The following table summarizes the components of intangible asset balances as of September 26, 2026 and September 27, 2025 (in millions):


	2026						2025
	Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets		Gross Intangible Assets		Accumulated Amortization		Net Intangible Assets
Amortizable intangible assets:
Licensed intangible assets	$	29,582	$	(8,639)	$	20,943	$	16,061	$	(6,882)	$	9,179
Owned intangible assets	8,363		(5,145)		3,218		7,514		(4,767)		2,747
Total	37,945		(13,784)		24,161		23,575		(11,649)		11,926

Non-amortizable owned intangible assets	1,539		—		1,539		1,375		—		1,375
Total intangible assets	39,484		(13,784)		25,700		24,950		(11,649)		13,301
Less: Current portion of licensed intangible assets					(5,422)						(2,208)
Non-current portion of intangible assets					$	20,278					$	11,093

Amortization expense related to intangible assets was $4.9 billion, $3.7 billion and $3.6 billion in 2026, 2025 and 2024, respectively. The expected annual amortization expense related to intangible assets as of September 26, 2026, is as follows (in millions):