Intangible assets

9 Months Ended

Sep. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]


	As of September 28, 2024						As of December 30, 2023
(dollars in millions)	Cost		Accumulated amortization and impairment		Net		Cost		Accumulated amortization and impairment		Net
Finite-lived:
—Customer relationships	$	1,981.7	$	(1,202.8)	$	778.9	$	2,003.6	$	(1,127.7)	$	875.9
—Technology	90.8		(90.8)		—		90.6		(90.3)		0.3
—Capitalized software	131.1		(84.7)		46.4		117.3		(76.8)		40.5
	2,203.6		(1,378.3)		825.3		2,211.5		(1,294.8)		916.7
Indefinite-lived:
—Brands and trade names	513.4		(44.0)		469.4		513.4		(44.0)		469.4
Total intangible assets	$	2,717.0	$	(1,422.3)	$	1,294.7	$	2,724.9	$	(1,338.8)	$	1,386.1

During the three months ended September 28, 2024, the amortization expense recognized in respect of intangible assets was $32.0 million, compared to $32.1 million for the three months ended September 30, 2023. In addition, movements in foreign currency exchange rates resulted in an increase in the net carrying value of total intangible assets of $11.4 million for the three months ended September 28, 2024, compared to a decrease of $10.3 million for the three months ended September 30, 2023.

During the nine months ended September 28, 2024, the amortization expense recognized in respect of intangible assets was $96.7 million, compared to $96.4 million for the nine months ended September 30, 2023. In addition, movements in foreign currency exchange rates resulted in a decrease in the net carrying value of total intangible assets of $8.2 million for the nine months ended September 28, 2024, compared to a decrease of $3.0 million for the nine months ended September 30, 2023.