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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of changes in goodwill | A summary of changes in goodwill by segment for the six months ended June 28, 2025, is as follows:
|  | Hydraulics |  |  | Electronics |  |  | Total |
Balance at December 28, 2024 |  | $ | 287.1 |  |  | $ | 211.8 |  |  | $ | 498.9 |
Assets held for sale |  |  | (5.6 | ) |  |  | — |  |  |  | (5.6 | )
Currency translation |  |  | 30.5 |  |  |  | 0.1 |  |  |  | 30.6 |
Balance at June 28, 2025 |  | $ | 312.0 |  |  | $ | 211.9 |  |  | $ | 523.9 |
Schedule of intangible assets | At June 28, 2025, and December 28, 2024, acquired intangible assets consisted of the following:
|  | June 28, 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 |  | $ | 95.8 |  |  | $ | (31.8 | ) |  | $ | 64.0 |  |  | $ | 94.1 |  |  | $ | (28.6 | ) |  | $ | 65.5 |
Non-compete agreements |  |  | 2.0 |  |  |  | (1.9 | ) |  |  | 0.1 |  |  |  | 2.0 |  |  |  | (1.6 | ) |  |  | 0.4 |
Technology |  |  | 54.6 |  |  |  | (34.1 | ) |  |  | 20.5 |  |  |  | 53.4 |  |  |  | (31.3 | ) |  |  | 22.1 |
Supply agreement |  |  | 21.0 |  |  |  | (18.0 | ) |  |  | 3.0 |  |  |  | 21.0 |  |  |  | (17.0 | ) |  |  | 4.0 |
Customer relationships |  |  | 400.2 |  |  |  | (102.5 | ) |  |  | 297.7 |  |  |  | 380.1 |  |  |  | (89.6 | ) |  |  | 290.5 |
Workforce |  |  | 6.1 |  |  |  | (6.1 | ) |  |  | — |  |  |  | 6.2 |  |  |  | (4.7 | ) |  |  | 1.5 |
|  | $ | 579.7 |  |  | $ | (194.3 | ) |  | $ | 385.4 |  |  | $ | 556.8 |  |  | $ | (172.8 | ) |  | $ | 384.0 |
Schedule of estimated amortization expense of intangible assets | Future estimated total amortization expense is presented below.
Year: |  |  |
2025 Remaining |  | $ | 15.5 |
2026 |  |  | 30.5 |
2027 |  |  | 27.4 |
2028 |  |  | 27.1 |
2029 |  |  | 25.2 |
2030 |  |  | 24.4 |
Thereafter |  |  | 235.4 |
Total |  | $ | 385.4 |

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