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Business Combinations
 6 Months Ended
Jul. 03, 2020
Business Combinations [Abstract]  
BUSINESS COMBINATIONS BUSINESS COMBINATIONS
During the first quarter of fiscal 2020, we acquired Kuebix with total purchase consideration of $201.1 million. There were no other acquisitions during the first two quarters of fiscal 2020. Kuebix is a leading transportation management system provider and creator of North America's largest connected shipping community. This acquisition will enable us to create a new platform for planning, execution, and freight demand-capacity matching. The Condensed Consolidated Statements of Income include the operating results of the acquired business from the date of acquisition. The acquisition contributed less than 1% to our total revenue during the first two quarters of fiscal 2020.
The fair value of identifiable assets acquired, and liabilities assumed were determined under the acquisition method of accounting for business combinations as of the date of acquisition. The excess of purchase consideration over the fair value of net tangible and identifiable intangible assets acquired was recorded as goodwill. The fair value of intangible assets acquired is determined based on a discounted cash flow analysis. For the acquisition in the first quarter of fiscal 2020, the preliminary fair value of net tangible assets and intangible assets acquired was based on preliminary valuations and estimates, and assumptions are subject to change within the measurement period (up to one year from the acquisition date).
Intangible Assets
The following table presents details of the Company’s total intangible assets: 
As of
Second Quarter of Fiscal 2020
 
Fiscal Year End 2019
 
Gross
 
 
 
 
 
Gross
 
 
 
 
 
Carrying
 
Accumulated
 
Net Carrying
 
Carrying
 
Accumulated
 
Net Carrying
(In millions)
Amount
 
Amortization
 
Amount
 
Amount
 
Amortization
 
Amount
Developed product technology
$
1,302.5

 
$
(958.1
)
 
$
344.4

 
$
1,266.7

 
$
(923.4
)
 
$
343.3

Trade names and trademarks
74.3

 
(65.1
)
 
9.2

 
74.8

 
(59.8
)
 
15.0

Customer relationships
773.2

 
(489.2
)
 
284.0

 
769.8

 
(465.6
)
 
304.2

Distribution rights and other intellectual property
71.4

 
(63.7
)
 
7.7

 
79.7

 
(63.5
)
 
16.2

 
$
2,221.4

 
$
(1,576.1
)
 
$
645.3

 
$
2,191.0

 
$
(1,512.3
)
 
$
678.7


The estimated future amortization expense of purchased intangible assets as of the end of the second quarter of fiscal 2020 was as follows:
(In millions)
 
2020 (Remaining)
$
77.3

2021
137.2

2022
118.3

2023
105.2

2024
79.8

Thereafter
127.5

Total
$
645.3


Goodwill
The changes in the carrying amount of goodwill by segment for the first two quarters of fiscal 2020 were as follows: 
 
Buildings and Infrastructure
 
Geospatial
 
Resources and Utilities
 
Transportation
 
Total
(In millions)
 
 
 
 
 
 
 
 
 
Balance as of fiscal year end 2019
$
1,973.0

 
$
401.5

 
$
445.4

 
$
860.7

 
$
3,680.6

Additions due to acquisitions
—

 
—

 
—

 
147.6

 
147.6

Purchase price and foreign currency translation adjustments
(8.2
)
 
(1.4
)
 
(5.2
)
 
(5.9
)
 
(20.7
)
Balance as of the end of the second quarter of fiscal 2020
$
1,964.8

 
$
400.1

 
$
440.2

 
$
1,002.4

 
$
3,807.5