Property and Equipment, net (Tables)

9 Months Ended

Sep. 28, 2024

Property, Plant and Equipment [Abstract]

Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over estimated useful lives as follows:


			Useful Lives


Buildings and building improvements			7 to 39 years
Computer equipment and software			2 to 12 years
Demonstration units			2 to 3 years
Furniture and office equipment			2 to 15 years
Leasehold improvements			Lesser of useful life or term of lease
Machinery, equipment and tooling			3 to 20 years
Operating lease assets			Lesser of useful life or term of lease
Transportation, vehicles and other			1 to 20 years

Property and equipment, net, consists of the following:


(in millions)	September 28, 2024		December 30, 2023
Machinery, equipment and tooling	$	188.7	$	169.7
Building and building improvements	151.0		151.0
Operating lease assets	128.2		92.2
Land(1)	55.0		66.2
Computer equipment and software	47.0		45.5
Leasehold improvements	42.0		37.5

Transportation, vehicles and other(2)	27.2		34.0
Furniture and office equipment	19.9		20.4
Demonstration units	12.3		11.1
Construction-in-progress (CIP)	51.9		59.2
Total property and equipment	723.2		686.8
Accumulated depreciation	(305.3)		(262.4)
Property and equipment, net(1)	$	417.9	$	424.4

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(1) At March 30, 2024, property, plant and equipment, net, excluded $11.4 million of idle undeveloped land held outside of the U,S. which was classified as held for sale within the healthcare segment. In May 2024, the Company completed the sale of the land, resulting in a gain of $0.9 million, which was recorded net of transaction costs, foreign currency translation and cumulative translation adjustments to non-operating loss.

(2) During the three months ended September 28, 2024, the Company reduced its fleet of vehicles for use primarily by field sales representatives. The proceeds from the sale of the vehicles were $2.0 million, which was recorded to non-operating loss. In October 2024, the Company grounded the corporate aircraft and has been exploring disposition strategies.