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Intangible Assets | 12 Months Ended
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Jun. 28, 2024
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
June 28, 2024 |  |  |  |  |  |  |
Customer relationships | $ | 342,610 |  |  | $ | (155,903) |  |  | $ | 186,707 |  |  | 12.2 years
Licensing agreements and patents | 4,162 |  |  | (2,254) |  |  | 1,908 |  |  | 5.0 years
Completed technologies | 122,680 |  |  | (62,975) |  |  | 59,705 |  |  | 9.4 years
Other | 3,238 |  |  | (1,046) |  |  | 2,192 |  |  | 5.0 years
| $ | 472,690 |  |  | $ | (222,178) |  |  | $ | 250,512 |  |  |
June 30, 2023 |  |  |  |  |  |  |
Customer relationships | $ | 349,120 |  |  | $ | (130,756) |  |  | $ | 218,364 |  |  | 12.1 years
Licensing agreements and patents | 4,162 |  |  | (1,423) |  |  | 2,739 |  |  | 5.0 years
Completed technologies | 134,983 |  |  | (60,680) |  |  | 74,303 |  |  | 8.0 years
Backlog | 410 |  |  | (325) |  |  | 85 |  |  | 2.0 years
Other | 3,236 |  |  | (676) |  |  | 2,560 |  |  | 5.0 years
| $ | 491,911 |  |  | $ | (193,860) |  |  | $ | 298,051 |  |  |
Estimated future amortization expense for intangible assets remaining at June 28, 2024 is as follows:
Fiscal Year |  | Totals |  |  |  |  |
2025 |  | $ | 42,836 |  |  |  |  |  |
2026 |  | 38,199 |  |  |  |  |  |
2027 |  | 35,093 |  |  |  |  |  |
2028 |  | 31,169 |  |  |  |  |  |
2029 |  | 27,874 |  |  |  |  |  |
Thereafter |  | 73,949 |  |  |  |  |  |
Total future amortization expense |  | $ | 249,120 |  |  |  |  |  |
Estimated salvage value of identified intangible assets |  | 1,392 |  |  |  |  |  |
Net carrying amount |  | $ | 250,512 |  |  |  |  |  |
The Company reviews net intangible assets with finite lives for impairment when an event occurs indicating the potential for impairment. Based on the Company’s last assessment, the Company believes that the carrying values of net intangible assets were recoverable as of June 28, 2024. However, if business conditions deteriorate, the Company may be required to record impairment losses, and or increase the amortization of intangibles in the future. Any impairment charges that the Company may record in the future could be material to the results of operations and financial condition.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350-30/tableOfContent + Details
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