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Goodwill and Indefinite-Lived Intangibles (Notes) | 6 Months Ended
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Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Indefinite-Lived Intangibles | GOODWILL AND INDEFINITE-LIVED INTANGIBLES The changes in the carrying amount of goodwill are as follows:
| Year-To-Date Ended
(In millions) | July 2, 2022 |  | July 3, 2021
Goodwill balance at beginning of the year | $ | 556.6 |  |  | $ | 442.4 |
Foreign currency translation effects | (17.5) |  |  | 1.2 |
Goodwill balance at end of the quarter | $ | 539.1 |  |  | $ | 443.6 |
The Company’s indefinite-lived intangible assets, which comprise trade names and trademarks, totaled $680.7 million, $718.1 million, and $382.3 million as of July 2, 2022, January 1, 2022, and July 3, 2021, respectively. The carrying values of the Company’s Sperry® and Sweaty Betty® trade names were $296.0 million an d $298.3 million, respectively, as of July 2, 2022. Based on the interim impairment assessment as of July 2, 2022, it was determined that there were no triggering events indicating impairment of the Company’s goodwill and indefinite-lived intangible assets. The risk of future non-cash impairment for the Sperry® and Sweaty Betty® trade names is dependent on whether actual results differ from the key assumptions used in the determination of the trade name's fair value, such as revenue growth, earnings before interest, taxes, depreciation and amortization ("EBITDA") margin, discount rate, and assumed tax rate, or if macroeconomic conditions deteriorate and adversely affect the values of the Company's Sperry® and Sweaty Betty® trade names.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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