Intangible Assets and Goodwill

6 Months Ended

Jul. 01, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

The following table presents a summary of our intangible assets:

	Second Quarter of 2022						Year End 2021
	Gross						Gross
	Carrying		Accumulated		Net Carrying		Carrying		Accumulated		Net Carrying
(In millions)	Amount		Amortization		Amount		Amount		Amortization		Amount
Developed product technology	$	948.5	$	(729.3)	$	219.2	$	1,011.9	$	(748.2)	$	263.7
Customer relationships	632.7		(427.0)		205.7		667.8		(428.9)		238.9
Trade names and trademarks	45.6		(38.6)		7.0		48.0		(45.0)		3.0
Distribution rights and other intellectual property	9.2		(8.2)		1.0		10.0		(9.0)		1.0
	$	1,636.0	$	(1,203.1)	$	432.9	$	1,737.7	$	(1,231.1)	$	506.6

The estimated future amortization expense of intangible assets at the end of the second quarter of 2022 was as follows:

(In millions)
2022 (Remaining)	$	58.4
2023	112.5
2024	89.1
2025	55.6
2026	49.3
Thereafter	68.0
Total	$	432.9

Goodwill

The changes in the carrying amount of goodwill by segment for the first two quarters of 2022 were as follows: 

	Buildings and Infrastructure		Geospatial		Resources and Utilities		Transportation		Total
(In millions)
Balance as of year end 2021	$	2,141.4	$	403.6	$	440.8	$	995.7	$	3,981.5
Decrease from the sale of businesses	(23.9)		(6.9)		—		(6.9)		(37.7)
Foreign currency translation and other adjustments	(33.8)		(11.4)		(8.5)		(4.1)		(57.8)
Balance as of the end of the second quarter of 2022	$	2,083.7	$	385.3	$	432.3	$	984.7	$	3,886.0