimated Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Accumulated Impairment |  | Net Carrying Amount
Core technologies | 1-8 years |  | $ | 154,728 |  |  | $ | (44,014) |  |  | $ | (91,792) |  |  | $ | 18,922 |
Customer relationships | 1-10 years |  | 51,781 |  |  | (13,394) |  |  | (34,777) |  |  | 3,610 |
Trade name | 2-10 years |  | 9,000 |  |  | (3,125) |  |  | (4,816) |  |  | 1,059 |
Capitalized development costs | 3 years |  | 1,368 |  |  | (278) |  |  | — |  |  | 1,090 |
Software licenses | 7 years |  | 200 |  |  | (14) |  |  | — |  |  | 186 |
Total finite-lived intangible assets |  |  | $ | 217,077 |  |  | $ | (60,825) |  |  | $ | (131,385) |  |  | $ | 24,867 |
Amortization expense of finite-lived intangible assets was as follows:
| Three Months Ended |  |
(in thousands) | April 27, 2025 |  | April 28, 2024 |  |  |  |
Core technologies | $ | 2,205 |  |  | $ | 2,281 |  |  |  |  |
Customer relationships | 113 |  |  | 114 |  |  |  |  |
Trade name | 33 |  |  | 193 |  |  |  |  |
Capitalized development costs | 127 |  |  | — |  |  |  |  |
Software licenses | 10 |  |  | — |  |  |  |  |
Total amortization expense | $ | 2,488 |  |  | $ | 2,588 |  |  |  |  |
Amortization expense of finite-lived intangible assets related to core technologies was recorded in "Amortization of acquired technology" within "Total cost of sales" in the Statements of Operations, and amortization expense of finite-lived intangible assets related to customer relationships and trade name was recorded in "Intangible amortization" within "Total operating expenses, net" in the Statements of Operations. Amortization expense of finite-lived intangible assets related to software licenses was recorded in "Cost of sales" in the Statements of Operations and amortization expense of finite-lived intangible assets related to capitalized development costs was recorded in "Product development and engineering" in the Statements of Operations. Future amortization expense of finite-lived intangible assets is expected as follows:
(in thousands) | Core Technologies |  | Customer Relationships |  | Trade Name |  | Capitalized Development Costs |  | Software Licenses |  | Total
2026 (remaining nine months) | $ | 6,427 |  |  | $ | 344 |  |  | $ | 100 |  |  | $ | 381 |  |  | $ | 26 |  |  | $ | 7,278 |
2027 | 3,749 |  |  | 458 |  |  | 133 |  |  | 508 |  |  | 34 |  |  | 4,882 |
2028 | 3,592 |  |  | 458 |  |  | 133 |  |  | 229 |  |  | 34 |  |  | 4,446 |
2029 | 3,125 |  |  | 458 |  |  | 133 |  |  | — |  |  | 34 |  |  | 3,750 |
2030 | — |  |  | 458 |  |  | 133 |  |  | — |  |  | 34 |  |  | 625 |
Thereafter | — |  |  | 1,356 |  |  | 394 |  |  | — |  |  | 54 |  |  | 1,804 |
Total expected amortization expense | $ | 16,893 |  |  | $ | 3,532 |  |  | $ | 1,026 |  |  | $ | 1,118 |  |  | $ | 216 |  |  | $ | 22,785 |
Also in "Other intangible assets, net" in the Balance Sheets, are finite-lived intangible assets to be amortized upon placement in service. The following table sets forth the Company's finite-lived intangible assets not yet placed in service:
(in thousands) |  | Capitalized Development Costs |  | Software Licenses |  | Total
Balance at January 26, 2025 |  | $ | 2,104 |  |  | $ | 6,140 |  |  | $ | 8,244 |
Additions |  | 709 |  |  | 4,950 |  |  | 5,659 |
Placed in service |  | (155) |  |  | (40) |  |  | (195) |
Balance at April 27, 2025 |  | $ | 2,658 |  |  | $ | 11,050 |  |  | $ | 13,708 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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