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Intangible assets
6 Months Ended
Jun. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible assets Intangible assets
As of June 28, 2025As of December 28, 2024
(dollars in millions)
CostAccumulated
amortization and
impairment
NetCostAccumulated
amortization and
impairment
Net
Finite-lived:
—Customer relationships
$1,996.5 $(1,301.8)$694.7 $1,921.5 $(1,194.7)$726.8 
—Technology
90.9 (90.9) 90.5 (90.5) 
—Capitalized software
162.0 (93.4)68.6 138.2 (85.8)52.4 
2,249.4 (1,486.1)763.3 2,150.2 (1,371.0)779.2 
Indefinite-lived:
—Brands and trade names
513.4 (44.0)469.4 513.4 (44.0)469.4 
Total intangible assets
$2,762.8 $(1,530.1)$1,232.7 $2,663.6 $(1,415.0)$1,248.6 
During the three months ended June 28, 2025, the amortization expense recognized in respect of intangible assets was $32.1 million, compared to $32.2 million for the three months ended June 29, 2024. In addition, movements in foreign currency exchange rates resulted in an increase in the net carrying value of total intangible assets of $22.6 million for the three months ended June 28, 2025, compared to a decrease of $10.8 million for the three months ended June 29, 2024.
During the six months ended June 28, 2025, the amortization expense recognized in respect of intangible assets was $63.5 million, compared to $64.7 million for the six months ended June 29, 2024. In addition, movements in foreign currency exchange rates resulted in an increase in the net carrying value of total intangible assets of $29.8 million for the six months ended June 28, 2025, compared to a decrease of $19.6 million for the six months ended June 29, 2024.