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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets (a) Goodwill The carrying amounts of goodwill as of September 29, 2024 and December 31, 2023 by reportable segment are as follows (in millions):
| As of September 29, 2024
| KGS |  | US |  | Total
Gross value | $ | 683.6 |  |  | $ | 138.6 |  |  | $ | 822.2 |
Less accumulated impairment | 239.5 |  |  | 13.8 |  |  | 253.3 |
Net | $ | 444.1 |  |  | $ | 124.8 |  |  | $ | 568.9 |
| As of December 31, 2023
| KGS |  | US |  | Total
Gross value | $ | 683.6 |  |  | $ | 138.8 |  |  | 822.4 |
Less accumulated impairment | 239.5 |  |  | 13.8 |  |  | 253.3 |
Net | $ | 444.1 |  |  | $ | 125.0 |  |  | $ | 569.1 |
(b) Purchased Intangible Assets The following table sets forth information for finite-lived and indefinite-lived intangible assets (in millions):
| As of September 29, 2024 |  | As of December 31, 2023
| Gross Value |  | Accumulated Amortization |  | Net Value |  | Gross Value |  | Accumulated Amortization |  | Net Value
Acquired finite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 80.9 |  |  | $ | (64.7) |  |  | $ | 16.2 |  |  | $ | 80.9 |  |  | $ | (62.8) |  |  | $ | 18.1 |
Contracts and backlog | 53.1 |  |  | (42.1) |  |  | 11.0 |  |  | 53.1 |  |  | (38.8) |  |  | 14.3 |
Developed technology and technical know-how | 33.7 |  |  | (29.1) |  |  | 4.6 |  |  | 33.7 |  |  | (28.2) |  |  | 5.5 |
Trade names | 3.8 |  |  | (3.0) |  |  | 0.8 |  |  | 3.8 |  |  | (2.7) |  |  | 1.1 |
In-process research and development | 16.8 |  |  | (0.4) |  |  | 16.4 |  |  | 16.8 |  |  | (0.3) |  |  | 16.5 |
Total finite-lived intangible assets | 188.3 |  |  | (139.3) |  |  | 49.0 |  |  | 188.3 |  |  | (132.8) |  |  | 55.5 |
Indefinite-lived trade names | 6.9 |  |  | — |  |  | 6.9 |  |  | 6.9 |  |  | — |  |  | 6.9 |
Total intangible assets | $ | 195.2 |  |  | $ | (139.3) |  |  | $ | 55.9 |  |  | $ | 195.2 |  |  | $ | (132.8) |  |  | $ | 62.4 |
Consolidated amortization expense related to intangible assets subject to amortization was $2.2 million and $1.5 million for the three months ended September 29, 2024 and October 1, 2023, respectively, and $6.5 million and $4.5 million for the nine months ended September 29, 2024 and October 1, 2023, respectively. The estimated future amortization expense of acquired intangible assets with finite lives for the remainder of 2024 and the next five fiscal years, and thereafter as of September 29, 2024 is as follows (in millions):
| Amount
2024 | $ | 2.1 |
2025 | 8.9 |
2026 | 9.1 |
2027 | 7.3 |
2028 | 4.5 |
2029 | 4.5 |
Thereafter | $ | 12.6 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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