
(In millions)	December 29, 2024		December 31, 2023
Cash and cash equivalents	$	98.3	$	118.9
Restricted cash included in Other assets	0.2		0.6
Cash, cash equivalents and restricted cash	$	98.5	$	119.5

The Company had no marketable securities outstanding as of December 29, 2024. The following table is a summary of marketable securities as of December 31, 2023:


	December 31, 2023
(In millions)		Amortized Cost		Gross Unrealized Losses		Fair Value
Corporate bonds		$	38.1	$	(0.1)	$	38.0

Corporate asset-backed securities		8.9		—		8.9

Agency bonds		1.5		—		1.5


Total marketable securities, current		48.5		(0.1)		48.4
Corporate bonds, non-current		4.5		—		4.5
Corporate asset-backed securities, non-current		0.9		—		0.9

Sovereign government bonds, non-current		2.0		—		2.0
Total marketable securities		$	55.9	$	(0.1)	$	55.8

Accounts receivables primarily consist of trade accounts receivables with maturities of one year or less and are presented net of reserves:


(In millions)	December 29, 2024		December 31, 2023
Accounts receivable	$	382.0	$	395.1
Allowance for contract rebates and discounts	(85.3)		(77.2)
Allowance for doubtful accounts	(14.3)		(14.6)
Total accounts receivable, net	$	282.4	$	303.3

The allowance for contractual rebates involves estimating adjustments to revenue based on a high volume of data, including inputs from third-party sources. In addition, the determination of such adjustments includes estimating rebate percentages which are dependent on estimated end-user sales mix and customer contractual terms, which vary across customers, the related balance of which was $39.8 million and $31.3 million at December 29, 2024 and December 31, 2023, respectively, and was included in the allowance for contract rebates and discounts.

The following table summarizes changes to the accounts receivable allowance balances for fiscal years ended 2024, 2023 and 2022:


	Balance at Beginning of Period		Additions Charged to Expense or as Reductions to Revenue (1)		Deductions (2)		Balance at end of period
(In millions)
Fiscal year ended December 29, 2024	$	91.8	$	486.2	$	(478.4)	$	99.6

Fiscal year ended December 31, 2023	$	89.1	$	493.5	$	(490.8)	$	91.8
Fiscal year ended January 1, 2023	$	52.4	$	407.6	$	(370.9)	$	89.1

(1)Includes opening balance of $31.4 million related to the Combinations during fiscal year ended 2022. Primarily represents charges for contract rebate allowances recorded as reductions to revenue. Additions to allowance for doubtful accounts are recorded to selling, marketing and administrative expense.

Inventories are stated at the lower of cost (first-in, first-out) or net realizable value. Inventories consisted of the following:


(In millions)	December 29, 2024		December 31, 2023
Raw materials	$	211.8	$	212.7
Work-in-process (materials, labor and overhead)	90.6		92.3
Finished goods (materials, labor and overhead)	291.6		318.1
Total inventories	$	594.0	$	623.1

Inventories	$	533.7	$	577.8
Other assets (1)	60.3		45.3
Total inventories	$	594.0	$	623.1


(In millions)	December 29, 2024		December 31, 2023
Income taxes and other tax receivables	$	112.1	$	104.7
Prepaid expenses	77.3		67.0
Contract assets	32.5		46.2
Other receivables	24.3		34.2
Derivatives	15.1		6.9
Other	1.1		3.1
Total prepaid expenses and other current assets	$	262.4	$	262.1


(In millions)	December 29, 2024		December 31, 2023
Equipment, furniture and fixtures	$	673.2	$	595.2
Building and improvements	330.0		399.7
Customer leased instruments	728.1		602.0
Finance lease right-of-use asset	12.5		—
Land	11.7		34.7
Construction in progress	350.9		332.8
Total property, plant and equipment, gross	2,106.4		1,964.4
Less: accumulated depreciation and amortization	(726.2)		(520.6)
Total property, plant and equipment, net	$	1,380.2	$	1,443.8

Construction in progress reflects amounts incurred for construction or improvements of property, plant, or equipment that have not been put in service. In addition, construction in progress includes certain instruments that have not been placed at a customer under a lease agreement that will be reclassified to leased instruments once placed at a customer site. The total expense for depreciation of fixed assets and amortization of leasehold improvements was $250.0 million, $252.4 million and $151.1 million for fiscal years ended 2024, 2023 and 2022, respectively.


(In millions)	December 29, 2024		December 31, 2023
Accrued commissions, rebates and returns	$	67.4	$	63.8
Accrued interest	39.0		30.3
Deferred revenue	33.5		36.8
Operating lease liabilities	31.1		26.7
Accrued other taxes payable	20.9		17.9
Derivatives	4.0		12.1



Other	92.8		115.7
Total other current liabilities	$	288.7	$	303.3