| Goodwill and Intangible Assets Disclosure |
Goodwill and Acquisition-related Intangibles, net Goodwill
The carrying amount of goodwill was assigned to reporting units within the following reportable segments:
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|
|
|
|
|
|
December 30, 2023 |
|
Acquisitions |
|
September 28, 2024 |
|
(In millions) |
| Data Center |
$ |
2,942 |
|
|
$ |
461 |
|
|
$ |
3,403 |
|
| Client |
18 |
|
|
108 |
|
|
126 |
|
| Gaming |
238 |
|
|
— |
|
|
238 |
|
| Embedded |
21,064 |
|
|
8 |
|
|
21,072 |
|
| Total |
$ |
24,262 |
|
|
$ |
577 |
|
|
$ |
24,839 |
|
Acquisition-related Intangibles, net
Acquisition-related intangibles, net were as follows:
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|
|
|
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|
|
|
|
|
|
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|
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|
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|
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|
|
|
September 28, 2024 |
|
December 30, 2023 |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
|
Gross Carrying Amount |
|
Accumulated Amortization |
|
Net Carrying Amount |
|
(In millions) |
|
(In millions) |
| Developed technology |
$ |
13,409 |
|
|
$ |
(2,279) |
|
|
$ |
11,130 |
|
|
$ |
13,390 |
|
|
$ |
(1,583) |
|
|
$ |
11,807 |
|
| Customer relationships |
12,324 |
|
|
(4,811) |
|
|
7,513 |
|
|
12,324 |
|
|
(3,755) |
|
|
8,569 |
|
| Customer backlog |
809 |
|
|
(809) |
|
|
— |
|
|
809 |
|
|
(809) |
|
|
— |
|
| Corporate trade name |
65 |
|
|
(65) |
|
|
— |
|
|
65 |
|
|
(65) |
|
|
— |
|
| Product trademarks |
914 |
|
|
(205) |
|
|
709 |
|
|
914 |
|
|
(147) |
|
|
767 |
|
Acquisition-related intangible assets subject to amortization |
27,521 |
|
|
(8,169) |
|
|
19,352 |
|
|
27,502 |
|
|
(6,359) |
|
|
21,143 |
|
In-process research and development (IPR&D) not subject to amortization |
220 |
|
|
— |
|
|
220 |
|
|
220 |
|
|
— |
|
|
220 |
|
Total acquisition-related intangible assets, net |
$ |
27,741 |
|
|
$ |
(8,169) |
|
|
$ |
19,572 |
|
|
$ |
27,722 |
|
|
$ |
(6,359) |
|
|
$ |
21,363 |
|
Acquisition-related intangible amortization expense was $585 million and $1.8 billion for the three and nine months ended September 28, 2024, and $660 million and $2.2 billion for the three and nine months ended September 30, 2023, respectively.
Based on the carrying value of acquisition-related intangibles recorded as of September 28, 2024, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for acquisition-related intangibles is expected to be as follows:
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|
|
|
|
|
| Fiscal Year |
(In millions) |
Remainder of 2024 |
$ |
565 |
|
| 2025 |
2,154 |
|
| 2026 |
2,040 |
|
| 2027 |
1,922 |
|
| 2028 |
1,846 |
|
2029 and thereafter |
10,825 |
|
| Total |
$ |
19,352 |
|
|