Intangible Assets and Goodwill

12 Months Ended

Dec. 29, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

NOTE 5: INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

The following table presents a summary of our intangible assets:

	At the End of 2023							At the End of 2022
(In millions)	Weighted-Average Useful Lives (in years)	Gross Carrying Amount		Accumulated Amortization		Net  Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net  Carrying Amount
Developed product technology	6	$	908.5	$	(554.1)	$	354.4	$	1,004.8	$	(722.7)	$	282.1
Customer relationships	10	1,358.4		(474.5)		883.9		654.1		(445.9)		208.2
Trade names and trademarks	6	43.8		(38.6)		5.2		39.5		(32.7)		6.8
Distribution rights and other intellectual property	7	4.2		(4.2)		—		8.0		(7.0)		1.0
		$	2,314.9	$	(1,071.4)	$	1,243.5	$	1,706.4	$	(1,208.3)	$	498.1

As of the end of 2023 and 2022, $267.8 million and $79.9 million of fully amortized intangible assets were written off.

The estimated future amortization expense of intangible assets at the end of 2023 was as follows:

(In millions)
2024	$	200.4
2025	168.6
2026	163.4
2027	149.7
2028	135.6
Thereafter	425.8
Total	$	1,243.5

Goodwill

The changes in the carrying amount of goodwill by segment for 2023 were as follows: 

	Buildings and Infrastructure		Geospatial		Resources and Utilities		Transportation		Total
(In millions)
Balance as of year end 2022	$	2,300.1	$	382.1	$	471.8	$	983.9	$	4,137.9
Additions due to acquisitions	27.7		—		—		1,390.1		1,417.8
Assets held for sale	—		(1.9)		(266.2)		—		(268.1)
Foreign currency translation and other adjustments	19.5		4.9		10.8		27.8		63.0
Balance as of year end 2023	$	2,347.3	$	385.1	$	216.4	$	2,401.8	$	5,350.6