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GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS
 12 Months Ended
Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS GOODWILL AND OTHER INTANGIBLES RESULTING FROM BUSINESS ACQUISITIONS
Goodwill
Results from our annual goodwill impairment test in the fourth quarter of 2024 indicated that no impairment occurred during 2024. The assumptions used in our assessment were primarily based on Level 3 inputs.
Changes in the net carrying amount of goodwill for 2024 and 2023 by reportable segment are shown below.
(In millions)Materials GroupSolutions GroupTotal
Goodwill as of December 31, 2022
$618.7 $1,243.7 $1,862.4 
Acquisitions(1)
— 135.0 135.0 
Translation adjustments12.0 4.2 16.2 
Goodwill as of December 30, 2023
630.7 1,382.9 2,013.6 
Acquisition adjustments(2)
— (2.7)(2.7)
Translation adjustments(24.6)(10.1)(34.7)
Goodwill as of December 28, 2024
$606.1 $1,370.1 $1,976.2 
(1)Goodwill acquired related to the 2023 Acquisitions. We expect substantially all of the recognized goodwill related to the 2023 Acquisitions not to be deductible for income tax purposes.
(2)Measurement period adjustments related to the finalization of the purchase price allocation for our 2023 Acquisitions.
The carrying amounts of goodwill at December 28, 2024 and December 30, 2023 were net of accumulated impairment losses of $820 million recognized in fiscal year 2009 by our Solutions Group reportable segment.
Indefinite-Lived Intangible Assets
Results from our annual indefinite-lived intangible assets impairment test in the fourth quarter indicated that no impairment occurred in 2024. The carrying value of indefinite-lived intangible assets resulting from business acquisitions, consisting of trade names and trademarks, was $154.5 million and $155.3 million at December 28, 2024 and December 30, 2023, respectively.
Finite-Lived Intangible Assets
In connection with the 2023 Acquisitions, we acquired approximately $94 million of identifiable finite-lived intangible assets, which consisted of customer relationships, patented and other developed technology, and trade names and trademarks. We utilized the income approach to estimate the fair value of acquired identifiable intangibles, primarily using Level 3 inputs. We applied significant judgment in determining the fair value of intangible assets, which included our estimates and assumptions with respect to estimated future revenue and related profit margins, customer retention rates, technology migration curves, royalty rates, discount rates and economic lives assigned to the acquired intangible assets.
The table below summarizes the amounts and weighted average useful lives of the intangible assets associated with the 2023 Acquisitions as of their respective acquisition dates.
Amount
(in millions)		Weighted average
amortization
period
(in years)
Customer relationships$68.8 11
Patented and other developed technology22.2 7
Trade names and trademarks3.0 6
Refer to Note 2, “Business Acquisitions,” for more information.
The table below sets forth our finite-lived intangible assets resulting from business acquisitions at December 28, 2024 and December 30, 2023, which continue to be amortized.
20242023
(In millions)Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
Customer relationships$916.0 $438.5 $477.5 $922.5 $383.7 $538.8 
Patented and other developed technology275.2 156.8 118.4 278.3 130.2 148.1 
Trade names and trademarks17.1 12.8 4.3 17.4 11.7 5.7 
Other intangibles3.2 2.6 .6 3.2 2.0 1.2 
Total$1,211.5 $610.7 $600.8 $1,221.4 $527.6 $693.8 
Amortization expense for finite-lived intangible assets resulting from business acquisitions was $89.4 million for 2024, $86.3 million for 2023 and $81.8 million for 2022.
We expect estimated amortization expense for finite-lived intangible assets resulting from business acquisitions for each of the next five fiscal years and thereafter to be as follows:
(In millions)Estimated
Amortization
Expense
2025$88.2 
202685.4 
202785.0 
202877.2 
202961.8 
2030 and thereafter
203.2