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Business Combinations | 12 Months Ended
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Dec. 29, 2017
Business Combinations [Abstract] |
Business Combinations | BUSINESS COMBINATIONS During fiscal 2017, 2016 and 2015 the Company acquired multiple businesses, all with cash consideration. The Consolidated Statements of Income include the operating results of the businesses from the dates of acquisition. During fiscal 2017, the Company acquired ten businesses, with total purchase consideration of $331.2 million. The purchase prices ranged from less than $2.0 million to $134.0 million. The largest acquisition was Müller-Elektronik, a privately held German company specializing in implement control and precision farming solutions. In the aggregate, the businesses acquired during fiscal 2017 contributed approximately two percent to the Company's total revenue during fiscal 2017. During fiscal 2016, the Company acquired four businesses, with total purchase consideration of $27.6 million. The purchase prices ranged from less than $0.3 million to $14.0 million. The acquisitions were not significant individually or in the aggregate. The largest acquisition was of a company that manages content and software solutions that enable Mechanical, Electrical and Plumbing (MEP) contractors and engineers to produce intelligent and constructible models, based in Rocklin, California. In the aggregate, the businesses acquired during fiscal 2016 contributed less than one percent to the Company's total revenue during fiscal 2016. During fiscal 2015, the Company acquired thirteen businesses, with total purchase consideration of $176.2 million. The acquisitions were not significant individually or in the aggregate. The purchase prices ranged from less than $2.0 million to $30.0 million. The largest acquisition was a Norwegian company specializing in BIM software for infrastructure design software solutions across the European region. In the aggregate, the businesses acquired during fiscal 2015 collectively contributed less than one percent to the Company's total revenue during fiscal 2015. The Company determined the total consideration paid for each of its acquisitions as well as the fair value of the assets acquired and liabilities assumed as of the date of each acquisition. For certain acquisitions completed in fiscal 2017, the fair value of the assets acquired and liabilities assumed are preliminary and may be adjusted as the Company obtains additional information, primarily related to adjustments for the true up of acquired net working capital in accordance with certain purchase agreements, and estimated values of certain net tangible assets and liabilities including tax balances, pending the completion of final studies and analyses. If there are adjustments made for these items the fair value of intangible assets and goodwill could be impacted. Thus the provisional measurements of fair value set forth below are subject to change. Such changes could be significant. The Company expects to finalize the valuation of the net tangible and intangible assets as soon as practicable, but not later than one-year from the acquisition date. The fair value of identifiable assets acquired and liabilities assumed were determined under the acquisition method of accounting for business combinations. The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The fair value of intangible assets acquired is generally determined based on a discounted cash flow analysis. Acquisition costs of $7.4 million, $6.8 million and $9.9 million in fiscal 2017, 2016 and 2015, respectively, were expensed as incurred, along with the changes in fair value of the contingent consideration liabilities, and are included in General and administrative expenses in the Consolidated Statements of Income. The following table summarizes the Company’s business combinations completed during fiscal 2017, 2016 and 2015:
Fiscal Years | 2017 |  | 2016 |  | 2015
(In millions) |  |  |  |  |
Fair value of total purchase consideration | $ | 331.2 |  |  | $ | 27.6 |  |  | $ | 176.2 |
Less fair value of net assets acquired: |  |  |  |  |
Net tangible assets acquired | 29.7 |  |  | (1.9 | ) |  | 8.0 |
Identified intangible assets | 166.7 |  |  | 13.6 |  |  | 83.3 |
Deferred taxes | (5.8 | ) |  | (1.3 | ) |  | (13.6 | )
Goodwill | $ | 140.6 |  |  | $ | 17.2 |  |  | $ | 98.5 |
Intangible Assets The following table presents details of the Company’s total intangible assets:
|  | At the End of Fiscal 2017 |  | At the End of Fiscal 2016
(In millions) | Weighted-Average Remaining Useful Lives (in years) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Developed product technology | 6 | $ | 915.3 |  |  | $ | (729.9 | ) |  | $ | 185.4 |  |  | $ | 794.8 |  |  | $ | (620.6 | ) |  | $ | 174.2 |
Trade names and trademarks | 5 | 58.7 |  |  | (48.6 | ) |  | 10.1 |  |  | 50.9 |  |  | (42.9 | ) |  | 8.0 |
Customer relationships | 7 | 512.1 |  |  | (351.3 | ) |  | 160.8 |  |  | 438.7 |  |  | (294.1 | ) |  | 144.6 |
Distribution rights and other intellectual properties | 6 | 69.2 |  |  | (60.7 | ) |  | 8.5 |  |  | 64.3 |  |  | (57.8 | ) |  | 6.5 |
|  | $ | 1,555.3 |  |  | $ | (1,190.5 | ) |  | $ | 364.8 |  |  | $ | 1,348.7 |  |  | $ | (1,015.4 | ) |  | $ | 333.3 |
The estimated future amortization expense of intangible assets at the end of fiscal 2017 is as follows (in millions):
2018 | $ | 133.1 |
2019 | 91.6 |
2020 | 62.6 |
2021 | 40.7 |
2022 | 21.7 |
Thereafter | 15.1 |
Total | $ | 364.8 |
Goodwill In March 2017, the information used to allocate resources and assess performance that is provided to the Company's chief operating decision maker, its Chief Executive Officer, changed to better reflect the Company's customer base and end markets. As further described in Note 6, the new reporting structure consists of four operating segments, each representing a single reporting unit: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. Goodwill was reassigned to the new reporting units using the relative fair values and, as a result of this reassignment, an impairment assessment was performed immediately before and after the reorganization of the Company’s reporting structure. There was no goodwill impairment resulting from this assessment in the first quarter of fiscal 2017. The changes in the carrying amount of goodwill by segment for fiscal 2017 are as follows:
(In millions) | Buildings and Infrastructure |  | Geospatial |  | Resources and Utilities |  | Transportation |  | Total
At the end of fiscal 2016 | $ | 663.7 |  |  | $ | 405.1 |  |  | $ | 217.7 |  |  | $ | 791.1 |  |  | $ | 2,077.6 |
Additions due to acquisitions and current year acquisitions' purchase price adjustments | 2.5 |  |  | — |  |  | 86.3 |  |  | 51.8 |  |  | 140.6 |
Purchase price adjustments - prior years' acquisitions | (0.1 | ) |  | — |  |  | — |  |  | — |  |  | (0.1 | )
Foreign currency translation adjustments | 40.7 |  |  | 17.1 |  |  | 10.5 |  |  | 7.6 |  |  | 75.9 |
Divestitures (1) | — |  |  | (6.9 | ) |  | — |  |  | — |  |  | (6.9 | )
At the end of fiscal 2017 | $ | 706.8 |  |  | $ | 415.3 |  |  | $ | 314.5 |  |  | $ | 850.5 |  |  | $ | 2,287.1 |
(1) In the first quarter of 2017, the Company sold its ThingMagic business, which was part of the Geospatial segment.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -URI http://asc.fasb.org/topic&trid=2303972 + Details
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