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Goodwill and Intangible Assets
 12 Months Ended
Jan. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The excess of purchase price over estimated fair value of net assets acquired is assigned to goodwill.
In the fourth quarter of fiscal 2021, the Company recorded goodwill impairment of $33.0 million in its global industrial motors reporting unit. The global industrial motors reporting unit had goodwill of $80.1 million as of January 1, 2022 and is included in our Industrial Systems segment. Some of the key considerations used in the impairment testing included (i) market pricing of guideline publicly traded companies (ii) cost of capital, including the risk-free interest rate, and (iii) recent historical and projected operating results of the subject reporting unit. There is inherent uncertainty included in the assumptions used in goodwill impairment testing. A change to any of the assumptions could lead to a future impairment that could be material.

The following information presents changes to goodwill during the periods indicated (in millions):
TotalCommercial Systems Industrial Systems Climate SolutionsMotion Control Solutions
Balance as of December 28, 2019$1,501.3 $426.6 $170.8 $331.2 $572.7 
Less: Impairment Charges(10.5)— (10.5)— — 
Translation and Other27.4 6.7 3.4 (0.4)17.7 
Balance as of January 2, 2021$1,518.2 $433.3 $163.7 $330.8 $590.4 
Impairment Charge(33.0)— (33.0)— — 
Acquisitions2,576.8 — — — 2,576.8 
Translation and Other(22.8)(4.4)(1.9)(0.3)(16.2)
Balance as of January 1, 2022$4,039.2 $428.9 $128.8 $330.5 $3,151.0 
Cumulative Goodwill Impairment Charges$328.7 $183.2 $105.1 $17.2 $23.2 

Intangible Assets
Intangible assets consist of the following (in millions):
Weighted Average Amortization Period (Years)January 2, 2021AcquisitionsTranslation AdjustmentsJanuary 1, 2022
Customer Relationships16$708.6 $1,643.0 $(16.2)$2,335.4 
Technology13146.3 105.0 (1.2)250.1 
Trademarks10160.5 243.0 (3.5)400.0 
Patent and Engineering Drawings516.6 — — 16.6 
Total Gross Intangibles$1,032.0 $1,991.0 $(20.9)$3,002.1 
Accumulated amortization of intangible assets consists of the following:
January 2, 2021AmortizationTranslation AdjustmentsJanuary 1, 2022
Customer Relationships$349.4 $60.7 $(5.1)$405.0 
Technology108.0 6.5 (0.4)114.1 
Trademarks27.7 10.2 (0.7)37.2 
Patent and Engineering Drawings16.6 — — 16.6 
Total Accumulated Amortization$501.7 $77.4 $(6.2)$572.9 
Intangible Assets, Net of Amortization$530.3 $2,429.2 
While the Company believes its customer relationships are long-term in nature, the Company's contractual customer relationships are generally short-term. Useful lives are established at acquisition based on historical attrition rates.
Amortization expense was $77.4 million in fiscal 2021, $47.3 million in fiscal 2020 and $50.3 million in fiscal 2019. Amortization expense does not include any impairment recognized during the respective periods. The Company recognized $4.9 million of customer relationships intangible asset impairment related to the transfer of assets to held for sale during the first quarter of 2019.

The following table presents estimated future amortization expense (in millions):
Estimated Amortization
Year
2022$187.0 
2023187.0 
2024186.3 
2025184.2 
2026180.7