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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Sep. 28, 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) | Plasma |  | Blood Center |  | Hospital |  | Total
Carrying amount as of March 30, 2024 | $ | 29,043 |  |  | $ | 33,484 |  |  | $ | 502,555 |  |  | $ | 565,082 |
Purchase accounting adjustments | — |  |  | — |  |  | (19,248) |  |  | (19,248) |
Acquisitions | — |  |  | — |  |  | 69,542 |  |  | 69,542 |
Currency translation | — |  |  | 84 |  |  | 702 |  |  | 786 |
Carrying amount as of September 28, 2024 | $ | 29,043 |  |  | $ | 33,568 |  |  | $ | 553,551 |  |  | $ | 616,162 |
The decrease in goodwill of $19.2 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 September 28, 2024 and March 30, 2024 is as follows:
(In thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net
As of September 28, 2024 |  |  |  |  |
Amortizable: |  |  |  |  |
Developed technology | $ | 573,745 |  |  | $ | 199,048 |  |  | $ | 374,697 |
Customer contracts and related relationships | 264,703 |  |  | 194,055 |  |  | 70,648 |
Capitalized software | 84,783 |  |  | 73,160 |  |  | 11,623 |
Patents and other | 27,504 |  |  | 12,326 |  |  | 15,178 |
Trade names | 16,244 |  |  | 5,928 |  |  | 10,316 |
Total | $ | 966,979 |  |  | $ | 484,517 |  |  | $ | 482,462 |
Non-amortizable: |  |  |  |  |
In-process software development | $ | 5,375 |  |  |  |  |
Total | $ | 5,375 |  |  |  |  |
(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 relationships | 255,144 |  |  | 190,033 |  |  | 65,111 |
Capitalized software | 84,837 |  |  | 69,491 |  |  | 15,346 |
Patents and other | 24,504 |  |  | 11,820 |  |  | 12,684 |
Trade names | 14,320 |  |  | 5,456 |  |  | 8,864 |
Total | $ | 843,096 |  |  | $ | 455,213 |  |  | $ | 387,883 |
Non-amortizable: |  |  |  |  |
In-process research and development | $ | 13,667 |  |  |  |  |
In-process software development | 4,567 |  |  |  |  |
Total | $ | 18,234 |  |  |  |  |
During fiscal 2025, the Company acquired Attune Medical and recorded $96.1 million of developed technology, $7.8 million of customer contracts and related relationships and $1.9 million of trade name intangibles based on the 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. In the second quarter of fiscal 2024, the Company recorded an intangible asset impairment charge of $10.4 million related to the intangibles acquired as part of the enicor GmbH acquisition completed in fiscal 2021 within the Hospital business unit. 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. During the three and six months ended September 28, 2024, amortization expense was $14.2 million and $28.7 million, respectively. During the three and six months ended September 30, 2023, amortization expense was $9.4 million and $19.2 million, 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 |  | $ | 26,135 |
Fiscal 2026 |  | $ | 49,842 |
Fiscal 2027 |  | $ | 47,893 |
Fiscal 2028 |  | $ | 46,121 |
Fiscal 2029 |  | $ | 44,927 |

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