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Goodwill and Acquired Intangible Assets (Tables)
 12 Months Ended
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

The following table presents our goodwill balance as of June 2024 and June 2023 (in millions):

 

 

 

 

 

 

 

2024

 

 

2023

 

Beginning balance

$

816.4

 

 

$

806.6

 

Acquisition activity

 

—

 

 

 

9.8

 

Ending balance

$

816.4

 

 

$

816.4

 
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 2024 and 2023 (in millions):

 

 

 

 

 

 

2024

 

 

2023

 

 

 

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

 

 

$

(175.5

)

 

$

56.4

 

 

$

231.9

 

 

$

(150.7

)

 

$

81.2

 

Customer relationships

 

 

4.1

 

 

158.2

 

 

 

(134.1

)

 

 

24.1

 

 

 

158.2

 

 

 

(117.8

)

 

 

40.4

 

Wireless connectivity technology

 

 

5.5

 

 

 

245.5

 

 

 

(90.1

)

 

 

155.4

 

 

 

158.0

 

 

 

(58.0

)

 

 

100.0

 

Video interface technology

 

 

3.4

 

 

 

133.0

 

 

 

(85.2

)

 

 

47.8

 

 

 

82.0

 

 

 

(79.7

)

 

 

2.3

 

Human presence detection technology

 

 

5.0

 

 

 

5.2

 

 

 

(1.7

)

 

 

3.5

 

 

 

5.2

 

 

 

(0.7

)

 

 

4.5

 

Licensed technology and other

 

 

4.4

 

 

10.7

 

 

 

(9.6

)

 

 

1.1

 

 

 

10.8

 

 

 

(8.9

)

 

 

1.9

 

Patents

 

 

8.0

 

 

4.4

 

 

 

(4.4

)

 

 

—

 

 

 

4.4

 

 

 

(4.3

)

 

 

0.1

 

Tradename

 

 

4.4

 

 

 

5.8

 

 

 

(5.7

)

 

 

0.1

 

 

 

5.8

 

 

 

(4.7

)

 

 

1.1

 

In process research and development

 

Not applicable

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

67.0

 

 

 

—

 

 

 

67.0

 

Acquired intangibles totals

 

 

4.9

 

$

794.7

 

 

$

(506.3

)

 

$

288.4

 

 

$

723.3

 

 

$

(424.8

)

 

$

298.5

 
Schedule of Expected Annual Aggregate Amortization Expense

The following table presents expected annual aggregate amortization expense in future fiscal years (in millions):

 

2025

$

97.9

 

2026

 

84.8

 

2027

 

50.0

 

2028

 

 

33.9

 

2029

 

 

15.5

 

Thereafter

 

6.3

 

Future amortization

$

288.4