Balance Sheet Information

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Information

3. BALANCE SHEET INFORMATION

Inventories consisted of the following:

	June 30,		December 30,
(In millions)	2023		2022
Raw materials	$	203.6	$	230.4
Work in process		112.0		142.3
Finished goods		83.2		71.2
Total	$	398.8	$	443.9

The inventory write-downs are recorded on the basis of obsolete inventory or specific identified inventory in excess of estimated usage.

Property, plant and equipment, net, consisted of the following:

	Useful Life	June 30,			December 30,
(In millions)	(In years)	2023			2022
Land	n/a	$	2.9		$	3.0
Buildings	50		57.0			58.6
Leasehold improvements	*		86.0			81.3
Machinery and equipment	5-10		172.0			152.5
Computer equipment and software	3-10		75.0			68.3
Furniture and fixtures	5		5.5			5.1
			398.4			368.8
Accumulated depreciation			(162.5	)		(146.0	)
Construction in progress			70.6			56.8
Total		$	306.5		$	279.6

* Lesser of estimated useful life or remaining lease term