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GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Net Carrying Amount of Goodwill | Changes in the net carrying amount of goodwill for 2022 and 2021 by reportable segment are shown below:
(In millions) |  | Materials Group |  | Solutions Group |  |  |  |  |  | Total
Goodwill as of January 2, 2021 |  | $ | 664.6 |  |  | $ | 471.8 |  |  |  |  |  |  | $ | 1,136.4 |
Acquisitions(1) |  | 6.9 |  |  | 774.5 |  |  |  |  |  |  | 781.4 |
Acquisition adjustment(2) |  | 1.2 |  |  | — |  |  |  |  |  |  | 1.2 |
Translation adjustments |  | (27.2) |  |  | (10.3) |  |  |  |  |  |  | (37.5) |
Goodwill as of January 1, 2022 |  | 645.5 |  |  | 1,236.0 |  |  |  |  |  |  | 1,881.5 |
Acquisitions(3) |  | — |  |  | 16.3 |  |  |  |  |  |  | 16.3 |
Acquisition adjustment(4) |  | — |  |  | (.5) |  |  |  |  |  |  | (.5) |
Translation adjustments |  | (26.8) |  |  | (8.1) |  |  |  |  |  |  | (34.9) |
Goodwill as of December 31, 2022 |  | $ | 618.7 |  |  | $ | 1,243.7 |  |  |  |  |  |  | $ | 1,862.4 |
(1)Goodwill acquired related to the acquisitions of Vestcom, JDC and ZippyYum. We expect nearly all of the recognized goodwill related to the Vestcom and JDC acquisitions not to be deductible for income tax purposes and the recognized goodwill related to the ZippyYum acquisition to be deductible for income tax purposes. (2)Measurement period adjustment related to the finalization of the purchase price allocation for the December 2020 acquisition of ACPO, Ltd. (3)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. (4)Measurement period adjustment related to the finalization of the purchase price allocation for the August 2021 acquisition of Vestcom.
Summary of the Amounts and Useful Lives of Finite-Lived Intangible Assets | The table below summarizes the amounts and weighted average useful lives of these intangible assets as of the acquisition date.
|  | Amount (in millions) |  | Weighted average amortization period (in years)
Customer relationships |  | $ | 492.0 |  |  | 12
Patented and other developed technology |  | 100.4 |  |  | 7
Schedule of Finite-Lived Intangible Assets | The table below sets forth our finite-lived intangible assets resulting from business acquisitions at December 31, 2022 and January 1, 2022, which continue to be amortized.
|  | 2022 |  | 2021
(In millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships |  | $ | 852.2 |  |  | $ | 330.1 |  |  | $ | 522.1 |  |  | $ | 862.5 |  |  | $ | 277.2 |  |  | $ | 585.3 |
Patented and other developed technology |  | 261.9 |  |  | 104.3 |  |  | 157.6 |  |  | 247.7 |  |  | 84.7 |  |  | 163.0 |
Trade names and trademarks |  | 14.4 |  |  | 10.3 |  |  | 4.1 |  |  | 14.8 |  |  | 9.7 |  |  | 5.1 |
Other intangibles |  | 3.2 |  |  | 1.4 |  |  | 1.8 |  |  | 3.2 |  |  | .8 |  |  | 2.4 |
Total |  | $ | 1,131.7 |  |  | $ | 446.1 |  |  | $ | 685.6 |  |  | $ | 1,128.2 |  |  | $ | 372.4 |  |  | $ | 755.8 |
Estimated Amortization Expense for Finite Lived Intangible Assets | We expect estimated amortization expense for finite-lived intangible assets resulting from business acquisitions for each of the next five fiscal years and thereafter to be as follows:
(In millions) |  | Estimated Amortization Expense
2023 |  | $ | 80.9 |
2024 |  | 79.2 |
2025 |  | 78.4 |
2026 |  | 75.5 |
2027 |  | 75.2 |
2028 and thereafter |  | 296.4 |

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