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Acquisitions (Tables) | 12 Months Ended
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Dec. 29, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the consideration transferred to acquire Transporeon and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed, as well as the estimated useful lives of the identifiable intangible assets as of the date of the acquisition. The allocation of the purchase price is still preliminary as we finalize deferred income taxes. Preliminary estimates will be finalized within one year of the acquisition date.
| Fair Value as of the Acquisition Date | Estimated Useful Life
(In millions) |  |
Total purchase consideration | $ | 2,082.6 |  |
Net tangible assets acquired: |  |
Cash and cash equivalents | 12.9 |  |
Accounts receivable, net | 41.8 |  |
Other current assets | 28.0 |  |
Non-current assets | 24.7 |  |
Accounts payable | (4.1) |  |
Accrued compensation and benefits | (9.7) |  |
Deferred revenue | (16.5) |  |
Other current liabilities | (47.2) |  |
Non-current liabilities | (20.6) |  |
Total net tangible assets acquired | 9.3 |  |
Intangible assets acquired: |  |
Customer relationships | 759.5 |  | 11 years
Developed product technology | 168.4 |  | 7 years
Trade name | 11.9 |  | 5 years
Total intangible assets acquired | 939.8 |  |
Deferred tax liability | (256.6) |  |
Fair value of all assets/liabilities acquired | 692.5 |  |
Goodwill | $ | 1,390.1 |  |
Schedule of Pro-Forma Financial Information | The following table presents the amounts of revenue and net loss included in the Consolidated Statements of Income resulting from Transporeon since the acquisition date, which includes the effects of purchase accounting, primarily amortization of intangible assets and other adjustments.
| Year of
| 2023
(In millions) |
Total revenue | $ | 124.7 |
Net loss | (42.3) |
The unaudited pro forma financial information presented in the following table was computed by combining the historical financial information of Trimble and Transporeon along with the effects from business combination accounting and the associated debt resulting from this acquisition as if the companies were combined on January 1, 2022. This information is presented for informational purposes only, and it is not necessarily indicative of the operating results that would have occurred if the acquisition had been consummated as of that date. This information should not be used as a predictive measure of our future financial position, results of operations, or liquidity.
| Year of
| 2023 |  | 2022
(In millions) |  |  |
Total revenue | $ | 3,839.2 |  |  | $ | 3,831.2 |
Net income | 273.0 |  |  | 308.6 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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