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Acquired Intangibles
 12 Months Ended
Jun. 29, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Acquired Intangibles

5.

Acquired Intangibles

The following table summarizes the life, the gross carrying value of our acquired intangible assets, and the related accumulated amortization as of the end of fiscal 2019 and 2018 (in millions):

 

 

 

 

 

 

 

2019

 

 

2018

 

 

 

Weighted

Average

Life in

Years

 

 

Gross

Carrying

Value

 

Accumulated

Amortization

 

Net Carrying

Value

 

 

Gross

Carrying

Value

 

Accumulated

Amortization

 

Net Carrying

Value

 

Display driver technology

 

 

5.3

 

 

$

164.0

 

$

(148.1

)

$

15.9

 

 

$

164.0

 

$

(116.5

)

$

47.5

 

Audio and video technology

 

 

5.3

 

 

 

138.6

 

 

(49.4

)

 

89.2

 

 

 

133.9

 

 

(22.8

)

 

111.1

 

Customer relationships

 

 

4.1

 

 

 

81.8

 

 

(49.9

)

 

31.9

 

 

 

81.8

 

 

(38.5

)

 

43.3

 

Fingerprint authentication

   technology

 

 

4.7

 

 

 

47.2

 

 

(47.2

)

 

—

 

 

 

55.7

 

 

(53.7

)

 

2.0

 

Licensed technology and other

 

 

4.2

 

 

 

7.7

 

 

(3.6

)

 

4.1

 

 

 

9.0

 

 

(3.0

)

 

6.0

 

Patents

 

 

8.1

 

 

 

4.4

 

 

(2.0

)

 

2.4

 

 

 

4.6

 

 

(1.7

)

 

2.9

 

Tradename

 

 

7.0

 

 

 

1.8

 

 

(0.5

)

 

1.3

 

 

 

1.9

 

 

(0.2

)

 

1.7

 

Backlog

 

 

0.0

 

 

 

—

 

 

—

 

 

—

 

 

 

0.5

 

 

(0.5

)

 

—

 

In-process research and

   development

 

Not

applicable

 

 

 

—

 

 

—

 

 

—

 

 

 

4.7

 

 

—

 

 

4.7

 

Acquired intangibles, gross

 

 

4.4

 

 

$

445.5

 

$

(300.7

)

$

144.8

 

 

$

456.1

 

$

(236.9

)

$

219.2

 

 

In fiscal 2019, there was $8.5 million of fingerprint developed technology, $1.3 million of licensed technology and other, $0.5 million of backlog and $0.2 million of patents retired which were fully depreciated. In fiscal 2018, there was $20.1 million of customer relationships, $4.3 million of fingerprint developed technology and $0.1 million of patents retired which were fully depreciated.  

 

Amortization expense is calculated using the straight-line method over the estimated useful lives of the acquired intangibles.  The total amortization expense for the acquired intangible assets was $74.4 million in fiscal 2019, $83.9 million in fiscal 2018, and $59.3 million in fiscal 2017.  This amortization expense was included in our consolidated statements of operations as acquired intangibles amortization and cost of revenue.

The following table presents expected annual aggregate amortization expense in future fiscal years (in millions):

 

2020

 

$

51.4

 

2021

 

 

37.5

 

2022

 

 

32.9

 

2023

 

 

20.4

 

2024

 

 

2.5

 

Thereafter

 

 

0.1

 

Future amortization

 

$

144.8