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Intangible Assets, net (Tables)

12 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

Intangible assets, net, consist of the following:

			December 30, 2023																		As Adjusted, December 31, 2022(1)
(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			$	209.2					$	(31.5)					$	177.7					$	220.9					$	(19.3)					$	201.6
Acquired technologies			174.7						(45.3)						129.4						185.3						(25.2)						160.1
Capitalized software development costs			53.9						(15.2)						38.7						25.0						(2.9)						22.1
Licenses			39.7						(7.4)						32.3						39.0						(4.4)						34.6
Patents			39.2						(15.2)						24.0						35.2						(13.9)						21.3
Trademarks			20.1						(7.4)						12.7						19.8						(5.8)						14.0
Licenses-related party			7.5						(6.7)						0.8						7.5						(6.3)						1.2
Non-compete agreements			6.3						(2.6)						3.7						6.3						(1.1)						5.2
Other			1.7						(1.1)						0.6						1.6						(1.1)						0.5
Total intangible assets subject to amortization, net			$	552.3					$	(132.4)					$	419.9					$	540.6					$	(80.0)					$	460.6
Intangible assets not subject to amortization:
Trademarks															$	242.4																	$	262.0
Impairment charge															(10.0)																		—
Total trademarks															232.4																		262.0
Intangible assets, net															$	652.3																	$	722.6

The following intangible assets reclassification adjustments were made as of September 30, 2023(1):

			As Adjusted,  December 31, 2022																		As Previously Filed,  December 31, 2022
(in millions)			Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Intangible assets subject to amortization:
Capitalized software development costs			$	25.0					$	(2.9)					$	22.1					$	5.5					$	(2.9)					$	2.6
Trademarks			19.8						(5.8)						14.0						39.3						(5.8)						33.5

__________________

(1)    The Company recorded an immaterial reclassification adjustment between the intangible assets balances in Trademarks and Capitalized Software Development Costs in the amount of $19.5 million, for the year ended December 31, 2022. There was no impact on total intangible assets, net as for December 30, 2022. The adjusted balances were reflected in the Form 10-Q for the quarter ended September 30, 2023, filed with the SEC November 8, 2023.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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

Fiscal year			Amount (in millions)
2024			$	53.7
2025			51.0
2026			40.1
2027			39.2
2028			39.0
Thereafter			196.9
Total			$	419.9

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- References

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

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