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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill and other intangible assets included in the Condensed Consolidated Balance Sheets consisted of the following:
| September 28, 2024 |  | December 30, 2023
Goodwill, net | $ | 442.1 |  |  | $ | 441.0 |
Definite-lived intangible assets, net | 140.3 |  |  | 161.7 |
Indefinite-lived intangible assets | 49.1 |  |  | 49.1 |
Total goodwill and other intangible assets, net | $ | 631.5 |  |  | $ | 651.9 |
Goodwill The activity in the carrying amount of goodwill, by reporting segment, was as follows:
| Workplace Furnishings |  | Residential Building Products |  | Total
Balance as of December 30, 2023 |  |  |  |  |
Goodwill | $ | 297.2 |  |  | $ | 222.4 |  |  | $ | 519.6 |
Accumulated impairment losses | (78.5) |  |  | (0.1) |  |  | (78.6) |
Net goodwill balance as of December 30, 2023 | 218.7 |  |  | 222.3 |  |  | 441.0 |
Goodwill measurement period adjustments | 1.1 |  |  | — |  |  | 1.1 |
Balance as of September 28, 2024 |  |  |  |  |
Goodwill | 298.3 |  |  | 222.4 |  |  | 520.7 |
Accumulated impairment losses | (78.5) |  |  | (0.1) |  |  | (78.6) |
Net goodwill balance as of September 28, 2024 | $ | 219.8 |  |  | $ | 222.3 |  |  | $ | 442.1 |
Goodwill measurement period adjustments were made in the first quarter of 2024 related to the acquisition of Kimball International. The measurement period was closed during the second quarter of 2024. See "Note 3. Acquisitions and Divestitures" for further information. Definite-lived intangible assets The table below summarizes amortizable definite-lived intangible assets, which are reflected in "Goodwill and Other Intangible Assets, net" in the Condensed Consolidated Balance Sheets:
| September 28, 2024 |  | December 30, 2023
| Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Software | $ | 189.1 |  |  | $ | 146.5 |  |  | $ | 42.7 |  |  | $ | 199.6 |  |  | $ | 143.4 |  |  | $ | 56.2 |
Trademarks and trade names | 17.9 |  |  | 8.0 |  |  | 9.9 |  |  | 18.1 |  |  | 7.3 |  |  | 10.8 |
Customer lists and other | 139.7 |  |  | 52.0 |  |  | 87.8 |  |  | 143.9 |  |  | 49.2 |  |  | 94.7 |
Net definite-lived intangible assets | $ | 346.7 |  |  | $ | 206.4 |  |  | $ | 140.3 |  |  | $ | 361.6 |  |  | $ | 199.8 |  |  | $ | 161.7 |
Amortization expense is reflected in "Selling and administrative expenses" in the Condensed Consolidated Statements of Comprehensive Income and was as follows:
| Three Months Ended |  | Nine Months Ended
| September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Capitalized software | $ | 5.1 |  |  | $ | 5.9 |  |  | $ | 15.5 |  |  | $ | 16.8 |
Other definite-lived intangibles | $ | 2.6 |  |  | $ | 2.3 |  |  | $ | 7.9 |  |  | $ | 5.8 |
The occurrence of events such as acquisitions, dispositions, or impairments may impact future amortization expense. Over the next several years, amortization expense is expected to decline due primarily to the completion of the amortization of the Corporation's Business Systems Transformation investment. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five years is as follows:
|  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028
Amortization expense |  | $ | 30.3 |  |  | $ | 27.6 |  |  | $ | 23.0 |  |  | $ | 16.9 |  |  | $ | 9.0 |
Indefinite-lived intangible assets The Corporation also owns certain intangible assets, which are deemed to have indefinite useful lives because they are expected to generate cash flows indefinitely. These indefinite-lived intangible assets are reflected in "Goodwill and Other Intangible Assets, net" in the Condensed Consolidated Balance Sheets:
| September 28, 2024 |  | December 30, 2023
Trademarks and trade names | $ | 49.1 |  |  | $ | 49.1 |
Impairment Analysis The Corporation evaluates its goodwill and indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter, or whenever indicators of impairment exist. The Corporation also evaluates long-lived assets (which include definite-lived intangible assets) for impairment if indicators exist. No impairment triggers were identified that warranted further impairment analysis in the current period.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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