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Goodwill and Intangible Assets, net (Tables) | 6 Months Ended
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Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | Our goodwill balance and changes in carrying value by segment are as follows:
(in millions) | Products and Solutions |  | ADI Global Distribution |  | Total
Balance at January 1, 2024 | $ | 2,045 |  |  | $ | 660 |  |  | $ | 2,705 |
Acquisitions (1) | — |  |  | 393 |  |  | 393 |
Impact of foreign currency translation | (14) |  |  | (5) |  |  | (19) |
Balance at June 29, 2024 | $ | 2,031 |  |  | $ | 1,048 |  |  | $ | 3,079 |
(1) Please refer to Note 3. Acquisitions for additional information.
Schedule of Indefinite-Lived Intangible Assets | The following table summarizes the net carrying amount of intangible assets:
(in millions) | June 29, 2024 |  | December 31, 2023
Intangible assets subject to amortization | $ | 1,038 |  |  | $ | 281 |
Indefinite-lived intangible assets | 180 |  |  | 180 |
Total intangible assets | $ | 1,218 |  |  | $ | 461 |
Schedule of Finite-Lived Intangible Assets | The following table summarizes the net carrying amount of intangible assets:
(in millions) | June 29, 2024 |  | December 31, 2023
Intangible assets subject to amortization | $ | 1,038 |  |  | $ | 281 |
Indefinite-lived intangible assets | 180 |  |  | 180 |
Total intangible assets | $ | 1,218 |  |  | $ | 461 |
Intangible assets subject to amortization consisted of the following:
| June 29, 2024 |  | December 31, 2023 |  |  |  |
(in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  |  |  |
Patents and technology | $ | 170 |  |  | $ | (30) |  |  | $ | 140 |  |  | $ | 64 |  |  | $ | (26) |  |  | $ | 38 |  |  |  |  |
Customer relationships | 905 |  |  | (146) |  |  | 759 |  |  | 319 |  |  | (138) |  |  | 181 |  |  |  |  |
Trademarks | 79 |  |  | (8) |  |  | 71 |  |  | 9 |  |  | (8) |  |  | 1 |  |  |  |  |
Software | 205 |  |  | (137) |  |  | 68 |  |  | 193 |  |  | (132) |  |  | 61 |  |  |  |  |
Intangible assets subject to amortization | $ | 1,359 |  |  | $ | (321) |  |  | $ | 1,038 |  |  | $ | 585 |  |  | $ | (304) |  |  | $ | 281 |  |  |  |  |

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