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Business Combinations (Tables) | 12 Months Ended
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Dec. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The table below summarizes the final allocation of fair value of assets acquired and liabilities assumed.
(in millions) |  | Sound United
Cash consideration |  | $ | 1,057.5 |
| Purchase price |  | $ | 1,057.5 |
Assets acquired: |  |
| Cash and cash equivalents |  | $ | 82.6 |
| Accounts receivables |  | 108.5 |
| Inventories |  | 238.6 |
| Prepaid expenses and other current assets |  | 30.0 |
| Property, plant and equipment |  | 113.2 |
| Intangible assets |  | 649.0 |
| Goodwill(1) |  | 318.0 |
| Long-term other assets |  | 7.4 |
| Total assets acquired |  | $ | 1,547.3 |
Liabilities assumed: |  |
| Accounts payable |  | $ | (118.8) |
| Accrued liabilities and other current liabilities |  | (148.9) |
| Deferred tax liabilities(1) |  | (145.1) |
| Other long-term liabilities |  | (77.0) |
| Total liabilities assumed |  | $ | (489.8) |
______________ (1) Includes an immaterial correction of an error to the final purchase price allocation from the Sound United acquisition, which resulted in a reduction to both goodwill and deferred tax liabilities of $7.8 million. 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 Sound United Acquisition included in the reported pro forma revenue and pro forma net income.
|  | Twelve Months Ended |  |
|  | December 30, 2023 |  | December 31, 2022 |  | January 1, 2022 |  |  |  |
(in millions) |  | Actual |  | Pro forma |  | Pro forma |  |  |  |
Net revenue |  | $ | 2,048.1 |  |  | $ | 2,293.4 |  |  | $ | 2,187.4 |  |  |  |  |
Net income |  | $ | 81.5 |  |  | $ | 181.8 |  |  | $ | 126.2 |  |  |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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