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Business Combinations (Tables)

12 Months Ended

Dec. 28, 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

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 31, 2022
(in millions)																		Pro forma
Net revenue																		$	2,293.4
Net income																		$	181.8

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

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- References

No definition available.

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X

- 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

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