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v3.23.2

Goodwill and Acquired Intangible Assets (Tables) | 12 Months Ended
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Jun. 24, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table presents our goodwill balance as of June 2023 and June 2022 (in millions):
|  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 806.6 |  |  | $ | 570.0 |
Acquisition activity |  |  | 9.8 |  |  |  | 236.6 |
Ending balance |  | $ | 816.4 |  |  | $ | 806.6 |
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 2023 and 2022 (in millions):
|  |  |  |  | 2023 |  |  | 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 |  |  | $ | (150.7 | ) |  | $ | 81.2 |  |  | $ | 232.1 |  |  | $ | (109.3 | ) |  | $ | 122.8 |
Customer relationships |  |  | 4.1 |  |  |  | 158.2 |  |  |  | (117.8 | ) |  |  | 40.4 |  |  |  | 170.5 |  |  |  | (99.7 | ) |  |  | 70.8 |
Wireless connectivity technology |  |  | 5.8 |  |  |  | 158.0 |  |  |  | (58.0 | ) |  |  | 100.0 |  |  |  | 128.0 |  |  |  | (33.8 | ) |  |  | 94.2 |
Video interface technology |  |  | 3.0 |  |  |  | 82.0 |  |  |  | (79.7 | ) |  |  | 2.3 |  |  |  | 82.0 |  |  |  | (52.4 | ) |  |  | 29.6 |
Human presence detection technology |  |  | 5.0 |  |  |  | 5.2 |  |  |  | (0.7 | ) |  |  | 4.5 |  |  |  | — |  |  |  | — |  |  |  | — |
Licensed technology and other |  |  | 4.4 |  |  |  | 10.8 |  |  |  | (8.9 | ) |  |  | 1.9 |  |  |  | 9.9 |  |  |  | (7.5 | ) |  |  | 2.4 |
Patents |  |  | 8.0 |  |  |  | 4.4 |  |  |  | (4.3 | ) |  |  | 0.1 |  |  |  | 4.4 |  |  |  | (3.7 | ) |  |  | 0.7 |
Tradename |  |  | 4.4 |  |  |  | 5.8 |  |  |  | (4.7 | ) |  |  | 1.1 |  |  |  | 5.8 |  |  |  | (3.3 | ) |  |  | 2.5 |
In process research and development |  | Not applicable |  |  |  | 67.0 |  |  |  | — |  |  |  | 67.0 |  |  |  | 67.0 |  |  |  | — |  |  |  | 67.0 |
Acquired intangibles, gross |  |  | 4.9 |  |  | $ | 723.3 |  |  | $ | (424.8 | ) |  | $ | 298.5 |  |  | $ | 699.7 |  |  | $ | (309.7 | ) |  | $ | 390.0 |
Schedule of Expected Annual Aggregate Amortization Expense | The following table presents expected annual aggregate amortization expense in future fiscal years (in millions):
2024 |  | $ | 73.8 |
2025 |  |  | 66.9 |
2026 |  |  | 53.8 |
2027 |  |  | 23.2 |
2028 |  |  | 10.6 |
Thereafter |  |  | 3.2 |
To be determined |  |  | 67.0 |
Future amortization |  | $ | 298.5 |

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