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Intangible Assets and Goodwill (Tables) | 6 Months Ended
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Jul. 04, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Intangible Assets | The following table presents a summary of our intangible assets:
| As of
| Second Quarter of 2025 |  | Year End 2024
| Gross |  |  |  |  |  | Gross |  |  |  |
| Carrying |  | Accumulated |  | Net Carrying |  | Carrying |  | Accumulated |  | Net Carrying
(In millions) | Amount |  | Amortization |  | Amount |  | Amount |  | Amortization |  | Amount
Developed product technology | $ | 827.8 |  |  | $ | (581.7) |  |  | $ | 246.1 |  |  | $ | 819.0 |  |  | $ | (561.2) |  |  | $ | 257.8 |
Customer relationships | 1,278.7 |  |  | (514.4) |  |  | 764.3 |  |  | 1,175.5 |  |  | (440.2) |  |  | 735.3 |
Trade names and other intellectual properties | 36.6 |  |  | (32.2) |  |  | 4.4 |  |  | 39.0 |  |  | (34.0) |  |  | 5.0 |
| $ | 2,143.1 |  |  | $ | (1,128.3) |  |  | $ | 1,014.8 |  |  | $ | 2,033.5 |  |  | $ | (1,035.4) |  |  | $ | 998.1 |
Schedule of Estimated Future Amortization Expense | The estimated future amortization expense of intangible assets at the end of the second quarter of 2025 was as follows:
(In millions) |
2025 (Remaining) | $ | 87.8 |
2026 | 171.5 |
2027 | 158.2 |
2028 | 144.0 |
2029 | 122.5 |
Thereafter | 330.8 |
Total | $ | 1,014.8 |
Schedule of Changes in Carrying Amount of Goodwill by Operating Segment | The changes in the carrying amount of goodwill by segment for the first two quarters of 2025 were as follows:
| AECO |  | Field Systems |  | T&L |  | Total
(In millions) |  |  |  |  |  |  |
Balance as of year end 2024 | $ | 1,986.1 |  |  | $ | 958.2 |  |  | $ | 2,044.1 |  |  | $ | 4,988.4 |
Decreases due to divestitures | — |  |  | — |  |  | (3.6) |  |  | (3.6) |
Foreign currency translation and other adjustments | 53.7 |  |  | 18.0 |  |  | 191.1 |  |  | 262.8 |
Balance as of the end of the second quarter of 2025 | $ | 2,039.8 |  |  | $ | 976.2 |  |  | $ | 2,231.6 |  |  | $ | 5,247.6 |

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