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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | Goodwill activity for each of the Company’s reportable segments, MS and APS, was as follows at March 29, 2025 and December 31, 2024:
(In millions) | MS |  | APS |  | Total |  |
December 31, 2024 | $ | 3,631.3 |  |  | $ | 312.3 |  |  | $ | 3,943.6 |  |  |
Foreign currency translation | — |  |  | 0.3 |  |  | 0.3 |  |  |
March 29, 2025 | $ | 3,631.3 |  |  | $ | 312.6 |  |  | $ | 3,943.9 |  |  |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | Identifiable intangible assets at March 29, 2025 and December 31, 2024 consisted of the following:
| March 29, 2025
(In millions) | Gross carrying amount |  | Accumulated amortization |  | Net carrying value
Developed technology | $ | 1,256.8 |  |  | $ | 638.1 |  |  | $ | 618.7 |
Trademarks and trade names | 172.0 |  |  | 51.5 |  |  | 120.5 |
Customer relationships | 630.5 |  |  | 333.4 |  |  | 297.1 |
In-process research and development (1) | 6.6 |  |  | — |  |  | 6.6 |
Other | 25.5 |  |  | 23.1 |  |  | 2.4 |
| $ | 2,091.4 |  |  | $ | 1,046.1 |  |  | $ | 1,045.3 |
| December 31, 2024
(In millions) | Gross carrying amount |  | Accumulated amortization |  | Net carrying value
Developed technology | $ | 1,256.7 |  |  | $ | 601.7 |  |  | $ | 655.0 |
Trademarks and trade names | 172.0 |  |  | 48.8 |  |  | 123.2 |
Customer relationships | 630.5 |  |  | 326.5 |  |  | 304.0 |
In-process research and development (1) | 6.6 |  |  | — |  |  | 6.6 |
Other | 25.5 |  |  | 22.6 |  |  | 2.9 |
| $ | 2,091.3 |  |  | $ | 999.6 |  |  | $ | 1,091.7 |
(1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we move the asset to developed technology, determine the useful life and begin amortizing the assets.
Estimated Future Amortization Expense | Future amortization expense relating to intangible assets currently recorded in the Company’s condensed consolidated balance sheets is estimated to be the following at March 29, 2025:
(In millions) | Remaining 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | Thereafter |  | Total
Future amortization expense | $ | 139.2 |  |  | $ | 182.5 |  |  | $ | 178.9 |  |  | $ | 176.4 |  |  | $ | 110.7 |  |  | $ | 257.6 |  |  | $ | 1,045.3 |

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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-1 + Details
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