Intangible Assets and Goodwill (Tables)

9 Months Ended

Oct. 03, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The following table presents a summary of our intangible assets:

	As of
	Third Quarter of 2025						Year End 2024
	Gross						Gross
	Carrying		Accumulated		Net Carrying		Carrying		Accumulated		Net Carrying
(In millions)	Amount		Amortization		Amount		Amount		Amortization		Amount
Developed product technology	$	817.4	$	(588.5)	$	228.9	$	819.0	$	(561.2)	$	257.8
Customer relationships	1,274.6		(540.0)		734.6		1,175.5		(440.2)		735.3
Trade names and other intellectual properties	36.0		(32.1)		3.9		39.0		(34.0)		5.0
	$	2,128.0	$	(1,160.6)	$	967.4	$	2,033.5	$	(1,035.4)	$	998.1

Schedule of Estimated Future Amortization Expense

The estimated future amortization expense of intangible assets at the end of the third quarter of 2025 was as follows:

(In millions)
2025 (Remaining)	$	43.7
2026	171.0
2027	157.7
2028	143.5
2029	122.0
Thereafter	329.5
Total	$	967.4

Schedule of Changes in Carrying Amount of Goodwill by Operating Segment

The changes in the carrying amount of goodwill by segment for the first three quarters of 2025 were as follows: 

	AECO		Field Systems		T&L		Total
(In millions)
Balance as of year end 2024	$	1,986.1	$	958.2	$	2,044.1	$	4,988.4
Decreases due to divestitures	—		—		(3.6)		(3.6)
Foreign currency translation and other adjustments	50.6		17.8		183.9		252.3
Balance as of the end of the third quarter of 2025	$	2,036.7	$	976.0	$	2,224.4	$	5,237.1