v3.25.1
Balance Sheet Account Details (Tables)
 3 Months Ended
Mar. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
(In millions)March 30, 2025December 29, 2024
Cash and cash equivalents$127.1 $98.3 
Restricted cash included in Other assets0.1 0.2 
Cash, cash equivalents and restricted cash$127.2 $98.5 
Accounts Receivable, Net
Accounts receivables primarily consist of trade accounts receivables with maturities of one year or less and are presented net of reserves:
(In millions)March 30, 2025December 29, 2024
Accounts receivable$383.7 $382.0 
Allowance for contract rebates and discounts(83.0)(85.3)
Allowance for doubtful accounts(14.7)(14.3)
Total accounts receivable, net$286.0 $282.4 
Inventories
Inventories are stated at the lower of cost (first-in, first-out) or net realizable value. Inventories consisted of the following:
(In millions)March 30, 2025December 29, 2024
Raw materials$219.5 $211.8 
Work-in-process (materials, labor and overhead)92.3 90.6 
Finished goods (materials, labor and overhead)312.3 291.6 
Total inventories$624.1 $594.0 
Inventories$563.2 $533.7 
Other assets (1)
60.9 60.3 
Total inventories$624.1 $594.0 
(1) Other assets includes inventory expected to remain on hand beyond one year.
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following:
(In millions)March 30, 2025December 29, 2024
Income taxes and other tax receivables$100.3 $112.1 
Prepaid expenses76.3 77.3 
Contract assets32.9 32.5 
Other receivables17.8 24.3 
Derivatives11.2 15.1 
Other1.3 1.1 
Total prepaid expenses and other current assets$239.8 $262.4 
Goodwill
Changes in goodwill were as follows:
(In millions)North AmericaEMEAChinaOtherTotal
Balance at December 29, 2024$— $566.0 $66.6 $16.9 $649.5 
Foreign currency translation— 20.6 0.3 0.5 21.4 
Balance at March 30, 2025$— $586.6 $66.9 $17.4 $670.9 
Other Current Liabilities
Other current liabilities consisted of the following:
(In millions)March 30, 2025December 29, 2024
Accrued commissions, rebates and returns$72.6 $67.4 
Deferred revenue34.4 33.5 
Operating lease liabilities31.2 31.1 
Professional services22.6 21.4 
Accrued other taxes payable21.6 20.9 
Accrued interest13.5 39.0 
Derivatives6.8 4.0 
Other78.7 71.4 
Total other current liabilities$281.4 $288.7