Business Combinations (Tables)

12 Months Ended

Dec. 31, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below summarizes the preliminary allocation of fair value of assets acquired and liabilities assumed, inclusive of measurement period adjustments, as of April 11, 2022:


(in millions)		Sound United
Cash consideration(1)		$	1,065.0
	Purchase price	$	1,065.0

Assets acquired:
	Cash and cash equivalents	$	82.6
	Accounts receivables	108.5
	Inventories	235.8

	Prepaid expenses and other current assets	31.1
	Property, plant and equipment	113.2
	Intangible assets	649.0
	Goodwill	333.1
	Long-term other assets	14.7
	Total assets acquired	$	1,568.0

Liabilities assumed:
	Accounts payable	$	(118.8)
	Accrued liabilities and other current liabilities	(165.9)
	Deferred tax liabilities	(143.1)
	Other long-term liabilities	(75.2)
	Total liabilities assumed	$	(503.0)

______________

(1) The purchase price for the Sound United Acquisition is preliminary, pending final customary purchase price adjustments.

The following table sets forth the components of identifiable intangible assets acquired and the weighted-average amortization period as of the acquisition date:


	Weighted-average amortization period (in years)	April 11, 2022 (in millions)
Trademarks/tradenames	10	$	6.0
Customer relationships	17	196.0
Developed technology	8	156.0
Contractual license agreements	15	29.0
Subtotal	14 years	$	387.0
Indefinite trademarks/tradenames	N/A	262.0
Total		$	649.0

Business Acquisition, Pro Forma Information

There are no other material non-recurring pro forma adjustments directly attributable to the acquisition included in the reported pro forma revenue and pro forma net income.


	Twelve Months Ended
(in millions)		December 31, 2022		January 1, 2022
Pro forma net revenue		$	2,293.4	$	2,187.4

Pro forma net income (loss)		$	181.8	$	126.2