Goodwill and Other Intangible Assets |
12 Months Ended |
|---|---|
Jul. 03, 2026 | |
| Intangible Asset, Goodwill and Other [Abstract] | |
| Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill The carrying amount of goodwill was $1.2 billion as of July 3, 2026 and June 27, 2025. Goodwill recognized as a result of the acquisition of Intevac, Inc. during fiscal year 2025 was not material. There were no other material additions to, disposals of, impairments of or translation adjustments to goodwill in fiscal years 2026 and 2025. Other Intangible Assets Other intangible assets recognized as a result of the acquisition of Intevac, Inc. during fiscal year 2025 was $19 million. Refer to Note 16. Acquisition and Divestiture for more information. Other intangible assets consist primarily of existing technology acquired in business combinations and are presented in Other assets, net in the Company’s Consolidated Balance Sheets. Intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets. Amortization is charged to Operating expenses in the Consolidated Statements of Operations and Comprehensive Income. The net carrying value of other intangible assets for fiscal years 2026 and 2025 was $11 million and $19 million, with $8 million amortization expense during fiscal year 2026, immaterial and no amortization expense for fiscal years 2025 and 2024, respectively. The weighted average remaining useful life is 2 years and 3 years as of July 3, 2026 and June 27, 2025, respectively.
|