Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets, Goodwill and Other

v3.24.2
Intangible Assets, Goodwill and Other
 6 Months Ended
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure Acquisition-related Intangibles, net
Acquisition-related intangibles, net were as follows:
June 29, 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 $ 13,390  $ (2,045) $ 11,345  $ 13,390  $ (1,583) $ 11,807 
Customer relationships 12,324  (4,479) 7,845  12,324  (3,755) 8,569 
Customer backlog 809  (809) —  809  (809) — 
Corporate trade name 65  (65) —  65  (65) — 
Product trademarks 914  (186) 728  914  (147) 767 
Identified intangible assets subject to amortization 27,502  (7,584) 19,918  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 $ 27,722  $ (7,584) $ 20,138  $ 27,722  $ (6,359) $ 21,363 
Developed technology and customer relationships were acquired primarily from the Xilinx acquisition on February 14, 2022. Acquisition-related intangible amortization expense was $603 million and $1.2 billion for the three and six months ended June 29, 2024, and $693 million and $1.5 billion for the three and six months ended July 1, 2023, respectively.
Based on the carrying value of acquisition-related intangibles recorded as of June 29, 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:
Fiscal Year (In millions)
Remainder of 2024
 $ 1,146 
2025 2,145 
2026 2,034 
2027 1,922 
2028 1,846 
2029 and thereafter
 10,825 
Total $ 19,918