XML 28 R15.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Intangible Assets | 12 Months Ended
--- | ---
Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets Intangible assets consisted of the following:
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted Average Useful Life
July 1, 2022 |  |  |  |  |  |  |
Customer relationships | $ | 349,710 |  |  | $ | (99,219) |  |  | $ | 250,491 |  |  | 12.1 years
Licensing agreements and patents | 4,162 |  |  | (592) |  |  | 3,570 |  |  | 5.0 years
Completed technologies | 161,023 |  |  | (68,264) |  |  | 92,759 |  |  | 8.5 years
Backlog | 7,670 |  |  | (5,880) |  |  | 1,790 |  |  | 1.4 years
Other | 3,236 |  |  | (308) |  |  | 2,928 |  |  | 5.0 years
| $ | 525,801 |  |  | $ | (174,263) |  |  | $ | 351,538 |  |  |
July 2, 2021 |  |  |  |  |  |  |
Customer relationships | $ | 280,520 |  |  | $ | (69,474) |  |  | $ | 211,046 |  |  | 12.0 years
Licensing agreements and patents | 6 |  |  | — |  |  | 6 |  |  | — |
Completed technologies | 139,332 |  |  | (49,126) |  |  | 90,206 |  |  | 9.3 years
Backlog | 12,410 |  |  | (6,109) |  |  | 6,301 |  |  | 1.2 years
| $ | 432,268 |  |  | $ | (124,709) |  |  | $ | 307,559 |  |  |
Estimated future amortization expense for intangible assets remaining at July 1, 2022 is as follows:
Fiscal Year |  | Totals
2023 |  | $ | 53,487 |
2024 |  | 47,540 |
2025 |  | 42,836 |
2026 |  | 38,199 |
2027 |  | 35,093 |
Thereafter |  | 132,991 |
Total future amortization expense |  | $ | 350,146 |
Estimated salvage value of identified intangible assets |  | 1,392 |
Net carrying amount |  | $ | 351,538 |
The following table summarizes the preliminary estimated fair value of acquired intangible assets arising as a result of the Avalex acquisition. These assets are included in the Company's gross and net carrying amounts as of July 1, 2022.
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted Average Useful Life
Customer relationships | $ | 41,880 |  |  | $ | (3,224) |  |  | $ | 38,656 |  |  | 9.0 years
Completed technologies | 14,430 |  |  | (1,374) |  |  | 13,056 |  |  | 7.0 years
Backlog | 5,050 |  |  | (3,366) |  |  | 1,684 |  |  | 1.0 year
| $ | 61,360 |  |  | $ | (7,964) |  |  | $ | 53,396 |  |  |
The following table summarizes the preliminary estimated fair value of acquired intangible assets arising as a result of the Atlanta Micro acquisition. These assets are included in the Company's gross and net carrying amounts as of July 1, 2022.
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted Average Useful Life
Customer relationships | $ | 27,310 |  |  | $ | (797) |  |  | $ | 26,513 |  |  | 20.0 years
Completed technologies | 7,260 |  |  | (528) |  |  | 6,732 |  |  | 8.0 years
Backlog | 410 |  |  | (120) |  |  | 290 |  |  | 2.0 years
| $ | 34,980 |  |  | $ | (1,445) |  |  | $ | 33,535 |  |  |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for all or part of the information related to 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
Name: | us-gaap_IntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration