Goodwill and Other Intangibles Resulting from Business Acquisitions (Tables)

3 Months Ended

Apr. 01, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in net carrying amount of goodwill

Changes in the net carrying amount of goodwill for the three months ended April 1, 2023 by reportable segment are shown below.

(In millions)	Materials Group		Solutions Group		Total
Goodwill as of December 31, 2022	$	618.7	$	1,243.7	$	1,862.4
Acquisitions(1)	—		16.8		16.8
Translation adjustments	7.8		.5		8.3
Goodwill as of April 1, 2023	$	626.5	$	1,261.0	$	1,887.5

(1) Goodwill acquired related to the acquisition of Thermopatch. We expect the recognized goodwill related to this acquisition to be partially deductible for income tax purposes.

Estimated amortization expense for finite-lived intangible assets

Estimated future amortization expense related to existing finite-lived intangible assets for the remainder of fiscal year 2023 and for each of the next four fiscal years and thereafter is shown below. These amounts include the effects of the acquisition of Thermopatch.

(In millions)	Estimated Amortization Expense
2023 (remainder of year)	$	61.5
2024	80.5
2025	79.7
2026	76.8
2027	71.5
2028 and thereafter	308.1