GOODWILL AND INTANGIBLE ASSETS

Goodwill

Intangible assets classified as goodwill are not amortized. The goodwill established in connection with our acquisitions represents the estimated future economic benefits arising from the assets we acquired that did not qualify to be identified and recognized individually. The goodwill also includes the value of expected future cash flows of the acquisitions, expected synergies with our other affiliates and other unidentifiable intangible assets. The Company performs an annual impairment test of its goodwill during the fourth quarter of each fiscal year, which coincides with the completion of its annual forecasting and refreshing of business outlook process.

The Company performed its annual impairment test in the fourth quarter of fiscal 2018 and concluded that no impairment charge was required. Any future adverse changes in expected operating results and/or unfavorable changes in other economic factors used to estimate fair values could result in a noncash impairment in the future.

During the three months ended December 29, 2018, the Company reviewed qualitative factors to ascertain if a "triggering" event may have taken place that may have the effect of reducing the fair value of the reporting unit below its carrying value and concluded that no triggering event had occurred.

The following table summarizes the Company's recorded goodwill as of December 29, 2018 and September 29, 2018:



	As of
(in thousands)	December 29, 2018		September 29, 2018
Capital Equipment	$	29,993	$	30,159
APS	26,347		26,391
Total goodwill	$	56,340	$	56,550

Intangible Assets

Intangible assets with determinable lives are amortized over their estimated useful lives. The Company's intangible assets consist primarily of developed technology, customer relationships and trade and brand names.

The following table reflects net intangible assets as of December 29, 2018 and September 29, 2018:



	As of						Average estimated
(dollar amounts in thousands)	December 29, 2018			September 29, 2018			useful lives (in years)
Developed technology	$	89,687		$	90,500		7.0 to 15.0
Accumulated amortization	(46,153		)	(45,229		)
Net developed technology	$	43,534		$	45,271

Customer relationships	$	35,896		$	36,131		5.0 to 6.0
Accumulated amortization	(30,352		)	(29,820		)
Net customer relationships	$	5,544		$	6,311

Trade and brand names	$	7,338		$	7,377		7.0 to 8.0
Accumulated amortization	(6,164		)	(6,088		)
Net trade and brand name	$	1,174		$	1,289

Other intangible assets	$	2,500		$	2,500		1.9
Accumulated amortization	(2,500		)	(2,500		)
Net other intangible assets	$	—		$	—

Net intangible assets	$	50,252		$	52,871

The following table reflects estimated annual amortization expense related to intangible assets as of December 29, 2018:



	As of
(in thousands)	December 29, 2018
Remaining fiscal 2019	$	5,645
Fiscal 2020	7,526
Fiscal 2021	5,451
Fiscal 2022	4,467
Fiscal 2023 and onwards	27,163
Total amortization expense	$	50,252