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Acquisitions and Divestments (Tables)

3 Months Ended

Mar. 29, 2020

Summary of Preliminary Fair Values of Assets Acquired and Liabilities Assumed

The preliminary fair values of the assets acquired and liabilities assumed in the acquisition, by major class, were recognized as follows:



Tangible fixed assets	2
Inventory	50
Identified intangible assets	514
Goodwill	1,138
Deferred tax assets	1
Net assets acquired	1,705

Summary of Intangible Assets Recognized

The identified intangible assets assumed were recognized as follows:



	Fair Value	Weighted Average Estimated Useful Life (in Years)
Customer relationships (included in customer-related)	20	6
Developed technology (included in technology-based)	324	4.4
In-process research and development ⁽¹⁾	170	N/A
Total identified intangible assets	514

¹⁾

Acquired in-process research and development (“IPR&D”) is an intangible asset classified as an indefinite lived asset until the completion or abandonment of the associated research and development effort. IPR&D will be amortized over an estimated useful life to be determined at the date the associated research and development effort is completed, or expensed immediately when, and if, the project is abandoned. Acquired IPR&D is not amortized during the period that it is considered indefinite lived, but rather is subject to annual testing for impairment or when there are indicators for impairment.