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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for 2023 and 2022 are as follows:
(Amounts in millions) |  | Commercial & Industrial Group |  | Snap-on Tools Group |  | Repair Systems & Information Group |  | Total
Balance as of 2021 year end |  | $ | 325.8 |  |  | $ | 12.4 |  |  | $ | 778.3 |  |  | $ | 1,116.5 |
Currency translation |  | (22.4) |  |  | — |  |  | (15.7) |  |  | (38.1) |
Acquisition adjustments |  | (0.5) |  |  | — |  |  | (32.6) |  |  | (33.1) |
Balance as of 2022 year end |  | $ | 302.9 |  |  | $ | 12.4 |  |  | $ | 730.0 |  |  | $ | 1,045.3 |
Currency translation |  | 10.7 |  |  | — |  |  | 6.7 |  |  | 17.4 |
Acquisition adjustments |  | 33.0 |  |  | — |  |  | 1.7 |  |  | 34.7 |
Balance as of 2023 year end |  | $ | 346.6 |  |  | $ | 12.4 |  |  | $ | 738.4 |  |  | $ | 1,097.4 |
Goodwill of $1,097.4 million as of 2023 year end included $33.0 million, on a preliminary basis, from the acquisition of Mountz and $1.7 million from the acquisition of SAVTEQ. The goodwill from Mountz and SAVTEQ is included in the Commercial & Industrial Group and Repair Systems & Information Group, respectively. The purchase accounting valuations for the acquired net assets of AutoCrib Germany, Dealer-FX and Pradines were completed in 2022. The purchase accounting valuations for the acquired net assets of Dealer-FX resulted in a reduction of goodwill of $32.6 million from 2021 year end. The purchase accounting valuations for the acquired net assets of Pradines resulted in a reduction of goodwill of $0.5 million from 2021 year end. The goodwill from Dealer-FX is included in the Repair Systems & Information Group and the goodwill from AutoCrib Germany and Pradines is included in the Commercial & Industrial Group. See Note 3 for additional information on acquisitions. Additional disclosures related to other intangible assets as of 2023 and 2022 year end are as follows:
|  | 2023 |  | 2022
(Amounts in millions) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Amortized other intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 214.5 |  |  | $ | (163.6) |  |  | $ | 50.9 |  |  | $ | 212.1 |  |  | $ | (150.8) |  |  | $ | 61.3 |
Developed technology |  | 36.2 |  |  | (29.8) |  |  | 6.4 |  |  | 35.8 |  |  | (26.0) |  |  | 9.8 |
Internally developed software |  | 191.3 |  |  | (148.2) |  |  | 43.1 |  |  | 179.6 |  |  | (137.2) |  |  | 42.4 |
Patents |  | 53.0 |  |  | (26.8) |  |  | 26.2 |  |  | 48.4 |  |  | (25.6) |  |  | 22.8 |
Trademarks |  | 4.0 |  |  | (2.5) |  |  | 1.5 |  |  | 3.9 |  |  | (2.4) |  |  | 1.5 |
Other |  | 6.2 |  |  | (2.8) |  |  | 3.4 |  |  | 7.7 |  |  | (4.0) |  |  | 3.7 |
Total |  | 505.2 |  |  | (373.7) |  |  | 131.5 |  |  | 487.5 |  |  | (346.0) |  |  | 141.5 |
Non-amortized trademarks |  | 137.4 |  |  | — |  |  | 137.4 |  |  | 134.1 |  |  | — |  |  | 134.1 |
Total other intangible assets |  | $ | 642.6 |  |  | $ | (373.7) |  |  | $ | 268.9 |  |  | $ | 621.6 |  |  | $ | (346.0) |  |  | $ | 275.6 |
The gross carrying value of patents as of year end 2023 includes $1.1 million related to the SAVTEQ acquisition. Provision for impairment of goodwill and/or other intangible assets could arise in a future period due to significant and unanticipated changes in circumstances, such as declines in profitability and cash flow due to long-term deterioration in macroeconomic, industry and market conditions, the loss of key customers, changes in technology or markets, changes in key personnel or litigation, a sustained decrease in share price and/or other events. As of 2023 year end, the company had no accumulated impairment losses. The weighted-average amortization periods related to other intangible assets are as follows:
|  | In Years
Customer relationships |  | 14
Developed technology |  | 5
Internally developed software |  | 6
Patents |  | 15
Trademarks |  | 9
Other |  | 39
The weighted-average amortization period for all amortizable intangible assets on a combined basis is 12 years. Intangible asset renewal costs are expensed as incurred. The aggregate amortization expense was $27.1 million in 2023, $28.7 million in 2022 and $29.2 million in 2021. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $22.6 million in 2024, $16.3 million in 2025, $12.3 million in 2026, $10.6 million in 2027, and $9.3 million in 2028.

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