Intangible Assets, net

3 Months Ended

Mar. 29, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

9. Intangible Assets, net

Intangible assets, net, consist of the following:


	March 29, 2025						December 28, 2024
(in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Intangible assets subject to amortization:
Patents	$	44.8	$	(18.1)	$	26.7	$	44.0	$	(17.5)	$	26.5
Acquired technologies	28.1		(16.3)		11.8		27.9		(15.8)		12.1
Customer relationships	24.6		(13.6)		11.0		24.6		(13.3)		11.3
Trademarks	13.8		(7.5)		6.3		13.7		(7.2)		6.5

Licenses	2.3		(1.3)		1.0		2.3		(1.2)		1.1
Licenses-related party	7.5		(7.2)		0.3		7.5		(7.1)		0.4
Other	7.9		(4.5)		3.4		8.1		(4.4)		3.7
Total intangible assets subject to amortization, net	$	129.0	$	(68.5)	$	60.5	$	128.1	$	(66.5)	$	61.6

Finite lived intangible assets have a weighted-average amortization period ranging from twelve years to fourteen years. Total amortization expense for the three months ended March 29, 2025 and March 30, 2024 was $2.1 million and $2.6 million, respectively.

Total renewal costs capitalized for patents and trademarks for the three months ended March 29, 2025 and March 30, 2024 were $0.2 million and $0.3 million, respectively. As of March 29, 2025, the weighted-average number of years until the next renewal was two years for patents and six years for trademarks.

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


Fiscal year	Amount (in millions)
2025 (balance of year)	$	6.2
2026	7.4
2027	6.7
2028	6.4
2029	5.5
Thereafter	28.3
Total	$	60.5

Indefinite-lived intangible assets are subject to annual impairment testing, unless circumstances dictate more frequent testing, if impairment indicators exist. For goodwill, the Company performs a qualitative assessment during the fourth quarter each year, for its annual impairment analysis. In the fourth quarter 2024, the Company performed its annual impairment analysis, and concluded that it was more likely than not that the fair value of the healthcare reporting unit was greater than its carrying value. Accordingly, no further testing was required on this reporting unit.