Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Goodwill and Other

v3.22.2.2
Intangible Assets, Goodwill and Other
 3 Months Ended
Sep. 24, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure Acquisition-related Intangible Assets and Goodwill
Acquisition-related Intangible Assets
Acquisition-related intangibles as of September 24, 2022 were as follows:
Weighted-average Remaining Useful Life September 24, 2022
Gross Carrying Amount Accumulated Amortization Net Carrying Amount
(In millions)
Developed technology 15 years $ 12,360  $ (512) $ 11,848 
Customer relationships 14 years 12,324  (1,411) 10,913 
Customer backlog 5 months 809  (494) 315 
Corporate trade name 5 months 65  (40) 25 
Product trademarks 11 years 914  (47) 867 
Identified intangible assets subject to amortization 26,472  (2,504) 23,968 
IPR&D not subject to amortization N/A 1,194  —  1,194 
Total acquisition-related intangible assets $ 27,666  $ (2,504) $ 25,162 
Acquisition-related intangible asset balance as of September 25, 2021 was not material.
Acquisition-related intangible amortization expense was $1.0 billion and $2.5 billion for the three and nine months ended September 24, 2022, respectively.
Based on the carrying value of acquisition-related intangibles recorded as of September 24, 2022, 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)
Remainder of 2022 $ 1,044 
2023 2,804 
2024 2,286 
2025 2,061 
2026 1,951 
2027 and thereafter 13,822 
Total $ 23,968 
Goodwill
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. The Company performed a goodwill impairment test immediately prior to and after the segment change and determined that no indicators of impairment to goodwill existed.
The carrying amount of goodwill as of September 24, 2022 and December 25, 2021 was $24.2 billion and $289 million, respectively, and was assigned to reporting units within the following reportable segments:
December 26, 2021 Acquisitions and related adjustments Reassignment due to segment change September 24, 2022
(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 —  1,104  1,782  2,886 
Gaming —  —  238  238 
Embedded —  —  21,063  21,063 
Total $ 289  $ 23,898  $ —  $ 24,187