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GOODWILL AND INTANGIBLE ASSETS
 3 Months Ended
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
11. GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by operating segment for fiscal 2025 are as follows:
(In thousands)PlasmaBlood CenterHospitalTotal
Carrying amount as of March 30, 2024
$29,043 $33,484 $502,555 $565,082 
Purchase accounting adjustments— — (19,962)(19,962)
Acquisitions— — 69,542 69,542 
Currency translation— (239)(1,076)(1,315)
Carrying amount as of June 29, 2024
$29,043 $33,245 $551,059 $613,347 
The decrease in goodwill of $20.0 million for purchase accounting adjustments was primarily related to the Company obtaining additional facts and information to finalize the pre-acquisition tax returns and associated analyses for OpSens. This resulted in the Company revising its estimate of the net deferred tax liability recorded as of the acquisition date. Refer to Note 3, Acquisitions and Strategic Investments, for additional information regarding the acquisitions of OpSens and Attune Medical.

The gross carrying amount of intangible assets and the related accumulated amortization as of June 29, 2024 and March 30, 2024 is as follows:
(In thousands)Gross Carrying
Amount		Accumulated
Amortization		Net
As of June 29, 2024
  
Amortizable:
Developed technology$570,816 $189,019 $381,797 
Customer contracts and related relationships262,204 191,487 70,717 
Capitalized software84,837 71,395 13,442 
Patents and other24,504 12,075 12,429 
Trade names16,071 5,683 10,388 
Total$958,432 $469,659 $488,773 
Non-amortizable:
In-process software development$6,162 
Total$6,162 
(In thousands)Gross Carrying
Amount		Accumulated
Amortization		Net
As of March 30, 2024
  
Amortizable:
Developed technology$464,291 $178,413 $285,878 
Customer contracts and related relationships255,144 190,033 65,111 
Capitalized software84,837 69,491 15,346 
Patents and other24,504 11,820 12,684 
Trade names14,320 5,456 8,864 
Total$843,096 $455,213 $387,883 
Non-amortizable:
In-process research and development$13,667 
In-process software development4,567 
Total$18,234 

During the first quarter of fiscal 2025, the Company acquired Attune Medical and recorded $94.0 million of developed technology, $7.6 million of customer contracts and related relationships and $1.8 million of trade name intangibles based on our preliminary purchase accounting valuation. Refer to Note 3, Acquisitions and Strategic Investments, for additional information regarding the acquisition.

In the first quarter of fiscal 2025, the Company announced the commercialization of MVP XL and moved the related in-process research and development intangible asset to developed technologies, and commenced amortization.
Intangible assets include the value assigned to license rights and other developed technology, patents, customer contracts and relationships and trade names. The estimated useful lives for all of these intangible assets are approximately 5 to 15 years.

Amortization expense was $14.5 million and $9.7 million for the three months ended June 29, 2024 and July 1, 2023, respectively.

Future annual amortization expense on intangible assets for the next five years is estimated to be as follows:
(In thousands)
Remainder of Fiscal 2025$39,591 
Fiscal 2026$49,070 
Fiscal 2027$47,122 
Fiscal 2028$45,350 
Fiscal 2029$44,156