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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of 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 |
Schedule of Intangible Assets (Finite-Lived) | 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 |
Schedule of Intangible Assets (Indefinite-Lived) | 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 |
Schedule of Future Amortization Expense of Acquired Intangibles | 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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