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Business Combinations (Tables)
 12 Months Ended
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 receivables108.5 
Inventories238.6 
Prepaid expenses and other current assets30.0 
Property, plant and equipment113.2 
Intangible assets
649.0 
Goodwill(1)
318.0 
Long-term other assets7.4 
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/tradenames10$6.0 
Customer relationships17196.0 
Developed technology8156.0 
Contractual license agreements1529.0 
Subtotal14 years$387.0 
Indefinite trademarks/tradenamesN/A262.0 
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)ActualPro formaPro forma
Net revenue$2,048.1 $2,293.4 $2,187.4 
Net income $81.5 $181.8 $126.2