Intangible assets

3 Months Ended

Mar. 29, 2025

Goodwill and Intangible Assets Disclosure [Abstract]


	As of March 29, 2025						As of December 28, 2024
(dollars in millions)	Cost		Accumulated amortization and impairment		Net		Cost		Accumulated amortization and impairment		Net
Finite-lived:
—Customer relationships	$	1,939.0	$	(1,234.8)	$	704.2	$	1,921.5	$	(1,194.7)	$	726.8
—Technology	90.6		(90.6)		—		90.5		(90.5)		—
—Capitalized software	148.3		(89.4)		58.9		138.2		(85.8)		52.4
	2,177.9		(1,414.8)		763.1		2,150.2		(1,371.0)		779.2
Indefinite-lived:
—Brands and trade names	513.4		(44.0)		469.4		513.4		(44.0)		469.4
Total intangible assets	$	2,691.3	$	(1,458.8)	$	1,232.5	$	2,663.6	$	(1,415.0)	$	1,248.6

During the three months ended March 29, 2025, the amortization expense recognized in respect of intangible assets was $31.4 million, compared to $32.5 million for the three months ended March 30, 2024. In addition, movements in foreign currency exchange rates resulted in an increase in the net carrying value of total intangible assets of $7.2 million for the three months ended March 29, 2025, compared to a decrease of $8.8 million for the three months ended March 30, 2024.