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Property and Equipment (Tables)
6 Months Ended
Jul. 02, 2022
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over estimated useful lives as follows:
Useful Lives
Buildings and building improvements
7 to 39 years
Computer equipment and software
1 to 12 years
Demonstration units
2 to 3 years
Furniture and office equipment
2 to 15 years
Leasehold improvementsLesser of useful life or term of lease
Machinery, equipment and tooling
3 to 20 years
Operating lease assetsLesser of useful life or term of lease
Transportation, vehicles and other
1 to 20 years
Property and equipment, net, consists of the following:
(in millions)July 2,
2022
January 1,
2022
Building and building improvements$148.7 $142.1 
Machinery, equipment and tooling139.5 103.5 
Land64.5 57.0 
Computer equipment and software40.2 32.5 
Transportation, vehicles and other33.1 33.1 
Leasehold improvements31.1 21.9 
Furniture and office equipment16.5 14.2 
Operating lease assets(1)
14.1 — 
Demonstration units7.8 0.9 
Construction-in-progress (CIP)48.6 25.1 
     Total property and equipment544.1 430.3 
Accumulated depreciation(173.4)(157.5)
     Property and equipment, net$370.7 $272.8 
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(1)    Effective January 2, 2022, the Company adopted ASU 2021-05, resulting in the Company recording these operating lease assets within property, plant, and equipment.