Goodwill and Intangible Assets, Net

6 Months Ended

Jul. 05, 2026

Intangible Asset, Goodwill and Other [Abstract]

The Company completes the annual testing of impairment for goodwill on the later of November 1 or the first day of its eleventh fiscal month of each fiscal year. In addition to its annual test, the Company regularly evaluates whether events or circumstances have occurred that may indicate a potential impairment of goodwill.

The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill.

The changes in the carrying amount of goodwill for the six months ended July 5, 2026 were as follows:


	Life Sciences		Diagnostics		Consolidated
	(In thousands)
Balance at December 28, 2025	$	4,744,962	$	1,868,531	$	6,613,493
Foreign currency translation	(26,917)		(10,588)		(37,505)
Acquisitions	31,814		—		31,814
Balance at July 5, 2026	$	4,749,859	$	1,857,943	$	6,607,802

Identifiable intangible asset balances by category were as follows:


	July 5, 2026		December 28, 2025
	(In thousands)
Patents	$	27,591	$	27,592
Less: Accumulated amortization	(26,635)		(26,524)
Net patents	956		1,068
Trade names and trademarks	149,092		150,103
Less: Accumulated amortization	(105,671)		(102,234)
Net trade names and trademarks	43,421		47,869
Licenses	27,211		27,561
Less: Accumulated amortization	(20,224)		(19,849)
Net licenses	6,987		7,712
Core technology	1,640,739		1,624,925
Less: Accumulated amortization	(979,126)		(921,325)
Net core technology	661,613		703,600
Customer relationships	2,890,248		2,870,384
Less: Accumulated amortization	(1,379,224)		(1,283,630)
Net customer relationships	1,511,024		1,586,754

Total	$	2,224,001	$	2,347,003

Total amortization expense related to amortizable intangible assets was $84.9 million and $170.0 million for the three and six months ended July 5, 2026, respectively, and $85.3 million and $168.0 million for the three and six months ended June 29, 2025, respectively. Estimated amortization expense related to amortizable intangible assets is $169.5 million for the remainder of fiscal year 2026, $312.9 million for fiscal year 2027, $286.9 million for fiscal year 2028, $256.8 million for fiscal year 2029, and $228.0 million for fiscal year 2030