Intangible assets

6 Months Ended

Jun. 27, 2020

Goodwill and Intangible Assets Disclosure [Abstract]


	As of June 27, 2020										As of December 28, 2019
(dollars in millions)	Cost		Accumulated amortization and impairment		Net		Cost		Accumulated amortization and impairment		Net
Finite-lived:
—Customer relationships	$	1,982.0	$	(702.5)	$	1,279.5	$	2,021.8	$	(656.3)	$	1,365.5
—Technology	90.4		(87.9)		2.5		90.8		(87.8)		3.0
—Capitalized software	83.7		(43.9)		39.8		76.1		(38.0)		38.1
	2,156.1		(834.3)		1,321.8		2,188.7		(782.1)		1,406.6
Indefinite-lived:
—Brands and trade names	513.4		(44.0)		469.4		513.4		(44.0)		469.4
Total intangible assets	$	2,669.5	$	(878.3)	$	1,791.2	$	2,702.1	$	(826.1)	$	1,876.0

During the three months ended June 27, 2020, the amortization expense recognized in respect of intangible assets was $31.7 million, compared with $32.5 million expense for the three months ended June 29, 2019. In addition, movements in foreign currency exchange rates resulted in an increase in the net carrying value of total intangible assets of $11.2 million for the three months ended June 27, 2020, compared with an increase of $4.7 million for the three months ended June 29, 2019.

During the six months ended June 27, 2020, the amortization expense recognized in respect of intangible assets was $63.9 million, compared with $65.1 million for the six months ended June 29, 2019. In addition, movements in foreign currency exchange rates resulted in a decrease in the net carrying value of total intangible assets of $27.2 million for the six months ended June 27, 2020, compared with an increase of $8.0 million for the six months ended June 29, 2019.