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Goodwill | 12 Months Ended
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Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill | Goodwill During the first quarter of fiscal 2022, the Company announced a companywide effort, called 1MPACT, to lay the foundation for the next phase of the Company's value creation at scale. The Company realigned its internal organizational structure in the first quarter of fiscal 2022 shifting to two divisions, Processing and Microelectronics. The Mission division was merged under the Processing division. There was no change to the Microelectronics division. The internal reorganization and change in reporting units qualified as a triggering event and required goodwill to be tested for impairment. As required by ASC 350, the Company tested goodwill for impairment immediately before and after the reorganization. As a result of these analyses, it was determined that goodwill was not impaired before or after the reorganization. In accordance with FASB ASC 350, Intangibles-Goodwill and Other (“ASC 350”), the Company determines its reporting units based upon whether discrete financial information is available, if management regularly reviews the operating results of the component, the nature of the products offered to customers and the market characteristics of each reporting unit. A reporting unit is considered to be an operating segment or one level below an operating segment also known as a component. Component level financial information is reviewed by management across two divisions: Processing and Microelectronics. Accordingly, these were determined to be the Company's new reporting units. In the first quarter ended October 1, 2021, the Company assigned goodwill to the new reporting units based on the relative fair value of transferred operations. The following table sets forth the changes in the carrying amount of goodwill for the year ended July 1, 2022:
|  |  |  |  |  |  |  | Total
Balance at July 2, 2021 |  |  |  |  |  |  |  | $ | 804,906 |
Goodwill adjustment for the POC acquisition |  |  |  |  |  |  |  | (6,994) |
Goodwill adjustment for the Pentek acquisition |  |  |  |  |  |  |  | 158 |
Goodwill arising from the Avalex acquisition |  |  |  |  |  |  |  | 81,705 |
Goodwill arising from the Atlanta Micro acquisition |  |  |  |  |  |  |  | 58,105 |
Balance at July 1, 2022 |  |  |  |  |  |  |  | $ | 937,880 |
The Company performed its annual goodwill impairment test in the fourth quarter of fiscal 2022 with no impairment noted.

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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