XML 50 R36.htm IDEA: XBRL DOCUMENT
v3.20.2

Goodwill and Intangible Assets (Tables) | 12 Months Ended
--- | ---
Jun. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill by Reporting Unit | Goodwill by reporting unit as of June 28, 2020 and June 30, 2019 was as follows:
(in millions of U.S. Dollars) | June 28, 2020 |  | June 30, 2019
Wolfspeed | $349.7 |  |  | $349.7 |
LED Products | 180.3 |  |  | $180.3 |
Consolidated total | $530.0 |  |  | $530.0 |
Schedule of Components of Intangible Assets | Intangible assets, net included the following:
| June 28, 2020 |  |  |  |  |  | June 30, 2019 |  |  |  |
(in millions of U.S. Dollars) | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $147.8 |  |  | ($70.0) |  |  | $77.8 |  |  | $147.8 |  |  | ($63.8) |  |  | $84.0 |
Developed technology | 74.9 |  |  | (29.7) |  |  | 45.2 |  |  | 75.9 |  |  | (24.5) |  |  | 51.4 |
Non-compete agreements | 12.2 |  |  | (7.1) |  |  | 5.1 |  |  | 12.2 |  |  | (4.1) |  |  | 8.1 |
Trade names | 0.5 |  |  | (0.5) |  |  | — |  |  | 0.5 |  |  | (0.5) |  |  | — |
Acquisition related intangible assets | 235.4 |  |  | (107.3) |  |  | 128.1 |  |  | 236.4 |  |  | (92.9) |  |  | 143.5 |
Patent and licensing rights | 114.6 |  |  | (63.1) |  |  | 51.5 |  |  | 120.4 |  |  | (66.0) |  |  | 54.4 |
Total intangible assets | 350.0 |  |  | (170.4) |  |  | 179.6 |  |  | 356.8 |  |  | (158.9) |  |  | 197.9 |
Schedule of Future Amortization Expense of Finite-lived Intangible Assets | Total future amortization expense of intangible assets is estimated to be as follows:
(in millions of U.S. Dollars) Fiscal Year Ending | Acquisition Related Intangibles |  | Patents |  | Total
June 27, 2021 | $14.5 |  |  | $8.6 |  |  | $23.1 |
June 26, 2022 | 13.5 |  |  | 7.7 |  |  | 21.2 |
June 25, 2023 | 11.0 |  |  | 6.7 |  |  | 17.7 |
June 30, 2024 | 10.4 |  |  | 5.7 |  |  | 16.1 |
June 29, 2025 | 10.4 |  |  | 4.7 |  |  | 15.1 |
Thereafter | 68.3 |  |  | 18.1 |  |  | 86.4 |
Total future amortization expense | $128.1 |  |  | $51.5 |  |  | $179.6 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration