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Business Combinations

3 Months Ended

Apr. 02, 2021

Business Combinations [Abstract]

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS

We did not acquire any businesses during the first quarter of fiscal 2021.

Intangible Assets

The following table presents a summary of our total intangible assets:

As of			First Quarter of Fiscal 2021																		Fiscal Year End 2020
			Gross																		Gross
			Carrying						Accumulated						Net Carrying						Carrying						Accumulated						Net Carrying
(In millions)			Amount						Amortization						Amount						Amount						Amortization						Amount
Developed product technology			$	1,093.8					$	(813.1)					$	280.7					$	1,118.2					$	(811.1)					$	307.1
Customer relationships			671.1						(419.1)						252.0						681.1						(419.3)						261.8
Trade names and trademarks			56.2						(51.2)						5.0						58.3						(51.9)						6.4
Distribution rights and other intellectual property			42.5						(37.2)						5.3						45.8						(41.0)						4.8
			$	1,863.6					$	(1,320.6)					$	543.0					$	1,903.4					$	(1,323.3)					$	580.1

The estimated future amortization expense of purchased intangible assets as of the end of the first quarter of fiscal 2021 was as follows:

(In millions)
2021 (Remaining)			$	104.1
2022			118.1
2023			105.6
2024			80.0
2025			45.8
Thereafter			89.4
Total			$	543.0

Goodwill

The changes in the carrying amount of goodwill by segment for the first quarter of fiscal 2021 were as follows: 

			Buildings and Infrastructure						Geospatial						Resources and Utilities						Transportation						Total
(In millions)
Balance as of fiscal year end 2020			$	1,997.4					$	415.7					$	453.8					$	1,009.6					$	3,876.5
Foreign currency translation and other adjustments			(5.0)						(6.9)						(4.6)						(12.0)						(28.5)
Balance as of the end of the first quarter of fiscal 2021			$	1,992.4					$	408.8					$	449.2					$	997.6					$	3,848.0

X

- 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-URI http://asc.fasb.org/topic&trid=2303972

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X

- References

No definition available.

+ Details

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