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Business Combinations (Tables) | 6 Months Ended
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Jun. 29, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 |  | 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 |  | (145.1) |
Other long-term liabilities |  | (77.0) |
Total liabilities assumed |  | $ | (489.8) |
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 |

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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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