Annual report pursuant to Section 13 and 15(d)

Goodwill

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Goodwill
 12 Months Ended
Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Acquisition-related Intangible Assets and Goodwill
Acquisition-related Intangible Assets
Acquisition-related intangibles as of December 30, 2023 and December 31, 2022 were as follows:
December 30, 2023 December 31, 2022
Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount
(In millions) (In millions)
Developed technology $ 13,390  $ (1,583) $ 11,807  $ 12,360  $ (738) $ 11,622 
Customer relationships 12,324  (3,755) 8,569  12,324  (1,973) 10,351 
Customer backlog 809  (809) —  809  (712) 97 
Corporate trade name 65  (65) —  65  (57) 8 
Product trademarks 914  (147) 767  914  (68) 846 
Identified intangible assets subject to amortization 27,502  (6,359) 21,143  26,472  (3,548) 22,924 
IPR&D not subject to amortization 220  —  220  1,194  —  1,194 
Total acquisition-related intangible assets $ 27,722  $ (6,359) $ 21,363  $ 27,666  $ (3,548) $ 24,118 
Acquisition-related intangible amortization expense was $2.8 billion and $3.5 billion in fiscal year 2023 and 2022, respectively. In the fourth quarter of 2023, $970 million of IPR&D intangible assets acquired from Xilinx reached technological feasibility and were reclassified as developed technology, and began amortization over their estimated useful lives.
Based on the carrying value of acquisition-related intangibles recorded as of December 30, 2023, and assuming no subsequent impairment of the underlying assets, the estimated annual amortization expense for acquisition-related intangibles is expected to be as follows:
Fiscal Year (In millions)
2024 $ 2,371 
2025 2,145 
2026 2,034 
2027 1,922 
2028 1,846 
2029 and thereafter 10,825 
Total $ 21,143 
Goodwill
The carrying amount of goodwill as of December 30, 2023 and December 31, 2022 was $24.3 billion and $24.2 billion, respectively, and was assigned to reporting units within the following reportable segments:
December 25, 2021 Acquisitions
Adjustments and Reassignment due to segment change*
December 31, 2022 Acquisitions
December 30,
2023
(In millions) (In millions)
Reportable segments before segment change:
Enterprise, Embedded and Semi-Custom $ 289  $ —  $ (289) $ —  $ —  $ — 
Xilinx —  22,794  (22,794) —  —  — 
Reportable segments after segment change:
Data Center —  1,094  1,790  2,884  58  2,942 
Client —  —  —  —  18  18 
Gaming —  —  238  238  —  238 
Embedded —  —  21,055  21,055  9  21,064 
Total $ 289  $ 23,888  $ —  $ 24,177  $ 85  $ 24,262 
*In the second quarter of fiscal year 2022, the Company reassigned goodwill balances among the updated reportable segments to reflect changes in its segment reporting structure.
During the fourth quarter of fiscal years 2023 and 2022, the Company conducted its annual qualitative impairment tests of goodwill and concluded that there was no goodwill impairment with respect to its reporting units.