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Acquired Intangibles and Goodwill
 3 Months Ended
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Acquired Intangibles and Goodwill

7. Acquired Intangibles and Goodwill

Acquired Intangibles

The following table summarizes the life, the gross carrying value and the related accumulated amortization of our acquired intangible assets as of September 30, 2019 and June 30, 2019 (in millions):

 

 

 

 

 

 

 

September 30, 2019

 

 

June 30, 2019

 

 

 

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

 

 

$

(155.9

)

 

$

8.1

 

 

$

164.0

 

 

$

(148.1

)

 

$

15.9

 

Audio and video

   technology

 

 

5.3

 

 

 

138.6

 

 

 

(56.1

)

 

 

82.5

 

 

 

138.6

 

 

 

(49.4

)

 

 

89.2

 

Customer relationships

 

 

4.1

 

 

 

81.8

 

 

 

(52.8

)

 

 

29.0

 

 

 

81.8

 

 

 

(49.9

)

 

 

31.9

 

Fingerprint authentication

   technology

 

Not

applicable

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

47.2

 

 

 

(47.2

)

 

 

—

 

Licensed technology

   and other

 

 

4.2

 

 

 

7.7

 

 

 

(4.1

)

 

 

3.6

 

 

 

7.7

 

 

 

(3.6

)

 

 

4.1

 

Patents

 

 

8.1

 

 

 

4.4

 

 

 

(2.2

)

 

 

2.2

 

 

 

4.4

 

 

 

(2.0

)

 

 

2.4

 

Tradename

 

 

7.0

 

 

 

1.8

 

 

 

(0.6

)

 

 

1.2

 

 

 

1.8

 

 

 

(0.5

)

 

 

1.3

 

Acquired intangibles,

   gross

 

 

4.9

 

 

$

398.3

 

 

$

(271.7

)

 

$

126.6

 

 

$

445.5

 

 

$

(300.7

)

 

$

144.8

 

 

The total amortization expense for the acquired intangible assets was $18.2 million and $20.0 million for the three months ended September 30, 2019 and 2018, respectively. During the three months ended September 30, 2019 and 2018, $15.3 million and $17.0 million, respectively, of amortization expense was included in our condensed consolidated statements of income in cost of revenue; the remainder was included in acquired intangibles amortization.

The following table presents expected annual fiscal year aggregate amortization expense as of September 30, 2019 (in millions):

 

Remainder of 2020

 

$

33.2

 

2021

 

 

37.5

 

2022

 

 

32.9

 

2023

 

 

20.4

 

2024

 

 

2.5

 

2025

 

 

0.1

 

Future amortization

 

$

126.6

 

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net tangible and identifiable intangible assets acquired.  There was no change in goodwill during the three months ended September 30, 2019.