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Acquisitions and divestitures (Tables) | 12 Months Ended
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Dec. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Acquisitions, by Acquisition | Details of the fair value amounts recognized for assets acquired and liabilities assumed as of the purchase date and at the end of fiscal year 2024, which includes measurement period adjustments, are included in the table below. As the acquisition occurred in May 2024, the Company is still finalizing the allocation of the purchase price to the individual assets acquired and liabilities assumed. The allocation of the purchase price included in the current period balance sheet is based on the best estimate of management and is preliminary and subject to change.
(Dollars in Billions) |  | May 31, 2024 |  | December 29, 2024
Assets acquired: |  |  |  |
Cash |  | $1.1 |  | $1.1
Goodwill |  | 7.5 |  | 7.6
Amortizable intangibles |  | 5.3 |  | 5.3
IPR&D |  | 0.6 |  | 0.6
Inventory |  | 0.5 |  | 0.5
Other assets |  | 0.5 |  | 0.4
Total assets acquired |  | $15.5 |  | $15.5
Liabilities assumed: |  |  |  |
Deferred taxes |  | $1.5 |  | $1.5
Notes payable* |  | 1.0 |  | 1.0
Accrued liabilities** |  | 0.4 |  | 0.4
Total liabilities assumed |  | $2.9 |  | $2.9
Net assets acquired |  | $12.6 |  | $12.6
Net assets acquired as of May 31, 2024 |  | $12.6 |  |
Less: Cash acquired |  | 1.1 |  |
Equity awards settled |  | 0.6 |  |
Settlement of Note payable* |  | 1.0 |  |
Total enterprise value as of June 30, 2024 |  | $13.1 |  |
* Represents the convertible debt which was subsequently paid in the fiscal second quarter of 2024. ** Includes $0.2 billion of equity awards

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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