Business Combinations (Tables)

3 Months Ended

Mar. 29, 2024

Business Combination and Asset Acquisition [Abstract]

Summary of Preliminary Fair Values of Assets Acquired, Liabilities Assumed and Noncontrolling Interest at Date of Acquisition

The following table summarizes the preliminary fair values of assets acquired and liabilities assumed at the date of acquisition:

(In millions)	Amount
Cash and cash equivalents	$	0.4
Accounts receivable	5.6
Inventories	11.4
Prepaid expenses and other assets	2.7
Property, plant and equipment	9.3
Purchased intangible assets	51.6
Operating lease right-of-use assets	7.5
Accounts payable	(8.1)
Accrued compensation and related benefits	(0.7)
Other current liabilities	(0.9)
Deferred tax liabilities	(12.0)
Operating lease liabilities	(9.6)
Total identifiable net assets	$	57.2
Goodwill	$	16.4

Summary of Purchased Intangible Assets

The following table summarizes the intangible assets acquired and the useful lives of these assets:

		Purchased
	Useful Life	Intangible  Assets
	(In years)	(In millions)
Customer relationships	7	$	35.2
IP knowhow	5	11.2
Developed technology	5	4.6
Backlog	1	0.6
Total purchased intangible assets		$	51.6