XML 84 R16.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Property and Equipment, net | 12 Months Ended
--- | ---
Dec. 30, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment, net | 8. Property and Equipment, net Property and equipment, net, consists of the following:
(in millions) | December 30, 2023 |  | December 31, 2022
Building and building improvements | $ | 151.0 |  |  | $ | 151.0 |
Machinery, equipment and tooling | 169.7 |  |  | 149.4 |
Operating lease assets | 92.2 |  |  | 50.2 |
Land | 66.2 |  |  | 65.1 |
Computer equipment and software | 45.5 |  |  | 42.1 |
Leasehold improvements | 37.5 |  |  | 32.3 |
Transportation, vehicles and other | 34.0 |  |  | 32.7 |
Furniture and office equipment | 20.4 |  |  | 19.4 |
Demonstration units | 11.1 |  |  | 11.2 |
Construction-in-progress (CIP) | 59.2 |  |  | 50.6 |
Total property and equipment | 686.8 |  |  | 604.0 |
Accumulated depreciation | (262.4) |  |  | (201.5) |
Property and equipment, net | $ | 424.4 |  |  | $ | 402.5 |
For the years ended December 30, 2023, December 31, 2022 and January 1, 2022, depreciation expense of property and equipment was $43.9 million, $43.0 million and $25.3 million, respectively. For the years ended December 30, 2023, December 31, 2022 and January 1, 2022, depreciation expense of operating lease assets was $19.3 million, $4.4 million and $0.5 million, respectively. For the years ended December 30, 2023 and December 31, 2022, $19.3 million and $4.3 million of equipment leased to customers was amortized to cost of goods sold, respectively. As of December 30, 2023 and December 31, 2022, accumulated amortization of equipment leased to customers was $1.5 million and $2.1 million, respectively. The balance in CIP at December 30, 2023 and December 31, 2022, related primarily to the capitalized implementation costs related to a new enterprise resource planning software system, costs related to facility improvements, the expansion of certain key manufacturing facilities globally, machinery and equipment at the Company’s corporate headquarters, as well as on-going development costs associated with a new research and development facility, the underlying assets for which have not been completed or placed into service. On February 14, 2022, the Company’s wholly owned subsidiary, Masimo Canada ULC, entered into a Purchase and Sale Agreement (Purchase Agreement) with Keltic (Prior) Development Limited Partnership (Vendor) for the purchase of a property in Vancouver, British Columbia, Canada for a purchase price of CAD123.0 million, plus GST (Purchase Price), subject to certain adjustments. The Company paid CAD21.0 million as a deposit towards the purchase during the year ended December 31, 2022. The balance of the Purchase Price will be due and payable upon the closing of the transaction, which is currently expected to occur in mid-2025.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration