(1)

Goodwill acquired in 2020 related to the acquisitions of Smartrac, which is included in our RBIS reportable segment, and ACPO, which is included in our LGM reportable segment. We expect the recognized goodwill related to the Smartrac acquisition not to be deductible for income tax purposes and the recognized goodwill related to the ACPO acquisition to be deductible for income tax purposes.

(2)

Goodwill acquired related to the acquisitions of Vestcom, JDC and ZippyYum. We expect nearly all of the recognized goodwill related to the Vestcom and JDC acquisitions not to be deductible for income tax purposes and the recognized goodwill related to the ZippyYum acquisition to be deductible for income tax purposes.

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

The carrying amounts of goodwill at January 1, 2022 and January 2, 2021 were net of accumulated impairment losses

of $820 million recognized in fiscal year 2009 by our RBIS reportable segment.

Indefinite-Lived Intangible Assets

In connection with our acquisition of Vestcom, we acquired approximately $135

million of identifiable indefinite lived intangible assets consisting of trade names and trademarks. We utilized the income approach to estimate the fair values 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, royalty rates, discount rates, and economic lives assigned to the acquired intangible assets.

Results from our annual indefinite-lived intangible assets impairment test in the fourth quarter indicated that no impairment occurred in 2021. The carrying value of indefinite-lived intangible assets resulting from business acquisitions, consisting of trade names and trademarks, was $155.6 million and $22.2 million at January 1, 2022 and January 2, 2021, respectively.

Finite-Lived Intangible Assets

In connection with our acquisition of Vestcom, we acquired approximately

$592

million

of identifiable finite-lived intangible assets, which consisted of customer relationships and patented and other developed technology. We utilized the income approach to estimate the fair values 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 useful lives of these intangible assets as of the acquisition date.


	Amount (in millions)		Amortization period (in years)

Customer relationships	$	492.0		12
Patented and other developed technology		100.4		7

The intangible assets from the Other 2021 Acquisitions were not material to the Consolidated Financial Statements.

In connection with the 2020 Acquisitions, we acquired

approximately

$106

million of identifiable finite-lived intangible assets, which consisted of customer relationships, trade names and trademarks and patented and other developed technology. We utilized the income and cost approaches to estimate the fair values of acquired identifiable intangibles, primarily using Level 3 inputs.

The table below summarizes the amounts and weighted

average

useful lives of these intangible assets as of the acquisition date.


	Amount (in millions)		Weighted average amortization period (in years)
Patented and other developed technology	$	62.5		11
Customer relationships		41.4		7
Trade names and trademarks		2.2		5

Refer to Note 2, “Acquisitions,” for more information.

The table below sets forth our finite-lived intangible assets resulting from business acquisitions at January 1, 2022 and January 2, 2021, which continue to be amortized.


	2021						2020
(In millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	862.5	$	277.2	$	585.3	$	373.3	$	254.1	$	119.2
Patented and other developed technology		247.7		84.7		163.0		147.3		69.8		77.5
Trade names and trademarks		14.8		9.7		5.1		28.2		22.2		6.0
Other intangibles		3.2		.8		2.4		.2		.2		–
Total	$	1,128.2	$	372.4	$	755.8	$	549.0	$	346.3	$	202.7

Amortization expense for finite-lived intangible assets resulting from business acquisitions was $44.6 million for 2021, $19.9 million for 2020 and $13.5 million for 2019.

We expect estimated amortization expense for finite-lived intangible assets resulting from business acquisitions for each of the next five fiscal years to be as follows:


(In millions)	Estimated Amortization Expense
2022	$	43.5
2023		42.5
2024		40.8
2025		40.0
2026		36.9