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Goodwill and Other Intangible Assets
9 Months Ended
Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
Goodwill and other intangible assets included in the Condensed Consolidated Balance Sheets consisted of the following:
September 28,
2024
December 30,
2023
Goodwill, net$442.1 $441.0 
Definite-lived intangible assets, net140.3 161.7 
Indefinite-lived intangible assets49.1 49.1 
Total goodwill and other intangible assets, net$631.5 $651.9 

Goodwill
The activity in the carrying amount of goodwill, by reporting segment, was as follows:
Workplace FurnishingsResidential Building ProductsTotal
Balance as of December 30, 2023   
Goodwill$297.2 $222.4 $519.6 
Accumulated impairment losses(78.5)(0.1)(78.6)
Net goodwill balance as of December 30, 2023
218.7 222.3 441.0 
Goodwill measurement period adjustments1.1 — 1.1 
Balance as of September 28, 2024  
Goodwill298.3 222.4 520.7 
Accumulated impairment losses(78.5)(0.1)(78.6)
Net goodwill balance as of September 28, 2024
$219.8 $222.3 $442.1 

Goodwill measurement period adjustments were made in the first quarter of 2024 related to the acquisition of Kimball International. The measurement period was closed during the second quarter of 2024. See "Note 3. Acquisitions and Divestitures" for further information.

Definite-lived intangible assets
The table below summarizes amortizable definite-lived intangible assets, which are reflected in "Goodwill and Other Intangible Assets, net" in the Condensed Consolidated Balance Sheets:
September 28, 2024December 30, 2023
GrossAccumulated AmortizationNetGrossAccumulated AmortizationNet
Software$189.1 $146.5 $42.7 $199.6 $143.4 $56.2 
Trademarks and trade names17.9 8.0 9.9 18.1 7.3 10.8 
Customer lists and other139.7 52.0 87.8 143.9 49.2 94.7 
Net definite-lived intangible assets$346.7 $206.4 $140.3 $361.6 $199.8 $161.7 
Amortization expense is reflected in "Selling and administrative expenses" in the Condensed Consolidated Statements of Comprehensive Income and was as follows:
Three Months EndedNine Months Ended
September 28,
2024
September 30,
2023
September 28,
2024
September 30,
2023
Capitalized software$5.1 $5.9 $15.5 $16.8 
Other definite-lived intangibles$2.6 $2.3 $7.9 $5.8 

The occurrence of events such as acquisitions, dispositions, or impairments may impact future amortization expense. Over the next several years, amortization expense is expected to decline due primarily to the completion of the amortization of the Corporation's Business Systems Transformation investment. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five years is as follows:
20242025202620272028
Amortization expense$30.3 $27.6 $23.0 $16.9 $9.0 

Indefinite-lived intangible assets
The Corporation also owns certain intangible assets, which are deemed to have indefinite useful lives because they are expected to generate cash flows indefinitely. These indefinite-lived intangible assets are reflected in "Goodwill and Other Intangible Assets, net" in the Condensed Consolidated Balance Sheets:
September 28,
2024
December 30,
2023
Trademarks and trade names$49.1 $49.1 

Impairment Analysis
The Corporation evaluates its goodwill and indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter, or whenever indicators of impairment exist. The Corporation also evaluates long-lived assets (which include definite-lived intangible assets) for impairment if indicators exist. No impairment triggers were identified that warranted further impairment analysis in the current period.