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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Details of Goodwill

Details of aggregate goodwill of the Company are as follows:

(In millions)

Products

 

Services

 

 

Total

 

Balance at December 31, 2021

$

196.5

 

 

$

73.5

 

 

$

270.0

 

Measurement period adjustments

 

(1.5

)

 

 

 

 

(1.5

)

Divestiture of subsidiaries

 

(19.7

)

 

 

 

 

(19.7

)

Balance at December 30, 2022

$

175.3

 

 

$

73.5

 

 

$

248.8

 

 

Purchased Intangible Assets

Details of intangible assets were as follows:

 

 

 

 

As of December 30, 2022

 

 

As of December 31, 2021

 

 

 

 

 

Gross

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

 

Useful Life

 

 

Carrying

 

 

Accumulated

 

 

Carrying

 

 

Carrying

 

 

Accumulated

 

 

Carrying

 

(Dollars in millions)

(In years)

 

 

Amount

 

 

Amortization

 

 

Value

 

 

Amount

 

 

Amortization

 

 

Value

 

Customer relationships

6 - 10

 

 

$

172.0

 

 

$

(81.8

)

 

$

90.2

 

 

$

188.4

 

 

$

(66.9

)

 

$

121.5

 

Tradename

4 - 6*

 

 

 

32.5

 

 

 

(20.9

)

 

 

11.6

 

 

 

36.8

 

 

 

(17.5

)

 

 

19.3

 

Intellectual property/knowhow

7 - 15

 

 

 

37.7

 

 

 

(15.7

)

 

 

22.0

 

 

 

49.4

 

 

 

(13.1

)

 

 

36.3

 

Recipes

20

 

 

 

73.2

 

 

 

(15.8

)

 

 

57.4

 

 

 

73.2

 

 

 

(12.2

)

 

 

61.0

 

Standard operating procedures

20

 

 

 

8.6

 

 

 

(1.9

)

 

 

6.7

 

 

 

8.6

 

 

 

(1.4

)

 

 

7.2

 

Backlog

 

1

 

 

 

3.1

 

 

 

(3.1

)

 

 

0.0

 

 

 

4.3

 

 

 

(3.9

)

 

 

0.4

 

Total

 

 

 

$

327.1

 

 

$

(139.2

)

 

$

187.9

 

 

$

360.7

 

 

$

(115.0

)

 

$

245.7

 

Future Estimated Amortization Expense As of December 30, 2022, future estimated amortization expense is expected to be as follows:

 

 

Amortization

 

(In millions)

 

Expense

 

2023

 

$

22.5

 

2024

 

 

21.9

 

2025

 

 

19.9

 

2026

 

 

19.0

 

2027

 

 

18.7

 

Thereafter

 

 

76.9

 

Total

 

$

178.9