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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of changes in goodwill | A summary of changes in goodwill by segment for the three months ended March 29, 2025, is as follows:
|  | Hydraulics |  |  | Electronics |  |  | Total |
Balance at December 28, 2024 |  | $ | 287.1 |  |  | $ | 211.8 |  |  | $ | 498.9 |
Currency translation |  |  | 9.5 |  |  |  | — |  |  |  | 9.5 |
Balance at March 29, 2025 |  | $ | 296.6 |  |  | $ | 211.8 |  |  | $ | 508.4 |
Schedule of intangible assets | At March 29, 2025, and December 28, 2024, acquired intangible assets consisted of the following:
|  | March 29, 2025 |  |  | December 28, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Definite-lived intangibles: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names and brands |  | $ | 95.2 |  |  | $ | (30.3 | ) |  | $ | 64.9 |  |  | $ | 94.1 |  |  | $ | (28.6 | ) |  | $ | 65.5 |
Non-compete agreements |  |  | 2.0 |  |  |  | (1.7 | ) |  |  | 0.3 |  |  |  | 2.0 |  |  |  | (1.6 | ) |  |  | 0.4 |
Technology |  |  | 54.1 |  |  |  | (33.0 | ) |  |  | 21.1 |  |  |  | 53.4 |  |  |  | (31.3 | ) |  |  | 22.1 |
Supply agreement |  |  | 21.0 |  |  |  | (17.5 | ) |  |  | 3.5 |  |  |  | 21.0 |  |  |  | (17.0 | ) |  |  | 4.0 |
Customer relationships |  |  | 387.5 |  |  |  | (95.9 | ) |  |  | 291.6 |  |  |  | 380.1 |  |  |  | (89.6 | ) |  |  | 290.5 |
Workforce |  |  | 6.1 |  |  |  | (5.5 | ) |  |  | 0.6 |  |  |  | 6.2 |  |  |  | (4.7 | ) |  |  | 1.5 |
|  | $ | 565.9 |  |  | $ | (183.9 | ) |  | $ | 382.0 |  |  | $ | 556.8 |  |  | $ | (172.8 | ) |  | $ | 384.0 |
Schedule of estimated amortization expense of intangible assets | F uture estimated total amortization expense is presented below.
Year: |  |  |
2025 Remaining |  | $ | 23.6 |
2026 |  |  | 30.0 |
2027 |  |  | 26.9 |
2028 |  |  | 26.5 |
2029 |  |  | 24.4 |
2030 |  |  | 23.7 |
Thereafter |  |  | 226.9 |
Total |  | $ | 382.0 |

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