Intangible Assets and Goodwill
 6 Months Ended
Jun. 26, 2011
Intangible Assets and Goodwill  
Intangible Assets and Goodwill

8. Intangible Assets and Goodwill

Intangible assets at June 26, 2011 and December 26, 2010 are as follows:

 

     Successor  
     June 26, 2011     December 26, 2010  
     (in thousands)  

Developed technology

    $ 81,474      $ 65,900   

Customer relationships

      93,613        93,348   

Trade name

      8,200        8,200   
  

 

 

    

 

 

  

Total amortizable intangible assets

    $ 183,287      $ 167,448   

Less: Accumulated Depreciation

      (23,618 )      (12,715 ) 
  

 

 

    

 

 

  

Intangible assets, net

    $ 159,669      $ 154,733   

IPR&D

      27,426        43,000   

Goodwill

      161,974        153,338   
  

 

 

    

 

 

  

Intangible assets and goodwill, net

    $ 349,069      $ 351,071   
  

 

 

    

 

 

  

 

During the first quarter of fiscal 2011, the Company identified and recorded to Goodwill certain out of period errors relating to the provision for income taxes for foreign operations in the Predecessor period prior to May 10, 2010 resulting in a increase to Goodwill. See Note 1 for more information. There were no such adjustments for the three months ended June 26, 2011.

In-Process Research and Development (IPR&D)

As of June 26, 2011, approximately $15.6 million of the total capitalized IPR&D of $43 million relating to GL NOR Flash memory projects had reached technological feasibility and was transferred to developed technology and amortization of approximately $0.6 million was recorded during the three months ended June 26, 2011 for these projects. The Company expects the remaining projects (relating to the development of process technologies to manufacture flash memory products associated with GL and FL product families) to attain technological feasibility and commence commercial production during fiscal 2011 and the first half of fiscal 2012.