Goodwill and Other Intangibles Resulting From Business Acquisitions

6 Months Ended

Jul. 03, 2021

Goodwill and Other Intangibles Resulting From Business Acquisitions

Goodwill and Other Intangibles Resulting From Business Acquisitions

Note 3.  Goodwill and Other Intangibles Resulting from Business Acquisitions

Changes in the net carrying amount of goodwill for the six months ended July 3, 2021 by reportable segment are shown below.

(In millions)	Label and Graphic Materials			Retail Branding    and Information Solutions			Industrial and Healthcare Materials			Total
Goodwill as of January 2, 2021	$	480.9		$	471.8		$	183.7		$	1,136.4
Acquisitions(1)		—			17.9			6.8			24.7
Acquisition adjustment(2)		1.2			—			—			1.2
Translation adjustments		(12.0	)		(4.2	)		(1.1	)		(17.3	)
Goodwill as of July 3, 2021	$	470.1		$	485.5		$	189.4		$	1,145.0

(1) Goodwill acquired related to the acquisitions of JDC and ZippyYum. We expect the recognized goodwill related to the JDC acquisition not to be deductible for income tax purposes and the recognized goodwill related to the ZippyYum acquisition to be deductible for income tax purposes.

(2) Measurement period adjustment related to the finalization of the purchase price allocation for the acquisition of ACPO, Ltd. completed in December 2020.

Finite-Lived Intangible Assets

The intangibles assets from the 2021 Acquisitions were not material to the unaudited Condensed Consolidated Financial Statements.

Refer to Note 2, “Acquisitions,” to the unaudited Condensed Consolidated Financial Statements for more information.