Acquired Intangibles and Goodwill

3 Months Ended

Sep. 24, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

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 (in millions):


			September 2022							June 2022
	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	$	231.9	$	(119.8	)	$	112.1	$	232.1	$	(109.3	)	$	122.8
Customer relationships		4.1		155.4		(93.3	)		62.1		170.5		(99.7	)		70.8
Wireless connectivity technology		5.7		128.0		(39.4	)		88.6		128.0		(33.8	)		94.2
Video interface technology		3.0		82.0		(59.2	)		22.8		82.0		(52.4	)		29.6
Licensed technology and other		4.5		9.9		(8.1	)		1.8		9.9		(7.5	)		2.4
Patents		8.0		4.4		(3.8	)		0.6		4.4		(3.7	)		0.7
Tradename		4.4		5.8		(3.8	)		2.0		5.8		(3.3	)		2.5
In process research and development	Not applicable			67.0		—			67.0		67.0		—			67.0
Acquired intangibles totals		4.9	$	684.4	$	(327.4	)	$	357.0	$	699.7	$	(309.7	)	$	390.0

The total amortization expense for the acquired intangible assets was $33.0 million and $25.2 million for the three months ended September 2022 and September 2021, respectively. During the three months ended September 2022, and September 2021, $23.5 million and $16.9 million, respectively, of amortization expense was included in our condensed consolidated statements of income in cost of revenue; the remainder was included under operating expenses in acquired intangibles amortization.

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net tangible and identifiable intangible assets acquired. There were no changes in our goodwill balance for the three months ended September 2022.