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Goodwill and Acquired Intangible Assets (Tables)

12 Months Ended

Jun. 25, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

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

Summary of Life, Gross Carrying Value of Acquired Intangible Assets, and Related Accumulated Amortization

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

Schedule of Expected Annual Aggregate Amortization Expense

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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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
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- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

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-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
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