Intangible Assets, net

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

9. Intangible Assets, net

Intangible assets, net, consist of the following:


	December 31, 2022						January 1, 2022
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Customer relationships	$	220.9	$	(19.3)	$	201.6	$	24.6	$	(9.3)	$	15.3
Acquired technologies	185.3		(25.2)		160.1		28.4		(8.7)		19.7
Trademarks	39.3		(5.8)		33.5		12.2		(4.1)		8.1
Licenses	39.0		(4.4)		34.6		8.1		(2.0)		6.1
Patents	35.2		(13.9)		21.3		31.5		(12.2)		19.3
Licenses-related party	7.5		(6.3)		1.2		7.5		(6.0)		1.5
Non-compete agreements(1)	6.3		(1.1)		5.2		0.3		—		0.3
Capitalized software development costs	5.5		(2.9)		2.6		4.3		(2.6)		1.7
Other	1.6		(1.1)		0.5		1.6		(1.1)		0.5
Total intangible assets subject to amortization, net	$	540.6	$	(80.0)	$	460.6	$	118.5	$	(46.0)	$	72.5
Intangible assets not subject to amortization:
Trademarks					262.0						—
Intangible assets, net					$	722.6					$	72.5

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(1) In connection with the Sound United Acquisition, the Company also acquired non-compete agreements with a gross carrying amount equal to $6.0 million.

A significant portion of the increase in intangible assets was attributable to the Sound United Acquisition. Please refer to Note 18, “Business Combinations”, for further details.

Finite lived intangible assets have a weighted-average amortization period of twelve years to fourteen years. For the years ended December 31, 2022, January 1, 2022 and January 2, 2021, total amortization expense of intangible assets was $39.8 million, $10.3 million and $7.5 million, respectively.

As of December 31, 2022 and January 1, 2022, the total costs of patents not yet amortizing was $10.6 million and $9.0 million, respectively. As of December 31, 2022 and January 1, 2022, the total costs of trademarks not yet amortizing was $1.1 million and $1.0 million, respectively.

For the years ended December 31, 2022 and January 1, 2022, total renewal costs capitalized for patents and trademarks was $1.2 million and $1.5 million, respectively. As of December 31, 2022, the weighted-average number of years until the next renewal was one year for patents and six years for trademarks.

Estimated amortization expense for each of the next fiscal years is as follows:


Fiscal Year	Amount (in millions)
2023	$	44.9
2024	47.7
2025	47.2
2026	46.3
2027	45.7
Thereafter	228.8
Total	$	460.6