XML 19 R9.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Goodwill and Other Intangibles Resulting from Business Acquisitions | 9 Months Ended
--- | ---
Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles Resulting from Business Acquisitions | Goodwill and Other Intangibles Resulting from Business Acquisitions The goodwill from the 2022 Acquisitions was not material to the unaudited Condensed Consolidated Financial Statements. Refer to Note 2, "Acquisitions," to the unaudited Condensed Consolidated Financial Statements for more information. Changes in the net carrying amount of goodwill for the nine months ended October 1, 2022 by reportable segment are shown below.
(In millions) | Label and Graphic Materials |  | Retail Branding and Information Solutions |  | Industrial and Healthcare Materials |  | Total
Goodwill as of January 1, 2022 | $ | 456.4 |  |  | $ | 1,236.0 |  |  | $ | 189.1 |  |  | $ | 1,881.5 |
Acquisitions(1) | — |  |  | 16.3 |  |  | — |  |  | 16.3 |
Acquisition adjustment(2) | — |  |  | (2.3) |  |  | — |  |  | (2.3) |
Translation adjustments | (37.0) |  |  | (19.3) |  |  | (14.4) |  |  | (70.7) |
Goodwill as of October 1, 2022 | $ | 419.4 |  |  | $ | 1,230.7 |  |  | $ | 174.7 |  |  | $ | 1,824.8 |
(1)Goodwill acquired related to the 2022 Acquisitions. We expect the recognized goodwill related to the 2022 Acquisitions to be non-deductible for income tax purposes. (2)Measurement period adjustment related to the finalization of the purchase price allocation for the August 2021 acquisition of Vestcom. In connection with the 2022 Acquisitions, we acquired approximately $21 million of identifiable finite-lived intangible assets, which consisted of patented and other developed technology as well as customer relationships. Amortization expense for all finite-lived intangible assets resulting from business acquisitions was $20.4 million and $11.7 million for the three months ended October 1, 2022 and October 2, 2021, respectively, and $61.5 million and $24.6 million for the nine months ended October 1, 2022 and October 2, 2021, respectively. Estimated future amortization expense related to existing finite-lived intangible assets for the remainder of fiscal year 2022 and for each of the next four fiscal years is shown below. These amounts include the effects of the 2022 Acquisitions and updated amounts from year-end 2021.
| Estimated Amortization Expense
2022 (remainder of year) | $ | 20.3 |
2023 | 80.2 |
2024 | 78.6 |
2025 | 77.8 |
2026 | 75.0 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration