v3.22.4
Acquired Intangibles and Goodwill
6 Months Ended
Dec. 24, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Acquired Intangibles and Goodwill . Acquired Intangibles and Goodwill

Goodwill

The following table represents the change in our goodwill balance for the six and twelve month periods ended December 2022 and June 2022, respectively (in millions):

 

 

December 2022

 

 

June 2022

 

Beginning balance

$

806.6

 

 

$

570.0

 

Acquisition activity

 

9.8

 

 

 

236.6

 

Ending balance

$

816.4

 

 

$

806.6

 

Acquired Intangibles

The following table summarizes the life, the gross carrying value and the related accumulated amortization of our acquired intangible assets (in millions):

 

 

 

 

 

 

December 2022

 

 

June 2022

 

 

 

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

 

 

$

(130.3

)

 

$

101.6

 

 

$

232.1

 

 

$

(109.3

)

 

$

122.8

 

Customer relationships

 

 

4.1

 

 

 

158.2

 

 

 

(101.4

)

 

 

56.8

 

 

 

170.5

 

 

 

(99.7

)

 

 

70.8

 

Wireless connectivity technology

 

 

5.7

 

 

 

128.0

 

 

 

(45.0

)

 

 

83.0

 

 

 

128.0

 

 

 

(33.8

)

 

 

94.2

 

Video interface technology

 

 

3.0

 

 

 

82.0

 

 

 

(66.0

)

 

 

16.0

 

 

 

82.0

 

 

 

(52.4

)

 

 

29.6

 

Human presence detection technology

 

 

5.0

 

 

 

5.2

 

 

 

(0.2

)

 

 

5.0

 

 

 

 

 

 

 

 

 

 

Licensed technology and other

 

 

4.4

 

 

 

10.8

 

 

 

(8.5

)

 

 

2.3

 

 

 

9.9

 

 

 

(7.5

)

 

 

2.4

 

Patents

 

 

8.0

 

 

 

4.4

 

 

 

(4.0

)

 

 

0.4

 

 

 

4.4

 

 

 

(3.7

)

 

 

0.7

 

Tradename

 

 

4.4

 

 

 

5.8

 

 

 

(4.2

)

 

 

1.6

 

 

 

5.8

 

 

 

(3.3

)

 

 

2.5

 

In process research and development

 

Not applicable

 

 

 

67.0

 

 

 

 

 

 

67.0

 

 

 

67.0

 

 

 

 

 

 

67.0

 

Acquired intangibles totals

 

 

4.9

 

 

$

693.3

 

 

$

(359.6

)

 

$

333.7

 

 

$

699.7

 

 

$

(309.7

)

 

$

390.0

 

 

The total amortization expense for the acquired intangible assets was $32.2 million and $29.2 million for the three months ended December 2022 December 2021, respectively, and $65.2 million and 54.4 million for the six months ended December 2022 and December 2021, respectively.

During the three months ended December 2022 and December 2021, $23.3 million and $19.9 million, respectively, and $46.8 million and $36.8 million for the six months ended December 2022 and December 2021, respectively, of amortization expense was included in our condensed consolidated statements of income in cost of revenue; the remainder was included in acquired intangibles amortization.