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Goodwill and Acquired Intangible Assets | 12 Months Ended
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Jun. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Acquired Intangibles | 7. Goodwill and Acquired Intangible Assets The following table presents our goodwill balance as of June 25, 2022 and June 26, 2021 (in millions):
|  | 2022 |  |  | 2021 |
Beginning balance |  | $ | 570.0 |  |  | $ | 360.8 |
Acquisition activity |  |  | 236.6 |  |  |  | 209.2 |
Ending balance |  | $ | 806.6 |  |  | $ | 570.0 |
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 2022 and 2021 (in millions):
|  |  |  |  | 2022 |  |  | 2021 |
|  | Weighted Average Life in Years |  |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |
Audio and video technology |  |  | 5.6 |  |  | $ | 232.1 |  | $ | (109.3 | ) | $ | 122.8 |  |  | $ | 138.6 |  | $ | (97.6 | ) | $ | 41.0 |
Customer relationships |  |  | 4.1 |  |  |  | 170.5 |  |  | (99.7 | ) |  | 70.8 |  |  |  | 125.5 |  |  | (63.8 | ) |  | 61.7 |
Wireless connectivity technology |  |  | 5.7 |  |  |  | 128.0 |  |  | (33.8 | ) |  | 94.2 |  |  |  | 93.0 |  |  | (14.2 | ) |  | 78.8 |
Video interface technology |  |  | 3.0 |  |  |  | 82.0 |  |  | (52.4 | ) |  | 29.6 |  |  |  | 82.0 |  |  | (25.1 | ) |  | 56.9 |
Display driver technology |  |  | 7.0 |  |  |  | 20.4 |  |  | (20.4 | ) |  | — |  |  |  | 20.4 |  |  | (17.5 | ) |  | 2.9 |
Backlog |  | Not applicable |  |  |  | — |  |  | — |  |  | — |  |  |  | 12.0 |  |  | (12.0 | ) |  | — |
Licensed technology and other |  |  | 4.5 |  |  |  | 9.9 |  |  | (7.5 | ) |  | 2.4 |  |  |  | 13.0 |  |  | (8.1 | ) |  | 4.9 |
Patents |  |  | 8.0 |  |  |  | 4.4 |  |  | (3.7 | ) |  | 0.7 |  |  |  | 4.4 |  |  | (3.2 | ) |  | 1.2 |
Tradename |  |  | 4.4 |  |  |  | 5.8 |  |  | (3.3 | ) |  | 2.5 |  |  |  | 4.8 |  |  | (1.7 | ) |  | 3.1 |
In process research and development |  | Not applicable |  |  |  | 67.0 |  |  | — |  |  | 67.0 |  |  |  | 51.0 |  |  | — |  |  | 51.0 |
Acquired intangibles, gross |  |  | 5.0 |  |  | $ | 720.1 |  | $ | (330.1 | ) | $ | 390.0 |  |  | $ | 544.7 |  | $ | (243.2 | ) | $ | 301.5 |
During fiscal 2022, we retired fully amortized intangible assets of $21.5 million of audio and video developed technology, $12.0 million in backlog and $3.1 million in licensed technology and other. During fiscal 2021, we retired fully amortized intangible assets of $143.6 million of display driver developed technology and $28.3 million of customer relationships. 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 $123.5 million in fiscal 2022, $110.1 million in fiscal 2021, and $51.4 million in fiscal 2020. 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):
2023 |  | $ | 127.5 |
2024 |  |  | 66.9 |
2025 |  |  | 60.0 |
2026 |  |  | 47.0 |
2027 |  |  | 16.6 |
Thereafter |  |  | 5.0 |
To be determined |  |  | 67.0 |
Future amortization |  | $ | 390.0 |

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- 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
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